GYG PLC Statement re Board Changes (8123V)
December 16 2021 - 2:00AM
UK Regulatory
TIDMGYG
RNS Number : 8123V
GYG PLC
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
Officer
Kevin McNair, Chief Financial
Officer
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
-- Thepools.com 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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