Electra Private Equity PLC - London-based private equity investment trust - Calls general meeting of shareholders for December 30 to approve its plan to delist from the London Main Market as Electra Private Equity and relist on AIM as Unbound Group PLC. Assuming approval, it expects this to happen on January 31. Unbound will initially consist of Electra's remaining portfolio firm Hotter Shoes, and Hotter Shoes Chief Executive Officer Ian Watson will become CEO of Unbound. Beyond Hotter Shoes, Unbound hopes to develop a range of brands aimed at the 55+ demographic. Early last month, Electra demerged the owner of the TGI Fridays restaurant chain, which started trading on the London Main Market as Hostmore PLC.
Current Electra stock price: 67.00 pence, up 3.1% on Thursday
By Tom Waite; thomaslwaite@alliancenews.com
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