Notice of AGM

RNS Number : 5330X

Safestay PLC

06 May 2016

 

 Safestay PLC

("Safestay" or "the Company") 

Final Results

Publication of Report & Accounts

Safestay (AIM: SSTY), the owner and operator of a luxury hostel brand, announces that its report & financial statements for the period ended 31 December 2015 have been sent to shareholders and copies are available on the Company's website, www.safestay.co.uk.

The Company's Annual General Meeting will be held at 11.00am on 7 June 2015 at Safestay Holland Park, Holland Walk, Kensington, London W8 7QU.

For further information: Safestay
Larry Lipman, Chairman	Tel: [phone]
Canaccord Genuity Limited (Nominated Advisor and Broker)
Bruce Garrow	Tel: [phone]
Chris Connors	Tel: [phone]
Novella Communications Ltd
Tim Robertson	Tel: [phone]

 About Safestay:

·     Safestay is a new brand of premium hostel, designed to appeal to a broad range of guests. Known as a "boutique hostel" within the travel industry, it is aimed at providing safe, stylish accommodation which offers an attractive alternative to both traditional hostels and budget hotel accommodation.

·     Established in April 2011 as a joint venture between the Moorfield Funds and the Safeland Group, the Company then listed on AIM in May 2014, to widen the shareholder base and raise new equity to support the European roll-out of the Safestay brand.

·     Today, the Group operates from four sites, 2 in London 1 in Edinburgh and 1 in York, totalling 1,526 beds, up from 560 beds in the previous year.

·     The Group aims to continue the expansion of the business by the acquisition and development of further properties and create a branded hostel group known for providing safe and stylish, but relatively inexpensive accommodation.

·     The current hostel market is undergoing substantial change, after years of little of no investment, the concept of staying in clean, safe, stylish rooms for less than £25 per night has gained momentum and there is, in the opinion of the Directors, the potential for significant growth and sector consolidation.

 

END

 

 

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