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Share Name Share Symbol Market Type Share ISIN Share Description
Yu Group Plc LSE:YU. London Ordinary Share GB00BYQDPD80 ORD GBP0.005
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -6.50 -10.4% 56.00 55.00 57.00 62.50 56.00 62.50 165,248 16:12:39
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 111.6 -6.0 -31.0 - 9

Yu Group PLC Board Changes

08/01/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 0624Z

Yu Group PLC

08 January 2020

8 January 2020

Yü Group PLC

(the "Group")

Board Changes

Yü Group PLC (AIM; YU.), the independent supplier of utilities to the UK corporate sector, today announces that Mr Ralph Cohen, Chairman of the Board, a position he has held since the Group was admitted to trading on AIM in 2016, will be stepping down from his role and leaving the Board following a period of transition. The Group is pleased to announce the following appointments have been made to the Board with immediate effect:

Independent Non-Executive Chairman

Robin Paynter Bryant today joins the Board as Non-Executive Chairman. Robin has over 30 years' experience working in the City of London for a number of financial institutions, having joined Hill Samuel & Co. Ltd in 1983 to work on asset, liability and treasury risk management for utility and large companies. He has a strong background in regulation, compliance and corporate governance and advised companies such as Severn Trent Water Plc, Endesa SA, Italgas SpA and Centrex European Energy & Gas AG. From 2012 to 2016 Robin was a Non-Executive Director of the UK Water Economic Regulatory Authority, OFWAT.

Senior independent Non-Executive Director

Tony Perkins today joins the Board as senior independent Non-Executive Director. Tony has had a long career at accountants BDO where he was appointed a partner in 1990, having joined in 1980. He has acted for many fully listed and AIM companies in the professional services, natural resources, technology, manufacturing and retail sectors. He has extensive experience in financial, governance and risk management and has advised on corporate strategy, transactions and expansion of businesses in the UK and internationally. Tony has held senior management positions at BDO as a member of the firm's Leadership Team including Head of its London Operations and National Head of Audit.

Commenting on his departure, Ralph Cohen said: "I have been honoured to be Chairman of Yü Group, through the IPO and rapid development of the business, notwithstanding the challenges we have faced. I wish the Group, the Board and all stakeholders every success in the future."

Bobby Kalar, Chief Executive Officer of Yü Group, commented: "I would like to thank Ralph for his support over the last four years, he leaves the Group in a much stronger position and I wish him all the best in retirement.

"Strengthening the Board as the Group embarks on its renewed phase of development is a strategic move building on the rapid maturity of the business over the past few years, and to further steer us to secure growth opportunities going forward. I am delighted to welcome Robin and Tony to the Board. The appointment of such high calibre individuals brings the necessary skills and strengths the Group requires to take the Company to the next stage of its evolution and complement the existing Board. I look forward to updating the market in due course."

For further information please contact:

 
 Yü Group PLC    +44 (0) 115 975 8258 
 Bobby Kalar 
 Paul Rawson 
 
 Shore Capital        +44 (0) 20 7408 4090 
 Advisory 
  Edward Mansfield 
 Anita Ghanekar 
  James Thomas 
 
  Broking 
 Fiona Conroy 
 Alma PR              +44 (0) 20 3405 0205 
 John Coles 
 Hilary Buchanan 
 Helena Bogle 
 

The following disclosures in relation to the appointment of Robin Francis Paynter Bryant, aged 59, are required pursuant to Schedule 2(g) of the AIM Rules for Companies:

 
 Current directorships   Past directorships and partnerships held 
  and partnerships:       over the last 5 years: 
 Boskenna Capital        E-PAY International Limited 
 Unity Link Financial    ICG Capital and Finance Corp (UK) Ltd 
  Services Ltd 
                         Leaseum Partners UK Ltd 
                         London Merchant Bank limited 
                         Mayfair International Advisory Group Ltd 
 
                         OFWAT 
 

The following disclosures in relation to the appointment of Anthony John Perkins, aged 61, are required pursuant to Schedule 2(g) of the AIM Rules for Companies:

 
 Current directorships   Past directorships and partnerships held 
  and partnerships:       over the last 5 years: 
                         BDO LLP 
 

Robin Paynter Bryant and Tony Perkins have confirmed that no further information is required to be disclosed pursuant to AIM Rule 17 and Schedule 2(g) of the AIM Rules for Companies.

Notes to Editors

Yü Group PLC, trading as Yü Energy, is an independent supplier of gas, electricity and water focused on servicing the business sector throughout the UK. It has no involvement in the domestic retail market. The Group was listed on the AIM market of the London Stock Exchange in March 2016.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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.

END

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January 08, 2020 02:00 ET (07:00 GMT)

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