Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
28 August 2024 - 11:27PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
August
28, 2024
SELINA
HOSPITALITY PLC (in Administration)
c/o
FTI Consulting 200 Aldersgate Street
London
EC1A 4HD
United
Kingdom
Tel:
+44 (0)205 077 0577
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
Sale
of Business
Further
to the announcement by Selina Hospitality PLC (the “Company”) on July 22, 2024 regarding the appointment of Andrew
Johnson, Samuel Ballinger and Ali Khaki of FTI Consulting LLP as joint administrators of the Company (the “Joint Administrators”)
and the subsequent announcement on July 26, 2024 regarding the suspension of the Company’s securities, the Joint Administrators
are providing an update on the accelerated sales process.
On
August 27, 2024 the Joint Administrators concluded a sale of the majority of the business and operating subsidiaries of the Company to
Collective Hospitality Pte Ltd, a hospitality owner and operator based in Singapore.
Forward-Looking
Information
This
Report on Form 6-K includes “forward-looking statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, and
include terms such as “may,” “should,” “expect,” “intend,” “will,” “estimate,”
“anticipate,” “believe,” “predict,” “potential,” or “continue,” or the negatives
of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties (some
of which are beyond our control), and other factors which could cause actual results to differ materially from those expressed or implied
by such forward-looking statements. These forward-looking statements are based upon assumptions that, while we consider reasonable, are
inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, without limitation:
the possible delisting of Selina’s ordinary shares from the Nasdaq Capital Market due to non-compliance with required listing standards;
potential negative impacts on our financial results as a result of changes in travel, hospitality, and real estate markets, including
the possibility that travel demand and pricing do not recover to the extent anticipated, particularly in the current geopolitical and
macroeconomic environment; volatility in the capital markets; our ability to execute on our plans to increase occupancy and margins;
the potential inability to meet our obligations under our commercial arrangements and debt instruments; delays in or cancellations of
our efforts to develop, redevelop, convert or renovate the properties that we own or lease; challenges to the legal rights to use certain
of our leased hotels; risks associates with operating a significant portion of our business outside of the United States; risks that
information technology system failures, delays in the operation of our information technology systems, or system enhancement failures
could reduce our revenues; changes in applicable laws or regulations, including legal, tax or regulatory developments, and the impact
of any litigation or other legal or regulatory proceedings; possible delays in ESG and sustainability initiatives; the possibility that
we may be adversely affected by other economic, business and/or competitive factors, including risks related to the impact of a world
health crisis; and other risks and uncertainties described under the heading “Risk Factors” contained in the Annual Report
on Form 20-F for the fiscal year ended December 31, 2022, prospectus filed on August 25, 2023 and subsequent filings with the Securities
and Exchange Commission. In addition, there may be additional risks that Selina does not presently know, or that Selina currently believes
are immaterial, which also could cause actual results to differ from those contained in the forward-looking statements. Nothing in this
Report on Form 6-K should be regarded as a representation by any person that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance
on forward-looking statements, which speak only as of the date they are made. Except as may be required by law, we do not undertake any
duty to update these forward-looking statements.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
|
SELINA
HOSPITALITY PLC |
|
|
|
Date:
August 28, 2024 |
By:
|
/s/Andrew
Johnson |
|
|
Andrew
Johnson |
|
|
Joint
Administrator, acting as agent of the Company and without personal liability |
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