Safestay Regulatory News (SSTY)

Safestay plc

("Safestay", the "Company" or the "Group")

Appointment of Alternate Director

Safestay (AIM:SSSTY), the owner and operator of a new brand of contemporary hostel, announces that Mr Anson Chan, a non-executive Director, has appointed Mr Paul Cummins to act as his Alternate Director at any meeting of Directors which he is not able to attend.

The appointment of Mr Cummins will continue until Mr Cummins either resigns, Mr Chan revokes the appointment or until Mr Chan ceases to be a Director, whichever occurs first.

Mr Cummins is a Director and Co-Founder of Pyrrho Investments Ltd, a family investment fund, which owns 27.26% of the Company's issued share capital.

Mr Cummins is a qualified Chartered Accountant and a professional investor with over 29 years of business experience. He is also a director of Pacific Jade Corporate Services Limited, a company secretarial business,. Previously, Mr Cummins was the CFO of alternative energy business Yifung Alternative Energy Company Ltd. Before this, he worked at Nomura International and KPMG.

Paul Cummins (aged 53) holds or has held directorships and partnerships in the five years preceding his appointment at the Company as follows:

Save as disclosed above there are no additional disclosures to be made in accordance with Schedule Two paragraph (g) of the AIM rules.

Enquiries