Hyve lifted by insurance and schedule update

The price of shares in FTSE 250 conference organiser Hyve Group (LON:HYVE) rose by 4.29% to 122.02p (as of 10:10 BST) as said that all events in China were currently planned to run as scheduled from the end of July, though a number of major events in all markets have been cancelled due to the ongoing pandemic. Insurance claims have been submitted for 17 events and the company has received an initial interim payment of £7.35 million.

CEO Mark Shashoua commented: “Whilst the uncertainty surrounding the easing of lockdown restrictions has led to further near-term cancellations of in-person events, we are pleased to be announcing the launch of Shoptalk’s Retail Meetup, which is a landmark moment for Hyve. Where in prior years content has been king, Shoptalk’s Retail Meetup focusses on the hundreds of thousands of interactions that make face-to-face global events a uniquely human and engaging experience. Building on Shoptalk’s highly successful Hosted Retailers & Brands Program in a virtual format, this event marks a bold step towards an omnichannel strategy for the Group“.