REG - Safestay PLC - Director and Auditor Change

SafestayAnnouncement

10/02/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220210:nRSJ2219Ba&default-theme=true

RNS Number : 2219B  Safestay PLC  10 February 2022

10 February 2022

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of MAR

 

Safestay plc

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

Director and Auditor Change

 

Safestay (AIM: SSTY), the owner and operator of an international brand of
contemporary hostels, announces the appointment of Paul Hingston, who today
joins the Company on a full-time basis, as Designate Chief Financial Officer
and Company Secretary (initially a non-Board position) and following the
satisfactory completion of regulatory due diligence, he will join the Board,
expected to be by 21 February 2022.

Paul has extensive leisure and travel sector experience, most recently he was
Group Finance Director for Starboard Hotels Ltd. Paul also brings significant
M&A experience.

The forthcoming appointment follows Peter Harvey's resignation as a director
on 14 December 2021 although Peter agreed to stay on pending a replacement
being found. To allow for a handover period and ensure a smooth transition he
will be stepping down from the position as part time Chief Financial Officer
and Company Secretary with effect from 21 February 2022.

A further announcement will be made in due course following completion of the
regulatory due diligence in respect of Paul's appointment.

Larry Lipman, Chairman of Safestay, said: "I would like to thank Peter for his
strong contribution to the Company. I would also like to welcome Paul to the
business and we look forward to working closely with him."

In addition, following a retendering process, the Board and audit committee of
Safestay Plc is pleased to announce the appointment of Nexia Smith and
Williamson Audit Ltd (S&W), as its new auditor replacing Grant Thornton
LLP who have resigned. As with many other businesses impacted by the global
pandemic, the Board have been looking to reduce costs, which included running
a retendering process for the audit of the Company's financial statements for
the year to 31 December 2021.

The appointment of S&W as auditor for the following financial year will be
subject to approval by shareholders at the next Annual General Meeting of the
Company to be held in 2022. The Board is grateful to Grant Thornton for the
services they have provided.

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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEANANEFFAEFA