RNS Number : 5506Y

Safestay PLC

06 December 2017

6 December 2017

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 the appointment of Mr Anson Chan, who will join the Board of the Company as Non-Executive Director with immediate effect. Mr Chan is a Director and Co-Founder of Pyrrho Investments Ltd which owns 21.99% of the Company's issued share capital.

Mr. Anson Chan is a respected Hong Kong businessman who has accumulated a variety of management and investment experiences. Over the years, he has served as an executive director for his family's real estate development and investment business, the Bonds Group of Companies. Before joining his family business, Mr. Chan was an associate director in the proprietary investments group for a Japanese investment bank, Nomura International, from 2000 to 2004, and of AIG Investment Corporation from 1998 to 2000. He was responsible for developing new investment opportunities in private equity in Greater China. In addition, Mr. Chan is a seed investor and responsible officer of an Asia-focused fund, Evenstar Fund.  From 2005 to 2008, he also served as a senior advisor to Elliott Associates, a leading U.S. based activist investment fund with assets under management in excess of UK$10 billion.

Commenting on his appointment, Group Chairman Larry Lipman said "We are very pleased to welcome Anson to the Board. He has substantial board level experience and an excellent understanding of our business.  2017 so far has been transformative for Safestay with the hostel portfolio increasing threefold through a series of acquisitions. Anson's appointment is therefore well timed as we look to take advantage of his experience of developing young growing companies and build on this momentum." 

Anson Chan (aged 54) holds or has held directorships and partnerships in the five years preceding his appointment at the Company as follows:

Current Directorships		Previous Directorships
A.V.C. Property Development Co. Ltd.
Achieve Investments Limited
Apex Choice Holdings Limited
Asia Maker Limited
Asia Pacific Wire & Cable Co.,
B.P.Y.A. 300 Holdings Ltd.
Beijing Serviced Apartments (H. K.) Holdings Ltd.
Best Epoch Holdings Ltd
Best Plan Development Limited
Bon Tai Investment Limited
Bond Success Development Limited
Bondalliance Global Limited
Bondly investments Limited
Bonds & Sons Holdings Limited
Bonds & Sons International Limited
Bonds Chan Family Holdings (PIC) Limited
Bonds Chan Family Holdings (PTC) Limited
Bonds Group Company Limited
Bonds International Ltd.
Bonds Land Investment Co., Ltd.
Bonds Land Investment Company Limited
Bondsland Trading Company Limited
Bondsrich Investments Singapore Pte. Ltd.
Boniand Development Limited
Bonland Development Limited
Bosan Limited
Boson Development Limited
Breakthrough Investments Ltd.
Broad Capital Investments Ltd
Broada International Limited
Broads International Limited
Chan Shu Kui Memorial School School Management Corn Ltd.
Chan's Educational Organisation Limited
City Chain Hotel Management Ltd
City Rich Corporation Limited
Dr. Seaker Chan Education Foundation Limited
Eagle Fort Global Limited
Empress Associates Ltd.
Excel Success Investment Limited
Fortborough Inc.
Fudan University Education Development Foundation
Gallant Victor Holdings Ltd
Gallant Victor Pte. Ltd.
Global Conqueror Limited
Gold Brighter Investment Ltd
Gold Standard Real Estate Agency Ltd
Golden Code Development Limited
Golden Maker Limited
Golden Wonder Limited
Grand Amusement Company Limited
Grosswell Limited
Grow Bright Investments Limited
Harwell International Investment Limited
Hero Sunny Limited
Holdwin Limited
Homestead Group Limited
Hong Kong And Mainland International Investment Society Limited
Hotel Pravo Hong Kong Limited
Howe Street Developments General Partnership Ltd.
Howe Street Developments Ltd.
Joint Oriental Investments Limited
Kindness Investment Holdings Overseas Limited
Kui Yuen Company Limited
Lady Secret Ltd.
Leader Shine Limited
Leading Sunny Limited
Lucky Richest Limited
Marco International Holdings Limited
Melbourne Management Limited
Middle Bench Vineyards Holdings Ltd.
Million Tender Limited
Mornington Developments Ltd.
New Zeal Investments Limited
Next Apex Ltd
Pacific Global Limited
Pacific Matrix Ltd
Perfect Horizon Ltd
Poly Active Limited
Polyinterest Inc.
Pyrrha Investments Ltd
Pyrrho Investments Ltd
Pyrrho Management Ltd
Radcliffe Enterprises Limited
Rich Keen (Hong Kong) Limited
Richest Grow Limited
Richfast Development Co., Ltd.
Rosy Value Limited
Sandmoor Associates Limited
Seabreeze Associates Limited
Seaker & Sons Hospitality Inc.
Shamshuipo Schools Limited
Shamshulpo Schools Limited
Shine Grace Investment Ltd.
Shinning International Holdings Ltd.
Smartco Investment Limited
Soderick Limited
Sonata Symphony Sdn. Bhd.
Speed Tender Limited
Strawberry Investment Holdings Overseas Limited
Sun Rays International Limited
Sunny Century investment Limited
Sunny Eastern Limited
Sunny Scene Limited
Super Best Enterprise Ltd
Super Link Profits Lid.
Super Link Profits Ltd.
Surrey Central Developments Ltd.
The Pravo Group Ltd
Victor Time Limited
Well Champ Properties Limited
West Village General Partnership
West Village Parcel 6 GP Ltd.
West Village Parcel 6 Holdings Ltd.
West Village Parcel 7 GP Ltd.
West Village Parcel 7 Holdings Ltd.
West Village Parcel 8 GP Ltd.
West Village Parcel 8 Holdings Ltd.
World Quest international Ltd.
Yinrex Ltd
Yinrex USA, Inc.

Save as disclosed above there are no additional disclosures to be made in accordance with Schedule Two paragraph (g) of the AIM rules.

Enquiries

Safestay plc	+44 (0) 20 8815 1600
Larry Lipman
Sharon Segal
Canaccord Genuity Limited (Nominated Adviser and Broker)	+44 (0) 20 7523 8000
Chris Connors Martin Davison
Novella	+44 (0) 20 3151 7008
Tim Robertson
Toby Andrews

This information is provided by RNS

The company news service from the London Stock Exchange

END BOATFBLTMBIMMFR