Hostmore has temporarily suspended its listing from the main market of the London Stock Exchange with effect from 7:30am today (1 May).
The TGI Fridays operator was required to publish its annual report for the financial year ended 31 December 2023 by 30 April 2024. However, its auditors have requested additional time beyond the originally planned timetable to complete their audit, relating to their review of non-cash items.
As a result, the listing of the company’s ordinary shares are temporarily suspended, at the company’s request.
Hostmore is working towards the publication of its annual report as soon as possible and will request a restoration of the listing of its Ordinary Shares on publication.
Last month, the company reached agreement for a proposed all-share acquisition of TGI Fridays in the US for an enterprise value of £177m.
The proposed transaction would bring together casual dining brand TGI Fridays’ largest franchisee with the global franchisor, classifying as a reverse takeover under listing rules and conditional upon approval by existing Hostmore shareholders.
The combined group will be renamed TGI Fridays plc, with its shares to be admitted to trading on the London Stock Exchange’s Main Market.
