Last checked at 26 May 2016 12:23
26 May 2016
Yü Group PLC(the "Company")
Result of GM
The Company is pleased to announce that at its general meeting ("GM") held today, resolutions were passed approving the Capital Reduction, conditional upon approval by the Companies Court of the Chancery Division in the High Court of Justice (the "Court").
As set out in the Circular, the Court date has been set for 22 June 2016. In the event that approval by the Court is granted, registration of the Court order with the Registrar of Companies will follow, with the Capital Reduction expected to become effective on 23 June 2016. As a result, the Company will have positive distributable reserves which will facilitate the Company's ability to make future payments of dividends as appropriate.
Terms used in this announcement shall have the meanings given to them in the Company's circular dated 29 April 2016 unless otherwise specified.
For further information, please contact:
Yü Group PLC Bobby Kalar Nick Parker
| +44 (0) 115 975 8258
|
Shore Capital Bidhi Bhoma Edward Mansfield Anita Ghanekar | +44 (0) 20 7408 4090 |
|
|
Alma PR Josh Royston Hilary Buchanan John Coles |
+44 (0) 7780 901 979 +44 (0) 7515 805 218 +44 (0) 7836 273 660 |
Notes to Editors
Information on the Group
Yü Energy is an independent supplier of gas and electricity focused on servicing larger corporate and SME businesses throughout the UK. It has no involvement in the domestic retail market. The Group was founded by Bobby Kalar and is listed on the AIM market of the London Stock Exchange following a successful IPO in March 2016.