Safestay PLC Result of Open Offer (6785K)
December 17 2018 - 6:00AM
UK Regulatory
TIDMSSTY
RNS Number : 6785K
Safestay PLC
17 December 2018
THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION
CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION
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This announcement contains inside information.
For immediate release
17 December 2018
Safestay plc
("Safestay" or the "Company")
Results of Open Offer
and
General Meeting
Safestay plc (AIM: SSTY), the owner and operator of an
international brand of contemporary hostels, announced on 29
November 2018 the results of a Placing and Subscription of GBP10
million and an intended Open Offer of up to GBP1 million at the
Placing Price of 34 pence per share.
The Company is pleased to announce that at the General Meeting
of the Company, which took place earlier today, all resolutions
relating to the issued share capital authorisations of the Company
put to shareholders were passed.
The Company has received valid acceptances in respect of
1,048,115 Open Offer Shares from Qualifying Shareholders, including
applications under the Excess Application Facility. This represents
approximately 36.76% of the 2,851,595 Open Offer Shares offered.
The Company has therefore raised gross proceeds of approximately
GBP0.36 million through the Open Offer. The Company has raised
GBP10.36 million (before expenses) in aggregate through the
Placing, Subscription and Open Offer.
The new Ordinary Shares relating to the Placing, Subscription
and Open Offer will, when issued, rank pari passu in all respects
with the existing Ordinary Shares of the Company. Application has
been made for the 30,459,880 new Ordinary Shares to be admitted to
trading on AIM and accordingly dealings are expected to commence at
8.00am on 18 December 2018. Following Admission, the total number
of voting rights in the Company will be 64,679,014 and Shareholders
may use this figure as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
Safestay plc +44 (0) 20 8815 1600
Larry Lipman
Nuno Sacramento
Hervé Deligny
Canaccord Genuity Limited
(Nominated Adviser and Broker) +44 (0) 20 7523 8000
Chris Connors
Martin Davison
Michael Reynolds
Novella +44 (0) 20 3151 7008
Tim Robertson
Toby Andrews
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END
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