Safestay PLC Director and Auditor Change (2219B)
February 10 2022 - 1:59AM
UK Regulatory
TIDMSSTY
RNS Number : 2219B
Safestay PLC
10 February 2022
10 February 2022
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR
Safestay plc
("Safestay", the "Company" or the "Group")
Director and Auditor Change
Safestay (AIM: SSTY), the owner and operator of an international
brand of contemporary hostels, announces the appointment of Paul
Hingston, who today joins the Company on a full-time basis, as
Designate Chief Financial Officer and Company Secretary (initially
a non-Board position) and following the satisfactory completion of
regulatory due diligence, he will join the Board, expected to be by
21 February 2022.
Paul has extensive leisure and travel sector experience, most
recently he was Group Finance Director for Starboard Hotels Ltd.
Paul also brings significant M&A experience.
The forthcoming appointment follows Peter Harvey's resignation
as a director on 14 December 2021 although Peter agreed to stay on
pending a replacement being found. To allow for a handover period
and ensure a smooth transition he will be stepping down from the
position as part time Chief Financial Officer and Company Secretary
with effect from 21 February 2022.
A further announcement will be made in due course following
completion of the regulatory due diligence in respect of Paul's
appointment.
Larry Lipman, Chairman of Safestay, said: "I would like to thank
Peter for his strong contribution to the Company. I would also like
to welcome Paul to the business and we look forward to working
closely with him."
In addition, following a retendering process, the Board and
audit committee of Safestay Plc is pleased to announce the
appointment of Nexia Smith and Williamson Audit Ltd (S&W), as
its new auditor replacing Grant Thornton LLP who have resigned. As
with many other businesses impacted by the global pandemic, the
Board have been looking to reduce costs, which included running a
retendering process for the audit of the Company's financial
statements for the year to 31 December 2021.
The appointment of S&W as auditor for the following
financial year will be subject to approval by shareholders at the
next Annual General Meeting of the Company to be held in 2022. The
Board is grateful to Grant Thornton for the services they have
provided.
Enquiries:
Safestay plc
Tel: +44 (0) 20 8815 1600
Larry Lipman
Liberum (Nomad & Joint Broker) Tel: +44 (0) 20 3100 2000
Andrew Godber / Edward Thomas / Miquela Bezuidenhoudt
Novella
Tel: +44 (0) 20 3151 7008
Tim Robertson / Fergus Young
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END
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