Update on Acquisition

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 of the 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	[phone]
Larry Lipman
Liberum Capital Limited
(Nominated Adviser and Broker)	[phone]
Andrew Godber/Edward Thomas/Laura Hamilton
Novella	[phone]
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:

Website   www.safestay.com  

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

Instagram page www.instagram.com/safestayhostels/

 

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