2nd Nov 2021 20:39
Electra Private Equity PLC - London-based private equity investor - Following completed demerger of Hostmore, Electra is to remain as a listed investment trust, but will seek shareholder approval to move its listing to AIM from the London Main Market trust.
Should it go through, the company will rename itself as Unbound Group PLC and cease being an investment trust, instead becoming based on Hotter Shoes. Transition is expected to take place for the coming months, with the first Unbound revenue targeted for the second quarter of 2022.
As for Hotter, for the six months ended July 31, generates earnings before interest, tax, depreciation and amortisation of GBP2.5 million, on revenue of GBP25 million.
"The demerger of Hostmore marks a key point in the delivery of our value realisation strategy and we now turn our focus fully to preparation for the transition to Unbound and subsequently delivering continued growth," says Chair Neil Johnson.
Current stock price: 118.00 pence, down 79% on Tuesday
Year-to-date change: down 57%
By Dayo Laniyan; [email protected]
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