Confirmation from stellios21 Aug 2019 14:42
In a statement on Wednesday, Haji-Ioannou accused ICAMAP of attempting to "steal the company from under the noses of other investors".
Haji-Ioannou, who does not serve as a director, attempted to purchase more easyHotel shares this week with the intention of boosting his holding in the company to just under 30%.
He said: "My plan was to increase my stake in easyHotel PLC from the current level of just under 28% to just under 30%. However, we managed to find only 10,000 shares at 95.00p and despite bidding up to 96.00p, we found no other willing sellers at that price. We will continue to buy shares in the open market up to the limit of just under 30%."
"Clearly this purchase of a token number of shares, less than 0.01% of the share capital, was all that was available to my brokers and is evidence that there are not many sellers at 95.00p. This is proof that the real value of an easyHotel share today is well above ICAMAP’s offer," Haji-Ioannou said.
The easyHotel founder also noted that ICAMAP paid 110.00p per share when it invested in the company 18 months ago and 15 months ago, the stock was as high as 128.00p.
Haji-Ioannou said: "It is outrageous for ICAMAP to argue that the value of the company has gone down 14% since they made their last investment at 110p only 18 months ago when ICAMAP had just appointed Harm Meijer as an active easyHotel board director.
"So who is ICAMAP blaming exactly for such value destruction? Or perhaps it has simply not occurred. I think ICAMAP is simply trying to steal this company from under the noses of other investors," Haji-Ioannou added.
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