easyHotel to delist from London Alternative Investment Market
The near 50-strong hotel chain, founded by Sir Stelios Haji-Ioannou, is to withdraw from the London stockmarket next month following the ownership consolidation of its share capital between easyGroup and Ivanhoe/ICAMAP.
Sir Stelios said:
“I have agreed to the delisting of easyHotel as there is now just a 3% free float (of the company’s shares) – so clearly the cost of compliance with the AIM listing rules more than outweigh the benefits.
“I am glad also that the last remaining 3% shareholders now have an opportunity to sell their shares at 70p each, which I encourage them to do.
“I look forward to working with Harm Meijer and the rest of his team in the years ahead as a private company and to restore easyHotel to the front rank of the budget hotel market when this current emergency ends.”
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