Vestas' share price on the slide as court battle looms

by GreenWire.org.uk. Published Tue 28 Jul 2009 14:32, Last updated: 2009-07-28
Vestas shares struggle on Nasdaq OMX
Vestas shares struggle on Nasdaq OMX

The share price of renewable energy company Vestas has fallen on the eve of a court appearance to gain the legal right to evict sit-in protesters at its Isle of Wight factory.

After a short-lived rally over the weekend, the value of the company's shares has dipped again this afternoon despite news of lucrative contract wins.

Trading on Nasdaq's Scandinavian OMX exchange, the Vestas share price slumped from an opening high of 392 yesterday to today's mid-afternoon low of 375 before closing on 370 - a drop of nearly four percent.

Lawyers for Vestas will tomorrow petition a judge at Newport County Court to seek the legal authority to remove the protesters.

Following the sit-in last week, the company's stock market value slipped to a recent low of 364. This time last year the share price for the company was 619.






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