GYG PLC Result of General Meeting (7788X)

TIDMGYG

RNS Number : 7788X

GYG PLC

31 August 2022

GYG plc

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

Result of General Meeting

GYG (AIM: GYG), the superyacht painting, supply and maintenance company, announces that at the Company's General Meeting held earlier today all resolutions were duly passed.

In accordance with the passing of resolution 1, cancellation of admission of the Company's ordinary shares to trading on AIM will become effective on 8 September 2022. In accordance with the passing of resolution 2, the Company will re-register as a private limited company with the name GYG Limited and adopt new articles of association, which is expected to take place in the week commencing 12 September 2022. The results of the polls were as follows:

 
 Resolution          Votes For               Votes Against         Votes          Total 
                                                                  Withheld         Votes 
                                                                              Cast (excluding 
                                                                                 Withheld) 
                No. of     % of shares   No. of    % of shares    No. of 
                shares        voted       shares      voted        shares 
             -----------  ------------  --------  ------------  ---------- 
     1        30,682,087      99.49      157,925      0.51           0          30,840,012 
             -----------  ------------  --------  ------------  ----------  ----------------- 
     2        30,681,887      99.49      158,125      0.51           0          30,840,012 
             -----------  ------------  --------  ------------  ----------  -----------------

Notes:

1. Votes withheld have not been counted in the calculation of the proportion of the votes "for" and "against" resolutions.

2. Valid proxy instructions were received in respect of 30,840,012 shares representing 66.16% of the issued share capital, excluding shares held in treasury.

3. Any proxy appointments which gave discretion to the Chairman have been included in the "for" total.

Total shares in issue as at 31 August 2022: 46,640,000, of which 24,500 are held in treasury.

Shareholders are reminded that the last day of dealings in GYG plc ordinary shares on AIM, will be 7 September 2022.

With effect from Cancellation, the Company expects to implement a matched bargain facility provided to facilitate future trading in its shares. A further announcement will be made in due course.

Further details of the Cancellation are set out in the Circular dated 3 August 2022. Terms defined in the Circular apply throughout this announcement. A copy of the Circular is available on the Company's website, www.gygplc.com .

For further information, please contact:

 
 GYG plc                                    via FTI Consulting 
  Richard McGuire, Non-executive Chairman    Tel: +44 (0) 20 3727 
  Remy Millott, Chief Executive Officer      1000 
  Kevin McNair, Chief Financial Officer 
 Singer Capital Markets                     Tel: +44 (0) 20 7496 
  Tom Salvesen                               3000 
  Peter Steel, Amanda Gray 
 FTI Consulting                             Tel: +44 (0) 20 3727 
  Alex Beagley                               1000 
  Fiona Walker                               gyg@fticonsulting.com 
  Rafaella de Freitas

Notes to Editors:

GYG is a superyacht painting, supply and maintenance company, offering services globally through operations in the Mediterranean, Northern Europe and the United States. The Company's brands include Pinmar, Pinmar Yacht Supply, and Technocraft. GYG's operations can be divided into three key sales channels:

-- Refit: repainting and finishing of superyachts, normally as part of a refit programme. Revenues also include scaffolding, containment and the removal and repair of fittings

   --        New Build: fairing and painting of new vessels as part of the build process

-- Supply: the sale and delivery of maintenance materials, consumables, spare parts and equipment primarily to superyachts and trade customers

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END

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August 31, 2022 06:19 ET (10:19 GMT)

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