Nightcap PLC on Tuesday said it will buy some assets of bar and entertainment venue, The Piano Works from its operator, TDC Concepts Ltd.
Shares in Nightcap dropped 16% to 4.13 pence each in London.
Nightcap PLC shares surged on Wednesday following its positive trading update for the Christmas period, as well as for its latest half year and quarter.
The stock was up 18% at 6.09 pence per share.
Nightcap PLC on Thursday said that Chief Financial Officer Toby Rolph is stepping down as CFO and as director.
The London-based owner of Cocktail Club, Adventure Bar and Barrio Familia chains said.