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GYG trading performance for 2020 in line with market expectations

GYG plc (LON:GYG), the market leading superyacht painting, supply and maintenance company, has provided the following update on the publication of audited accounts for the year to 31 December 2019.

Following consultation with its auditors, the Group has concluded that due to the impact of the COVID-19 pandemic and new guidance issued by the FRC in April 2020, it will require more time to complete the audit process in respect of its accounts for the year ended 31 December 2019.

Therefore, with the consent of both AIM Regulation and Companies House, the announcement of the Group’s Final Results and publication of the 2019 Accounts will be delayed beyond the normal reporting deadline of 30 June 2020.  However, the Company expects to publish and file the 2019 Accounts no later than 31 July and will provide an update to the reporting date as and when appropriate.

As announced previously this year, the Directors remain confident that the Group´s trading performance for 2020 and its historic performance for 2019 are both in line with market expectations.

In light of the social distancing measures and other restrictions currently in place to limit the impact and spread of COVID-19, the Board has determined that it is not practical to hold the Company’s 2020 Annual General Meeting at the previously notified venue. The AGM will still proceed on the notified date of 30 June 2020 but, pursuant to the Company’s Articles of Association, the Board has determined that it will instead be held at Innovation House, 39 Mark Road, Hemel Hempstead, HP2 7DN.  The Board has also determined that, as envisaged in the notice of Annual General Meeting published on 5 June 2020, the AGM will be held as a closed meeting and shareholders will not be able to attend in person. All other details relating to the AGM remain unchanged from those included in the Notice.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.