Recommended Cash Offer for GYG Ltd

Further to announcements on 23 September 2024, we are pleased to advise that an agreement has been reached between GYG Limited (the “Company” or “GYG”), and Marina Barcelona 92, S.A. (the “Offeror” or “MB92”) and MB92 is today making an offer to GYG Shareholders to acquire the entire issued share capital of the Company.

The Offer Document, setting out the further terms of the offer and the conditions to which it is subject, together with the Form of Acceptance will be posted to GYG shareholders, at their registered address, today.

MB92 has received irrevocable undertakings to accept the Offer, from GYG shareholders representing 91.58% of the GYG Shares in issue on the Latest Practicable Date.

The GYG Board believes that the Offer is in the best interests of Shareholders as a whole and is, therefore, unanimously recommending that GYG Shareholders accept the Offer.

Remy Millott, CEO of GYG Ltd, said

“We believe there is a strong strategic rationale for this transaction. This acquisition by MB92 Group, which has facilities in Barcelona, La Ciotat, the Red Sea and Golfe-Juan supports both companies’ strategic vision to enhance market responsiveness and elevate client services. In a sector that demands the highest quality standards, GYG will continue to operate its businesses across Europe and the U.S., and the combination will allow GYG to meaningfully strengthen its growth potential and ability to deliver exceptional quality and value to clients.”