REG - Yu Group PLC - Result of AGM

YuAnnouncement

23/05/2024 12:00

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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 (http://www.yugroupplc.com) .

 

 

For further information, please contact:

 Yü Group PLC       +44 (0) 115 975 8258

 Bobby Kalar

 Paul Rawson

 Liberum            +44 (0) 20 3100 2000

 Edward Mansfield

 Satbir Kler

 Anake Singh

 Teneo               +44 (0) 20 7353 4200

 Giles Kernick

 Tom Davies

 

 

 

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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