Glad thats behind us
2 March 2022
Safestay plc
("Safestay" or the "Company")
Conclusion of Strategic Review and Formal Sale Process
On 17 September 2021, the Board of Safestay plc (the "Board") announced that it had been considering options for the Company with its advisers. The Board determined to undertake a review of the Company's strategic options (the "Strategic Review"). These options included, but were not limited to, a sale of the Company under the framework of a "Formal Sale Process" in accordance with the City Code on Takeovers and Mergers (the "Takeover Code").
During the course of the Strategic Review, a number of constructive discussions were held with interested parties and several indicative proposals were received. Further discussions resulted in a non-binding conditional expression of interest being received from a bona fide third party (the "Expression of Interest") in cash at a significant premium to the current share price (the "Expression of Interest Price").
Having considered the Expression of Interest, the majority of the Board concluded that they would have recommended Shareholders accept an offer made at the Expression of Interest Price. However, following discussions with certain shareholders of the Company, whilst a number indicated that they would be prepared to commit to accepting such an offer at the Expression of Interest Price, it became clear that there was not sufficient shareholder support to satisfy the third party making an announcement of a firm intention to make an offer for the Company under Rule 2.7 of the Takeover Code (and the Board has notified the third party that their Expression of Interest has been rejected). All discussions with interested parties have now ceased and there are no ongoing discussions. As a result, the Board has decided to terminate the Formal Sale Process with immediate effect.
The Board has also decided to end the Strategic Review. The Board believes strongly in the appeal of the Safestay brand and will continue to explore all avenues of alternatives and opportunities in what remains a challenging and unclear post covid environment. In total, trading has been in line with the Board's expectations since the Company's last guidance issued on 28 September 2021.
Safestay's hostels only fully re-opened in July 2021, but the Board's belief in the brand strength is reinforced by the trading performance of the hostels post re-opening, delivering significantly more hostel revenues than 2020, and hostel EBITDA returning to a positive position in the latter months of the year before trade was impacted once again by travel restrictions and lockdowns because of the Omicron variant.
The Board believes that as travel restrictions are lifted across Euro
Im 10x down, pointless selling £180 but a little hope,
major holdings as of 3dec 2021.
Hargreaves Lansdown PLC 13.95 %
Interactive Investor 11.07 %
Halifax Share Dealing 8.33 %
Shaun Dowling 6.67 %
Jarvis Investment Management 5.96 %
Axis Capital Markets 5.53 %
Andrew Prelea 5.36 %
Barclays Wealth 3.75 %
Trolls are here, can only mean good things happening. As a ggp holder for many years, reading the rns regularly it gives the confidence i had for many years holding ggp. Have followed omi for a fair time now and today i invested. Re sell on good news.
3.7 m mcap ? lets see how things pan out. Im holding long term investor.
Nearly 6 years holding, im not phased look for the long term. One thing i have learnt 6 years of investing is if you believe and hold in your investments it will work. Value good entry prices is key, never follow the flow unless your prepared to lose. Good honost share groupe great, then filter. Make your own mind up.
Its taken a while to get here, confident in what i invest in now.
Hi, have been watching this share for a while now and this morning decided to take a small position. Based on very low market cap, JV and Glencore nearby. Let's see how it pans out and hope for good news in the coming weeks.
Welshbermuda
same boat as you ,same story testing still needed, bought in at 58, still happy to hold longterm.
Good news increasing position
Richard Griffiths and family
5. Date on which the threshold was crossed or reachedvi:
25 September 2020
6. Date on which issuer notified (DD/MM/YYYY):
28 September 2020
7. Total positions of person(s) subject to the notification obligation
Resulting situation on the date on which threshold was crossed or reached
7.52%
0.00%
7.52%
1,993,919,645
Position of previous notification (if
applicable)
6.47%
was thinking of investing here but found some news on Bosch test https://www.bosch.com/stories/vivalytic-rapid-test-for-covid-19/
Does anybody no the impact this could have?