Outgoing On The Beach chief executive shows confidence in OTA by upping stake

Simon Cooper acquired £340,000 of shares after announcing plans to step aside in 2023

Outgoing On the Beach boss Simon Cooper has demonstrated his confidence in the future of the OTA by increasing his shareholding in the business.

A disclosure to the London Stock Exchange showed that the founder and chief executive acquired shares for more than £340,000.

Cooper now has a 5.82% shareholding in the company, which includes trade-facing brand Classic Collection Holidays.

His share purchase came a week after he revealed plans to step down in the next 12 months.

Cooper previously increased his stake in On the Beach in August and will remain on the board as a non-executive founder director.

This came as the company revealed a return the black in the year to September 30 with a pre-tax profit of £14.1 million against a loss of £18.4 million in the previous 12 months.