Lone Fønss Schrøder has taken the decision to step down as a result of the heightened workload resulting from Nustay’s upcoming capitalization, which her other obligations prevent her from dedicating the necessary time to Chair. The recruitment process of a new Chairman has already been initiated.

Simon Skouboe, Board member and shareholder, comments:

“I would like to thank Lone for her invaluable contributions as Chairman of Nustay and fully understand her reasons for leaving. It has been a very time-consuming board work. In preparation for the previously announced proposed capitalization, and based on our learnings from the past year, we take this opportunity to add new competences.  We have brought in a new CFO, and we will further be reorganizing the Board with an intensified focus on hotel marketing and financing. We are working intensely to secure a new Chairman."

For further information about Nustay, please contact:                        

Mathias Lundoe Nielsen, CEO, Nustay A/S

Telephone: +45 22 91 94 99

E-mail: mln@nustay.com

Website: www.nustay.com

This information is information that Nustay A/S is obliged to publish following the EU Market Abuse Regulation. The information was provided by the contact person above for publication on October 21, 2019.

About Nustay

Nustay is a Danish online hotel booking company established in 2014. The company has developed an innovative booking platform offering the lowest possible hotel prices while also enhancing customer’s booking experience. Nustay has set out an ambitious vision to become the global leader within the online hotel booking industry, and is confident its large hotel room inventory, discounted pricing system, and transparent booking process, will achieve that goal.