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Safestay PLC shares plunged on Tuesday afternoon as potential suitor Infill Capital Partners confirmed that it does not intend to make a takeover offer for the company. On Friday, shares in Safestay, a London-based hostel operator, had more than doubled to 30.00 pence each after it confirmed discussions with Infill Capital. Safestay shares plunged by 45% to 13.20 pence on Tuesday afternoon, falling near its closing price of 13.50p on Thursday. Under UK takeover rules, Infill had until August 7 to announce a firm intention to bid or walk away. In late June, Safestay had reported that revenue fell to £20.6 million in 2025 from £22.5 million in 2024, as challenging trading conditions across Europe weighed on performance. Pretax loss widened to £10.1 million from £3.1 million, reflecting lower earnings alongside £6.0 million of non-cash impairment charges and a £1.4 million loss on asset disposals. Safestay said liquidity improved and gross debt reduced to £14.1 million from £19.5 million following property sales. While trading remains affected by the Middle East conflict, tourist levies, and cost pressures, the board had said it remained confident in Safestay’s long-term growth prospects and continued to evaluate strategic options, including further disposals and sale-and-leaseback transactions. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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