Last checked at 2 Mar 2020 07:00
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 €2.7 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 |
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Liberum Capital Limited |
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(Nominated Adviser and Broker) | +44 (0) 20 3100 2000 |
Andrew Godber/Edward Thomas/Laura Hamilton
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Novella | +44 (0) 20 3151 7008 |
Tim Robertson |
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Fergus Young |
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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/