Hostmore Plc Share Price (MORE)

Since jun last year -- have people given up ?

The flurry of buying this morning and last week may be related. Buying at 23p this morning

"Hostmore plc (the "Company"), announces that Julie McEwan, its Chief Executive Officer, has today issued a letter (the "Irrevocable Instruction Letter") to Numis Securities Limited ("Numis") and the Company pursuant to which, from 5 June 2023 to 31 May 2024 (inclusive), she irrevocably instructs Numis to purchase ordinary shares in the Company on behalf of herself on a monthly basis (the "Share Purchases").

The Irrevocable Instruction Letter cannot be varied or terminated (other than as a result of it expiring at the end of its term or Numis terminating it in accordance with its terms): (a) during a closed period (as defined in the Market Abuse Regulation (as applied in the United Kingdom)) of the Company; or (b) when the Company and/or Julie McEwan is in possession of inside information.

A further announcement will be made on completion of the Share Purchases in each month."

Strange RNS. Never come across this sort of "Irrevocable Instruction Letter" before. Presume it's designed to engender confidence, but why would you commit yourself to monthly share purchases at unknown prices over the next 12 months? No mention as to the quantum of the financial commitment either. Weird.

I would imagine its from the recovery period coming out of Covid and lockdowns.

Can anyone explain the 90million annual loss in the results? Surely that is much worse than expected?