TIDMSSTY

RNS Number : 8444Q

Safestay PLC

02 December 2016

2 December 2016

Safestay plc

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

Directorate Change

Safestay (AIM: SSTY), the owner and operator of a new brand of contemporary hostel, announces that Chief Executive, Philip Houghton will be stepping down from the Board and leaving the Company on 31 December 2016. The Company also today announces the non-Board appointment of Nuno Sacramento as Chief Operating Officer from 1 February 2017.

Nuno is currently Head of Customer Operations with Carillion PLC focusing on developing their group-wide customer service culture. Prior to this, Nuno worked for Whitbread PLC for 16 years in several senior managerial roles, working with the Company's well-known brands Premier Inn, Beefeater and Costa Coffee.

Larry Lipman, Executive Chairman of Safestay will manage the business in the short transition period and from February 2017 will support Nuno in running the Company.

Larry Lipman, Group Chairman, said," Firstly, on behalf of myself and the Board I would like to thank Phil for the last two years and wish him the best for the future. I would also like to welcome Nuno to the Company who has worked in senior roles across the industry and has strong F&B experience which is a key focus for us in 2017 as we build on the revenue increases we have made. We expect Nuno to be a central part of the team straight away, with the view that he will join the board in due course and we are looking forward to working alongside him."

- ENDS -

Enquiries

 
                                    +44 (0) 20 8815 
 Safestay plc                        1600 
 Larry Lipman, Chairman 
 
 Canaccord Genuity Limited          +44 (0) 20 7523 
  (Nominated Adviser and Broker)     8000 
 Bruce Garrow 
 Chris Connors 
  Ben Griffiths 
 
 Novella 
                                    +44 (0) 20 3151 
 Tim Robertson                       7008 
 Toby Andrews

For more information visit: www.safestay.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

December 02, 2016 07:02 ET (12:02 GMT)

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