Yu Group PLC Result of AGM

RNS Number : 6915P

Yu Group PLC

23 May 2024

 

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	[phone]
Liberum Edward Mansfield Satbir Kler Anake Singh	[phone]
Teneo Giles Kernick Tom Davies	[phone]

 

 

 

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.

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