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Safestay PLC - SSTY
Update on Acquisition
Released 07:00 02-Mar-2020



RNS Number : 5898E
Safestay PLC
02 March 2020

2 March 2020

Safestay plc

('Safestay', the 'Company' or the 'Group')

Acquisition Update

Further to the announcement on 18 December 2019, Safestay (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, re-confirms that it has completed the acquisition ofthe Bratislava and Warsaw Hostels from Dreamgroup Management E.C.P. Ltd for a total consideration of €2.7 million. However, the proposed acquisition of the third hostel of the Dream portfolio, which is located in Prague, will not proceed. The vendor has been unable to satisfy certain conditions of the acquisition agreement. There is no cost to the Company, which continues to trade from its existing Prague location.

Enquiries

Safestay plc

+44 (0) 20 8815 1600

Larry Lipman

Liberum Capital Limited

(Nominated Adviser and Broker)

+44 (0) 20 3100 2000

Andrew Godber/Edward Thomas/Laura Hamilton

Novella

+44 (0) 20 3151 7008

Tim Robertson

Fergus Young

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (MAR).

For more information visit our:

Websitewww.safestay.com

Vox Markets pagehttps://www.voxmarkets.co.uk/company/SSTY/news/

Instagram pagewww.instagram.com/safestayhostels/


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Update on Acquisition - RNS

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Safestay plc published this content on 02 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 March 2020 07:07:05 UTC