GYG PLC Admission to AIM and First Day of Dealings (1623K)

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: [phone] 
  Officer 
  Gloria Fernandez, Chief 
  Financial Officer 
 
 Zeus Capital Limited (NOMAD      Tel: [phone] 
  & Broker) 
  Dan Bate 
  Giles Balleny 
  Jonathan Sharp 
  Ben Burnett 
 
 FTI Consulting (Financial        Tel: [phone] 
  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

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July 05, 2017 03:04 ET (07:04 GMT)