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Nustay has bankruptcy approved and trustee appointed

Nustay A/S (“Nustay”) has today announced that its bankruptcy application has been approved by ‘Skifteretten’ (the Danish court handling bankruptcies and liquidations). Skifteretten has also appointed Anders Hammer Hansen, from Brockstedt-Kaalund Advokatpartnerselskab, as trustee to handle the bankruptcy process.Bankruptcy approved and trustee appointed ‘Skifteretten’ (the Danish court handling bankruptcies and liquidations) has approved Nustay’s bankruptcy application and has appointed Anders Hammer Hansen, Advokat (H) and partner at Brockstedt-Kaalund Advokatpartnerselskab, as trustee.

Nustay files for bankruptcy following serious challenges of the COVID-19 crisis

Nustay A/S (“Nustay”) has today announced that as a result of the COVID-19 crisis, it will be filing for bankruptcy. The company has experienced a very significant drop in sales volume due to the continuing global travel restrictions - with sales at 5% of the volume of January and February 2020. This continued industry-wide uncertainty has also made meant that the company has been unable to secure sufficient funding to continue operations.COVID-19 crisis has continued to present difficult challenges As a result of the continuing global travel restrictions, Nustay’s Board of Directors

Nustay A/S: Update on financial situation

Nustay A/S (“Nustay” or “the Company”) hereby announces that the Company does not have sufficient capital to sustain operations for at least three months. Currently, Nustay estimates that it has funds that will be sufficient for approximately one  month. The Company is working intensively to explore different alternatives to secure financing. Nustay cannot, however, make any precise estimates in terms of its capital need, as this is dependent on potential future revenue, which is difficult to forecast in light of the ongoing Covid-19 pandemic. The situation has arised as a result of the

Registration at the Danish Business Authority

Nustay A/S (“Nustay” or “the Company”) hereby informs that the warrants that were issued in connection with the warrant exercise that ended on September 10[th], 2020 have been registered with the Danish Business Authority.Number of shares and share capital In total, 31,709 warrants were exercised. This means that a total of 31,709 new shares has now been registered with the Danish Business Authority (Danish “Erhvervsstyrelsen”). After the registration, the total number of shares in Nustay amount to 48,620,149 shares, and the share capital amount to DKK 1,944,805.96. For more

Nustay announces outcome of the warrant exercise

September 10[th], 2020, was the last day in the exercise period for the warrants that were issued in connection with Nustay A/S (“Nustay” or “the Company”) issue of units during March 2020. In total, 31,709 warrants were exercised, corresponding to a subscription rate of 0.2 percent.Warrant exercise In total, 31,709 warrants were exercised. This means that a total of 31,709 new shares will be registered with the Danish Business Authority (Danish “Erhvervsstyrelsen”) and that the total issue proceeds amount to DKK 39,636.25. The issue costs amount to approx. DKK 0.2 million. When the new

Nustay enters new partnership agreement with Bedsopia

Nustay A/S (“Nustay”) has today announced a new distribution agreement with Bedsopia. Bedsopia is a growing hotel supplier, offering direct access to 2,500 hotels across more than 25 countries.New Partnership Nustay has entered into a new distribution agreement with Bedsopia. Founded in 2016, Bedsopia provides Nustay with direct access to 2,500 hotels across more than 25 countries. Bedsopia offers competitive rates on highly rated properties by using an advanced and efficient API interface to provide its wide distribution base. The company’s multi-solution system can handle approximately

Carlsquare publishes analysis of Nustay A/S as an investment case

Carlsquare has made an analysis of Nustay as an investment case. The analysis was published today (in Swedish) and is available here .For further information about Nustay, please contact:                          Investor Relations, Nustay A/S E-mail: investor@nustay.com Website: www.nustay.com 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

Last day of trading with warrants in Nustay A/S is September 8[th] 2020

Tuesday, September 8[th] 2020, is the last day of trading on Spotlight Stock Market in Nustay A/S (“Nustay” or “the Company”) warrants that were issued in connection with the issue of units in March 2020. The last day to subscribe for new shares with the support of warrants is September 10[th] 2020.Warrants that have not been exercised by the subscribing of new shares by Thursday, the 10[th] of September 2020 or sold by Tuesday, the 8[th] of September 2020 will expire worthlessly. For the warrant holders’ warrants not to expire wortlessly, the warrant holders need to take action and

Communique from the Annual General Meeting of Nustay A/S

Today, on August 31, 2020, the Annual General Meeting was held of Nustay A/S. Below follows a summary of the established decisions. All decisions were taken with the required majority.Item 1: Election of chairman of the meeting Chantal Pernille Patel was elected the chairman of the general meeting.  Item 2: The Board of Directors’ report on the company’s activities in the past financial year The general meeting took note of the board of directors’ report on the Company’s activities in 2019. Item 3: Presentation of the Company’s annual report for 2019 for adoption The general

Nustay updates on new business strategy and intentions to move stock exchange listing and to list in the USA

Nustay A/S (“Nustay”) has today announced its intention to move from Spotlight Stock Market (Sweden) to NASDAQ First North Growth Market Denmark and concurrently to list on OTC Market Groups OTC/QB list in the USA. Increased liquidity in the trading of the shares, making trading more accessible for both Danish and US investors and to be on trading platforms that best supports the company’s growth prospects are the key reasons. Nustay has further revealed its new business strategy, including the launch of two new platforms: travelpalm.com and searchcheaphotels.com.From Spotlight to NASDAQ

The exercise period for warrants in Nustay A/S begins today

Today, August 27[th], 2020, marks the beginning of the exercise period for the warrants that were issued in connection with Nustay A/S (“Nustay” or “the Company”) issue of units during March 2020. The exercise period runs until and including September 10[th], 2020. Upon full exercise of all warrants, Nustay will be allocated approximately DKK 22.8 million (before costs).Nustay issued units in connection to its rights issue during March 2020. Each unit consisted of five shares and three warrants. During the exercise period, which starts today, each warrant holder has the possibility, for

Nustay A/S: Publication of Half-Year Report for 2020

Nustay A/S (“Nustay”) hereby publishes its Half-Year Report for the period January – June 2020. The report is available as an attached document to this press release and on the company's website (investor.nustay.com). Below is a summary of the report.CEO Mathias Lundoe Nielsen comments: “The first half of 2020 has without a doubt been one of the toughest and most challenging periods for Nustay yet. With prolonged lockdown and travel bans, the travel industry has been one of the industries most affected by the COVID-crisis. Despite this, we have been able to further expand our product

Publication of Annual Report for the fiscal year 2019

The Board of Directors and the Chief Executive Officer of Nustay A/S hereby publish the Annual Report for the fiscal year 2019. The Annual Report and the accompanying Auditor’s Report is available on the company’s website .  The Annual Report and the accompanying Auditor’s Report is available on the company’s website .  For further information about Nustay, please contact:                       Investor Relations, Nustay A/S E-mail: investor@nustay.com Website: www.nustay.com This information is information that

ANNUAL GENERAL MEETING

To the shareholders of Nustay A/S The board of directors hereby convenes the annual general meeting of Nustay A/S, CVR no. 36 09 03 16, (the ”Company”), to be held on: Monday 31 August 2020 at 11:00 (CEST) at Gorrissen Federspiel Advokatpartnerselskab, Axeltorv 2, DK-1609 Copenhagen V, Denmark  Agenda 1.           Election of chairman of the meeting 2.           The board of directors’ report on the Company’s activities in the past financial year 3.           Presentation of the Company’ annual report for 2019 for adoption 4.           Resolution concerning the

Nustay receives state grant on DKK 1.4 million

Nustay A/S (“Nustay”) announces that it has received a DKK 1.4 million grant from the Danish government to cover fixed costs between 9[th] March and 8[th] July, as part of the government’s COVID-19 help packages.Details of the grant Nustay has obtained a DKK 1.4 million grant from the Danish government to cover fixed costs between 9th March and 8[th] July, as part of the government’s COVID-19 help packages. The Danish government’s ‘company fixed costs compensation’ has been designed to support businesses whose revenue has been impacted by the COVID-19 crisis. The grant seeks to partly

Nustay restarts full global marketing activities

Nustay A/S (“Nustay”) announces that it will be fully restarting its global marketing activities this week. The Company will be moving to the next stage of it’s COVID-19 recovery strategy, which will see the reactivation of marketing activities across the world as the hotel booking market is starting to pick up again. The marketing strategy will focus on an CPA model, a wider metasearch (price comparison websites) presence, and an optimised hotel supplier base.Nustay Marketing Strategy Nustay has set in motion the next stage of its post-COVID strategy. The decision to take this step

Nustay secures DKK 6.8 million ‘Syndicated Loan’ from Vækstfonden

Nustay A/S (“Nustay”) announces that it has secured a further loan from Vækstfonden. The ‘syndicated loan’ is on DKK 6.8 million, which together with the previously announced loan totals DKK 9.8 million (DKK 6.8 million syndicated loan and DKK 3.0 million business angel loan respectively).Details of Syndicated Loan Nustay has obtained a loan from the Danish state’s investment fund, Vaekstfonden, totalling DKK 6.8 million. This means that Nustay has now obtained two loans from the Danish state’s investment fund, Vaekstfonden, which together total DKK 9.8 million (DKK 6.8 million

Nustay secures DKK 3 million ‘Business Angel’ loan from Vækstfonden

Nustay A/S (“Nustay”) announces that it has secured a loan from Vækstfonden totalling DKK 3.0 million. The ‘Business Angel’ loan matches an investment of Vaekstfonden approved Business Angels and has been designed to assist growth companies which have been particularly impacted by the COVID-19 crisis.Details of Business Angel Loan Nustay has obtained a loan from the Danish state’s investment fund, Vaekstfonden, totalling DKK 3.0 million. The ‘Business Angel’ loan has been agreed by matching an investment made by a Vaekstfonden approved syndicate of Business Angels. The loan product has

Nustay enters new partnership agreement with Rakuten Travel Xchange

Nustay A/S (“Nustay”) has today announced a new distribution agreement with Rakuten Travel Xchange Pte. Ltd. (“Rakuten Travel Xchange”) . The Japanese company is a leading online hotel and vacation rental accommodation supplier which offers an extensive inventory of over 500,000 hotels and 200,000 rental properties across 200 countries.New Partnership Nustay has entered into a new distribution agreement with Rakuten Travel Xchange, giving Nustay access to over 700,00 vacation accommodation properties – 500,000 hotels and 200,000 vacation rental properties – from across 200 countries.

Update on Nustay complaint to EU Directorate-General for Competition: EU Commission publishes an open call for tenders for a market study on the distribution of hotel accommodation in the EU

Nustay A/S (“Nustay”) notes the EU Commission’s call for tenders for a market study on the distribution of hotel accommodation in the EU. The call seeks to have the study conducted in 2021, with the aim of providing up-to-date information on how hotels market and sell their rooms. This call for a market study, and the adjoining press statement, is relevant to Nustay’s complaint to the Directorate-General for Competition on June 11th, 2019. In its complaint Nustay alleges that EAN.com LP (“Expedia”) and Booking Holdings (“Booking.com”) could be acting in breach of Articles 101 and 102 of the

Nustay enters new partnership agreement with Destination Italia

Nustay A/S (“Nustay”) has today announced a new distribution agreement with Destination Italia. Destination Italia is a leading Destination Management Company for the Italian travel market, offering direct access to 8,000 hotels in Italy and over 100,000 hotels worldwide.About the new partnership Nustay has entered into a new distribution agreement with Destination Italia. As a leading Destination Management Company for the Italian travel market – with over 8,000 hotels in the country, of which 2,000 are exclusive hotel contracts – the partnership agreement further improve Nustay’s hotel

Nustay issues a market update on developments since the onset of the COVID crisis

Nustay A/S (“Nustay”) has today issued a market update detailing the Company’s actions and developments since the onset of the COVID-19 crisis. The update sets out that during this period Nustay paused all marketing activities and has focused entirely on developing and improving its website, booking platform, marketing partnerships and hotel portfolio. The update further presents how these developments position the Company to meet the slowly increasing market demand and likely changes to consumer behaviour in the post-COVID world.Continued development since the onset of the COVID-19 crisis

Nustay A/S: Publication of Interim Report for the first quarter 2020

Nustay A/S (“Nustay”) hereby publishes its Interim Report for the period January - March 2020. The report is available as an attached document to this press release and on the company's website (www.nustay.com). Below is a summary of the report.CEO Mathias Lundoe Nielsen comments: “This past quarter have been an eventful one, particularly colored by the ongoing pandemic crisis (Covid19). The situation is, as has been described before, extreme and we are constantly evaluating the situation to implement all possible measures, which we believe in the long run will have a positive impact on

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