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 0.0% 34.50 33.00 36.00 34.50 33.20 34.50 70,000 08:00:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 52.8 -6.1 -11.8 - 16

GYG PLC Statement re Board Changes

16/12/2021 7:00am

UK Regulatory (RNS & others)

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RNS Number : 8123V


16 December 2021

16 December 2021

GYG plc

("GYG", the "Company" or the "Group")

Statement re Board Changes

GYG (AIM: GYG), the market leading superyacht painting, supply and maintenance company, announces that Stephen Murphy has decided to step down from his role as Independent Non-Executive Chairman. Stephen will be replaced by Richard McGuire with immediate effect.

Richard McGuire has almost 40 years of experience of investment markets, having worked within private equity, investment banking, institutional asset management companies and as a board member of various listed companies. Richard's most recent roles were with Sportech plc which he joined in 2016 as a Non-executive Director, becoming Chairman in 2017 and then Chief Executive Officer in 2019, overseeing a restructuring of the business completed in August 2021 when he stepped down from Sportech's board. Richard has also previously served as a Non-executive Director of Timeweave plc and Mitchells & Butlers plc. Mr McGuire has, in the past, also held management positions at Tavistock Group, Citigroup, Salomon Brothers and HSBC.

Commenting, Stephen Murphy said : "I have very much enjoyed working with the GYG board and wider team throughout my time as Chairman and decided that now is the right time to hand over to Richard as my successor. Clearly this year has had its challenges, however, the outlook for the business is positive and GYG remains well-positioned to capitalise on the clear growth opportunities ahead. I look forward to watching the business progress over the coming years and wish Richard, Remy and the rest of the team all the very best for the future."

Remy Millott, Chief Executive Officer of GYG, said: "My board colleagues and I would like to thank Stephen for his wise counsel and stewardship as Chairman and his substantial contribution over the last few years. We all wish him well in his future endeavours."

Richard McGuire, Independent Non-Executive Chairman of GYG, said : "I am pleased to be taking on this role with GYG. The fundamentals are in place and the business is well-positioned for the future. Remy and his management team provide a wealth of industry expertise and I am looking forward to working with them all going forward."

For further information:

 GYG plc                          via FTI Consulting 
  Remy Millott, Chief Executive    Tel: +44 (0) 20 3727 1000 
  Kevin McNair, Chief Financial 
 Singer Capital Markets           Tel: +44 (0) 20 7496 3000 
  Tom Salvesen 
  Peter Steel, Amanda Gray 
 FTI Consulting                   Tel: +44 (0) 20 3727 1000 
  Alex Beagley 
  Fiona Walker 
  Rafaella de Freitas 

The following disclosures are required regarding Mr McGuire's appointment pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies ("AIM Rules"):

Full name: Richard Anthony McGuire

Age: 55

Current directorships:

   --      Grey Wolf Investments Limited 

Previous directorships in the last five years:

   --      Bet 247 Limited 
   --      C&P Promotions Limited 
   --      Datatote (England) Limited 
   --      Fortem Capital Holdings Ltd 
   --      Fortem Capital International Ltd 
   --      Fortem Capital Limited 
   --      Fortem Capital AGF Limited 
   --      Pools Company Limited 
   --      Pools Promotions Limited 
   --      Sportech Gaming Limited 
   --      Sportech Group Holdings Limited 
   --      Sportech Holdco 1 Limited 
   --      Sportech Holdco 2 Limited 
   --      Sportech Management Limited 
   --      Sportech plc 
   --      Sportech Pools Competitions Limited 
   --      Sportech Pools Games Limited 
   --      Sportech Pools Limited 
   --      Sportech Pools Trustee Company Limited 
   -- Limited 
   --      Lot.To Systems Limited 
   --      PlayLot.To Limited 
   --      Sportech Lotteries LLC 
   --      Sportech Retail LLC 
   --      IC Development Limited 
   --      Sportech Racing, LLC 
   --      eBet Technologies Inc. 
   --      Sportech Racing Canada Inc. 
   --      Racing Technology Ireland Limited 
   --      Sportech France SAS 
   --      Sportech Racing Elekronik ve Bilgisayer Hizmetleri Sangayi Ticaret Limited Sirketi 
   --      Autotote Europe GmbH 
   --      Sportech Racing GmbH 

Save as set out above, there is no further information to be disclosed in respect of Mr Richard McGuire under Rule 17 and Schedule 2(g) of the AIM Rules.

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 announcement contains information which, prior to its disclosure, was inside information as stipulated under the UK version of article 7 of the Market Abuse Regulation (EU) No. 596/2014.

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(END) Dow Jones Newswires

December 16, 2021 02:00 ET (07:00 GMT)

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