23 May 2024
Yü Group
PLC
("Yü
Group", the "Company" or the "Group")
Result of AGM, Dividend
Timetable and Capital Reduction Process
Yü Group (AIM: YU.), the independent
supplier of gas and electricity, meter asset owner, and installer
of smart meters to the UK corporate sector, announces that all
resolutions proposed at the Company's Annual General Meeting were
passed on a poll.
Accordingly, the Company will pay a
final dividend of 37 pence (2022: 3 pence) in relation to the year
ended 31 December 2023. The dividend will be payable on 20 June
2024 to all shareholders on the register on 31 May 2024 and the
shares will go ex-dividend on 30 May 2024.
Following the passing of resolution
9 in relation to the capital reduction process, the Company
confirms that it will progress, subject to formal approval from the
Court, the cancellation of the Company's share premium account
which currently stands at approximately £12.28 million. It is
currently expected that the hearing by the Court to confirm this
capital reduction will take place on 2 July 2024 and that the
capital reduction will become effective on 3 July 2024. Such
capital reduction, if effective, will reduce the share premium
account and increase distributable reserves of the Company by
£12.28 million.
A brief presentation delivered at
the AGM, together with the results of the AGM voting, will be
published on the Group's investor website at
www.yugroupplc.com.
For
further information, please contact:
|
Yü
Group PLC
Bobby Kalar
Paul Rawson
|
+44 (0) 115 975 8258
|
|
Liberum
Edward Mansfield
Satbir Kler
Anake Singh
|
+44 (0) 20 3100 2000
|
|
Teneo
Giles Kernick
Tom Davies
|
+44 (0) 20 7353
4200
|
Notes to Editors
Information on the Group
Yü Group PLC is a leading supplier of
gas and electricity focused on servicing the corporate sector
throughout the UK. We drive innovation through a combination of
user-friendly digital solutions and personalised, high quality
customer service. The Group plays a key role supporting businesses
in their transition to lower carbon technologies with a commitment
to providing sustainable energy solutions.
Yü Group has a clear strategy to
deliver sustainable profitable growth (in a £50bn+ addressable
market) and value for all of our stakeholders, built on strong
foundations and with a robust hedging policy. The Group has
achieved a compound annual growth rate of over 60% over the last
four years, and has consistently improved margin and profitability
performance. In 2023 the Group launched Yü Smart and Yü Charge to
support growth through new opportunities in smart metering
installation.