RE: DELISTING11 Sep 2024 15:07
e sale process, which is predicted to complete by the end of the month, is expected to result in hostmore being wound up and delisted from the london stock exchange.
its uk restaurants, which have a new york-influenced food and ****tails menu, continue to stay open as normal.
russ mould, an investment director at aj bell, said it is “effectively game over for hostmore as a listed business”, adding: “the company’s share price crashed 90 per cent after an expansion plan went up in smoke, implying there is little to no value left in the listed business for shareholders.”
the plan to become fully-franchised formed part of a deal, struck in april, to merge with us-based tgi fridays inc, to create a larger firm that will remain listed in london.
but on monday, hostmore said it was no longer pursuing a takeover following a management change which means it would not be able to collect royalties from the tgi fridays brand.