Electra says on course to move to AIM as Unbound early in 2022
02/12/2021 07:30
LONDON, Dec 2 (Reuters) - Electra Private Equity ELTA.L
said on Thursday it would soon begin the process of moving from
Britain's main stock market to the junior AIM market as part of
a plan to rebrand itself as digital lifestyle platform Unbound
Group.
In November, Electra said it had successfully demerged
portfolio company Hostmore, a move which paved the way for
Electra to apply to change its listing status and name,
something it hopes to complete early in 2022.
Unbound, building on the existing business of Hotter Shoes,
will look to sell a range of products and services aimed at
people over the age of 55.
At the end of September, Electra said its net asset value
was 526 pence a share, of which 107 pence a share was notionally
attributable to the impending Unbound side of the business.
Hostmore, which began trading as a separate entity on the
London Stock Exchange at the start of November, owns the Fridays
U.S.-themed restaurant chain.
Post transition, stripping out various discounts baked into
the current NAV, such as execution risk concerns, Electra said
the Unbound value was 173.2 pence a share.
(Reporting by Simon Jessop
Editing by Rachel Armstrong)
((simon.jessop@thomsonreuters.com; +44 (0) 207 542 5052;
Reuters Messaging: Reuters Messaging:
simon.jessop.thomsonreuters.com@reuters.net))