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GYG Gyg Plc

30.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gyg Plc LSE:GYG London Ordinary Share GB00BZ4FM652 ORD GBP0.002
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 30.00 25.00 45.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

GYG PLC Significant Refit Contract Signed

22/10/2020 7:00am

RNS Non-Regulatory


TIDMGYG

GYG PLC

22 October 2020

22 October 2020

GYG plc

("GYG" or the "Group")

Significant Refit Contract Signed

GYG (AIM: GYG), the market leading superyacht painting, supply and maintenance company, is pleased to announce the signing of a major Refit contract for a 115+ metre yacht in Germany with works scheduled to commence in Q420 and complete in H121.

This is the Group's largest turnkey project to date where it will provide a number of Refit services including bespoke scaffolding, hardware removal, caulking and complete repainting. The scale and timeline of this project highlights the Group's ability to deploy its unique turnkey solution efficiently and at scale across Europe.

Remy Millott, CEO of GYG commented:

"The sales team headed up by our Group Commercial Director, Rupert Savage, has achieved another milestone for the Group in winning this significant contract in Germany, marking our largest Refit to date. We continue to build on our recent momentum, as disclosed in our Interim Results; the signing of such a project underlines GYG's resilience and our ability to capitalise on opportunities despite COVID-19. The superyacht industry in both New Build and Refit remains robust and provides confidence on our growth trajectory. This project, alongside the commencement of several other previously announced Refit contracts demonstrates that our disciplined focus continues to further strengthen our record Order Book for the year ahead."

For further information:

 
 GYG plc                          via FTI Consulting 
  Remy Millott, Chief Executive    Tel: +44 (0) 20 3727 1000 
  Officer 
  Kevin McNair, Chief Financial 
  Officer 
 N+1 Singer                       Tel: +44 (0) 20 7496 3054 
  Tom Salvesen 
  Peter Steel, Sebastian Burke 
 FTI Consulting                   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 Yacht 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.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. 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

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(END) Dow Jones Newswires

October 22, 2020 02:00 ET (06:00 GMT)

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