GYG Gyg Plc

TIDMGYG

RNS Number : 6161A

GYG PLC

02 June 2021

2 June 2021

GYG PLC

Result of Annual General Meeting ("AGM")

GYG plc (AIM: GYG), the market leading global superyacht service and supply group , announces that resolutions 1 to 6 (inclusive) as set out in the Notice of AGM dated 7 May 2021, were duly passed today by the requisite majority.

Resolutions 7 to 9 (inclusive) were each proposed as a special resolution, which required a 75% majority of the votes to be cast in favour, and were narrowly defeated with 74.38%, 70.94% and 74.38% respectively of votes cast voting in favour. Each of these special resolutions was seeking a renewal of the relevant authority granted by shareholders at the 2020 AGM, and related to the following:

 
  Resolution    The disapplication of statutory pre-emption 
   7             rights for rights issues, etc and up to 5% of 
                 issued share capital (excluding treasury shares) 
  Resolution    The disapplication of statutory pre-emption 
   8             rights up to an additional 5% of issued share 
                 capital (excluding treasury shares) 
              --------------------------------------------------- 
  Resolution    Authority for the Company to purchase its own 
   9             shares 
              --------------------------------------------------- 
 

All of the resolutions put to the AGM were voted on by way of a poll, and the full results of each poll will shortly be available on the Company's website, www.gygplc.com .

For further information:

 
 GYG plc                                  via FTI Consulting 
  Remy Millott, Chief Executive Officer    Tel: +44 (0) 20 3727 
  Kevin McNair, Chief Financial Officer    1000 
 N+1 Singer                               Tel: +44 (0) 20 7496 
  Tom Salvesen                             3054 
  Peter Steel 
  Sebastian Burke 
 FTI Consulting                           Tel: +44 (0) 20 3727 
  Alex Beagley                             1000 
  Fiona Walker                             gyg@fticonsulting.com 
  Rafaella de Freitas 
 

Notes to Editors:

GYG is the market leading global superyacht service and supply group with operations across the Mediterranean, Northern Europe and the United States. The Company trades under Pinmar, Pinmar Yacht Supply and Technocraft brands and its operations are split between:

-- Coatings: Operating under the 40 year old Pinmar brand, this division works across two segments of the superyacht market, New Build and Refit. A New Build project involves the fairing and painting of new superyachts in the latter stages of a multiyear construction process. In the Refit division, the Group undertakes a variety of activities including repainting, finishing and caulking as well as bespoke scaffold containment systems and hardware removal (under the Technocraft brand) on a regular basis. Superyachts also require a major inspection and service every five years to comply with maritime, insurance and industry regulations, which will often include a substantial refit maintenance programme.

-- Supply: Trading under Pinmar Yacht Supply, this division operates the sale and delivery of maintenance materials, consumables, spare parts and equipment to superyachts and trade customers both via direct yacht sales and from retail stores across Europe's main shipyards.

Technical innovation lies at the heart of GYG, and the Group continues to innovate and invest in new application technology and training, leveraging its strong relationship with all the main superyacht paint manufacturers. Remaining at the forefront of application technology and quality standards is a key pillar of GYG's unique proposition, particularly to the New Build market.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RAGMZGGVZZKGMZM

(END) Dow Jones Newswires

June 02, 2021 08:17 ET (12:17 GMT)

Gyg (LSE:GYG)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Gyg (LSE:GYG)
Historical Stock Chart
Von Jul 2023 bis Jul 2024