YU..L

Yu Group PLC
Yu Group PLC - Result of Court Hearing on Capital Reduction
3rd July 2024, 12:42
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 0240V
Yu Group PLC
03 July 2024
 

3 July 2024

 

Yü Group PLC

("Yü Group", the "Company" or the "Group")

 

Result of Court Hearing on Capital Reduction

 

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 the cancellation of the Company's share premium account (the "Capital Reduction") was sanctioned yesterday by the High Court of Justice of England and Wales (the "Court").

The Court order confirming the Capital Reduction and a statement of capital approved by the Court in connection therewith has been sent to the Registrar of Companies. The Capital Reduction will become effective upon the registration of the Court order and associated statement of capital by the Registrar of Companies. The Capital Reduction, when effective, will increase the distributable reserves of the Company by £12.28 million.

Further information relating to the Capital Reduction is set out in the Company's notice of annual general meeting published on 5 April 2024, with the primary aim to provide flexibility for future distributions by the Company, should they be appropriate. The Capital Reduction itself does not involve any distribution or repayment of capital by the Company and does not change the total number of shares of the Company in issue.

For further information, please contact:

Yü Group PLC

Bobby Kalar

Paul Rawson

 

 

+44 (0) 115 975 8258

 

Panmure Liberum

Edward Mansfield

Satbir Kler

Anake Singh

 

 

+44 (0) 20 3100 2000

Teneo

Giles Kernick

Tom Davies

 +44 (0) 20 7353 4200

 

 

 

 

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.

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBDGDRGSGDGSX]]>
TwitterFacebookLinkedIn