Safestay PLC Update on Acquisition (5898E)

TIDMSSTY

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 EUR2.7 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:

   Website   www.safestay.com

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

Instagram page www.instagram.com/safestayhostels/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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