GYG plc share price, company news, analysis and interviews

GYG Plc (LON:GYG), the market leading superyacht painting, maintenance and supply company, has noted today’s announcement from Harwood Capital LLP that it is no longer considering making an offer for GYG. Following collaborative discussions throughout the due diligence process, the Board of GYG is in agreement with Harwood’s decision that now is not the appropriate time to progress a potential offer. As such, the Company is no longer in an offer period. The Board welcomes Harwood’s confirmation of its continued support as a significant shareholder in the Company.    As set out in the Group’s interim results for the six months ended

The board of GYG plc (LON:GYG) provided an update in relation to various matters, as set out below. Update re: Nobiskrug Shipyard and the Company’s financial position The Company announced, on 13 April 2021, that administrators had been appointed at the Nobiskrug Shipyard in Germany. The Company has three active contracts and certain invoices outstanding, relating to work completed in 2021 at the shipyard, totalling approximately €2.8m (excluding VAT). The Company has, since April, continued in constructive discussions with the various parties involved, with a view to agreeing a programme of works and a payment schedule for completion of the contracts, which

GYG plc (LON:GYG) have provided the following update with regard to discussions with Harwood Capital. On 9 April 2021, Harwood Capital, the Company’s second largest shareholder, announced that it was in the preliminary stages of evaluating a possible offer for the entire issued and to be issued share capital of the Company. On 7 May 2021, GYG plc confirmed that the put-up or shut-up deadline prescribed by Rule 2.6(c) of the Code had been extended to 04 June 2021 to provide a basis for preliminary negotiations to continue (without commitment on either side) and due diligence access was granted to Harwood Capital.

GYG plc (LON:GYG) Remy Millott (CEO) and Kevin McNair (CFO) will provide a live presentation relating to the Group’s Final Results for the year ended 31 December 2020 via the Investor Meet Company platform on Tuesday 4th May at 10.30am BST. The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9.00am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet GYG plc via: https://www.investormeetcompany.com/gyg-plc/register-investor Investors who already follow GYG PLC on the Investor Meet Company