RNS Number : 0490O

Hostelworld Group PLC

04 February 2021

February 2021

For Immediate Release




Further to the announcement on 18 January 2021, the Company is pleased to announce that at the General Meeting held earlier today, the ordinary resolution to change the borrowing limit for the purposes of its Articles of Association to a fixed amount of EUR40 million was voted on by poll and duly passed.

The Company is also pleased to announce that it is now in advanced negotiations with a lender in relation to a new EUR30 million debt facility and will provide further updates in due course.

In accordance with Listing Rule 9.6.2, copies of the resolutions passed at the General Meeting are being submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism . In accordance with the Listing Rules of Euronext Dublin, a copy of the Resolution has also been forwarded to Euronext Dublin and will shortly be available for inspection at the following address:

Companies Announcement Office

Euronext Dublin

28 Anglesea Street

Dublin 2

The full details of the votes cast are as follows:

 Resolution                              Votes        %      Votes      %      Votes        % Of ISC Voted   Votes 
                                          For                 Against           Total                         Withheld 
 1. To increase the maximum permitted 
  aggregate amount of all outstanding 
  borrowings of the 
  group to EUR40 million for the 
  purposes of the Company's articles 
  of association.                        83,091,758   99.9   8,857      0.01   83,100,615   71.44            3,504 
                                        -----------  -----  ---------  -----  -----------  ---------------  ---------- 

The issued share capital at the date of the General Meeting was 116,321,185 ordinary shares of EUR0.01 each.

*A 'vote withheld' is not a vote in law and has not been counted in the calculation of votes for and against.

For further information please contact:

Hostelworld Group plc

Gary Morrison Chief Executive Officer

Caroline Sherry Chief Financial Officer

Rudolf O'Kane Head of Commercial Finance

Tel: +353 (0) 1 498 0700

Powerscourt (Financial PR adviser)

Lisa Kavanagh

Eavan Gannon

Jack Shelley

Tel: +44 (0) 20 7250 1446

Email: hostelworld@powerscourt-group.com

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(END) Dow Jones Newswires

February 04, 2021 08:29 ET (13:29 GMT)

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