Last checked at 30 Apr 2021 15:30
30 April 2021
Safestay plc
("Safestay", the "Company" or the "Group")
EDINBURGH HOSTEL SALE
RESULT OF GENERAL MEETING
Safestay (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, announces that at the general meeting of the Company held earlier today (the "General Meeting"), the resolution to approve the proposed sale by Safestay of its hostel in Edinburgh to the a&o Hostels and Hotels group (the "Edinburgh Hostel Sale") was passed by the requisite majority.
Given the current restrictions on attendance at meetings, voting on the resolution at the General Meeting was conducted by poll and the results are set out in the table below.
FOR | % | AGAINST | % | TOTAL VOTED | TOTAL WITHHELD* |
46,300,926 | 100% | 0 | 0% | 0 | 0% |
* A vote withheld is not a vote in law and is not counted for the purposes of the calculation of the proportion of votes 'For' and 'Against' a resolution.
The resolution passed at the General Meeting is set out in full in the notice of the meeting at the end of the circular published in connection with the Edinburgh Hostel Sale (the "Circular"). The Circular is available to download free of charge on the Company's website at www.safestay.com/investors/reports. The passing of the resolution at the General Meeting satisfies the condition to the Edinburgh Hostel Sale relating to Safestay shareholder approval.
Following satisfaction of this condition, and as set out in the Circular, completion of the Edinburgh Hostel Sale is now expected to occur on 30 June 2021. A further update will be provided in due course.
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
For more information visit our:
Website: www.safestay.comhttp
Vox Markets page: https://www.voxmarkets.co.uk/company/SSTY/news/
Instagram page: www.instagram.com/safestayhostels/