TIDMGYG

GYG PLC

18 September 2020

18 September 2020

GYG plc

("GYG" or the "Group")

New Build Letter of Intent signed

GYG (AIM: GYG), the market leading superyacht painting, supply and maintenance company, is pleased to announce the signing of a Letter of Intent for a 100+ metre New Build yacht in Europe, scheduled to start in Q2 2021. This major project further develops the Group's strategic focus on building relationships directly with the leading New Build yards. This strategy has delivered continued success and GYG will be working on a record

number of New Build contracts   in 2021.

Remy Millott, CEO of GYG commented:

"I am pleased to have signed this Letter of Intent and this project provides additional forward visibility on the Order Book and adds to the record number of New Build projects that GYG will be working on in 2021, further increasing market share in this important sector."

For further information:

 
 GYG plc                               via FTI Consulting 
  Remy Millott, Chief Executive         Tel: +44 (0) 20 3727 1000 
  Officer 
  Kevin McNair, Chief Financial 
  Officer 
 Zeus Capital Limited (NOMAD &         Tel: +44 (0) 20 3829 5000 
  Broker) 
  John Goold, Dominic King 
  Dan Bate, Nick Cowles, Ben Burnett 
 FTI Consulting (Financial PR)         Tel: +44 (0) 20 3727 1000 
  Alex Beagley 
  Fiona Walker 
  Rafaella de Freitas

Notes to Editors:

GYG is the market leading 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 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 and containment work;

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

-- Supply: selling and delivery of maintenance materials, consumables, spare parts and equipment primarily to trade customers.

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END

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September 18, 2020 02:00 ET (06:00 GMT)

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