TIDMGYG
RNS Number : 1623K
GYG PLC
05 July 2017
Disclaimer
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF
IRELAND, THE REPUBLIC OF SOUTH AFRICA OR TRANSMITTED, DISTRIBUTED
TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH
COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR
REGULATIONS.
This announcement is an advertisement and not an admission
document or a prospectus and does not constitute or form part of an
offer to sell or issue or a solicitation of an offer to subscribe
for or buy any securities nor should it be relied upon in
connection with any contract or commitment whatsoever. Investors
should not purchase or subscribe for any transferable securities
referred to in this announcement except on the basis of the
information in the admission document (the "Admission Document")
published by GYG plc (the "Company", "GYG" and together with its
subsidiaries the "Group") in connection with the proposed admission
of its ordinary shares of GBP0.002 pence each in the capital of the
Company ("Ordinary Shares") to trading on AIM, a market operated by
London Stock Exchange plc ("Admission"). Copies of the Admission
Document are available during normal business hours on any day
(except Saturdays, Sundays and public holidays) at the registered
office of the Company, subject to applicable securities laws or
regulations.
5 July 2017
GYG plc
Admission to AIM and First Day of Dealings
GYG, a market leading superyacht painting, supply and
maintenance company, is pleased to announce the commencement at
8.00 a.m today of dealings of its Ordinary Shares on AIM, a market
operated by the London Stock Exchange plc, under the ticker "GYG"
and the ISIN number GB00BZ4FM652.
The Admission Document, along with the information required by
AIM Rule 26, is available on the Company's website,
www.globalyachtinggroup.com/investor-relations.
IPO highlights:
Placing Price 100p
Gross proceeds of the Placing GBP6.9
million
Percentage of Enlarged Ordinary Share
Capital represented by the Placing Shares 14.9%
Market Capitalisation at the Placing GBP46.6
Price million
Number of Ordinary Shares in issue at
Admission 46,640,000
Zeus Capital is acting as the Company's Nominated Adviser and
Broker.
Enquiries:
GYG plc via FTI Consulting
Remy Millott, Chief Executive Tel: +44 (0) 20 3727 1000
Officer
Gloria Fernandez, Chief
Financial Officer
Zeus Capital Limited (NOMAD Tel: +44 (0) 20 3829 5000
& Broker)
Dan Bate
Giles Balleny
Jonathan Sharp
Ben Burnett
FTI Consulting (Financial Tel: +44 (0) 20 3727 1000
PR)
Oliver Winters
Alex Beagley
Fiona Walker
George Robinson
Notes to Editors:
GYG is a 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, Rolling Stock, Pinmar Supply,
Pinmar USA, Techno Craft and ACA Marine. 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.
Superyachts require a major survey service every five years to
comply with certain class, maritime laws and insurance
requirements. Owners typically undertake an annual haul out and
general maintenance to remain ahead of the service intervals and to
keep the vessels in optimum condition. Owners often use the major
servicing period as an opportunity for repainting the vessel,
providing GYG with a source of repeat business.
Forward looking statements
All statements other than statements of historical fact included
in this announcement, including, without limitation, those
regarding the Group's financial position, business strategy, plans
and objectives of management for future operations or statements
relating to expectations in relation to shareholder returns,
dividends or any statements preceded by, followed by or that
include the words "targets", "estimates", "envisages", "believes",
"expects", "aims", "intends", "plans", "will", "may",
"anticipates", "would", "could" or similar expressions or the
negative thereof, are forward looking statements.
Such forward looking statements involve known and unknown risks,
uncertainties and other important factors beyond the Group's
control that could cause the actual results and performance to be
materially different from future results and performance expressed
or implied by such forward looking statements. Such forward looking
statements are based on numerous assumptions regarding the Group's
present and future business strategies and the environment in which
the Group will operate in the future.
These forward looking statements speak only as of the date of
this announcement. The Company expressly disclaims any obligation
or undertaking to disseminate any updates or revisions to any
forward looking statements contained herein to reflect any change
in the Company's expectations with regard thereto, any new
information or any change in events, conditions or circumstances on
which any such statements are based, unless required to do so by
law or any appropriate regulatory authority.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAKXSEDNXEEF
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July 05, 2017 03:04 ET (07:04 GMT)
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