GYG – proposed AIM de-listing, shares slump. Hopefully my explicit warning was heeded

Superyacht painting, supply and maintenance company GYG plc (GYG) has announced proposed cancellation of its shares on AIM and re-registration as a private limited company, arguing that a number of factors have impaired investor sentiment towards it and noting legal and regulatory burdens associated in maintaining the stock market listing. So what now, with the shares currently approaching 35% lower at 20.5p?

#GYG – proposed AIM cancellation, would then “consider implementing a matched bargain facility”

#GYG – 2022 “solid start”, “attention remains on improving profitability levels and margins”

#GYG – trading & “geopolitical exposure” update, order book “remains stable”

GYG – trading update, how confident of avoiding a cash crunch?

Previously writing on yacht painting, supply and maintenance company GYG plc (GYG), last year with the shares at 81p I concluded the valuation saw me still only monitoring for trading improvement and still avoiding. What then now following a trading update today – and the shares further lower towards 50p?...

#GYG – no longer in an offer period, believes it can generate sufficient cash

#GYG – possible offer due diligence enquiries ongoing, deadline extended to 5pm 23rd July

#GYG – administrators appointed at Nobiskrug Shipyard where it has 3 active contracts, results delayed

#GYG – notes possible offer from Harwood Capital, considering response

#GYG – some Q4 projects delayed but strong start to current year

GYG – half-year “expects to report increased Adjusted EBITDA”, but...

Yacht painting, supply and maintenance company GYG plc (GYG) has updated including that it “expects to report increased Adjusted EBITDA… The order book remains strong and the team are working on a number of potential leads that will further strengthen this through the second half while maintaining our keen focus on gross margin improvement” – and the shares have responded to 81p, 4.5% higher...

#GYG – H1 despite lower revenue, “expects to report increased Adjusted EBITDA of €1.6m (H1 2019: €1.5m)”

GYG – updates, “market leading proposition and proven resilience”?

Announcements of “Two Refit Contracts Signed with MB92 Group” and ‘results, report & AGM notice’ from yacht painting, supply and maintenance company GYG plc (GYG) today – and the shares currently around 80p in response, up more than 15%...

#GYG – expects 2019 “comfortably ahead of the board's previous expectations”, order book for 2020 +30%

#GYG – “improving market conditions” & “positive uplift in trading”

#GYG – notes recent months improved trading performance & order book, though still a 2018 loss

Neil Woodford rolls the dice at GYG. Meanwhile, Companies House still awaits…..

Is it the kiss of death? Last night it was announced that Neil Woodford had upped his stake in struggling AIM-listed yacht maintenance outfit GYG from 23.43% to 24.08%. Readers might recall that this tactic rather backfired with fully-listed Kier Group (KIE) and Purplebricks (PURP) and..the list goes on and on.

GYG – the Woodford reverse Midas touch strikes again: banks must be shitting themselves

Oh dear. When Neil Woodford spunked £8 million of other folks cash into the July 2017 100p a pop AIM casino IPO of yacht refitting company GYG (GYG) he thought this would be plain sailing. Oh no. Au contraire. The reverse Midas touch has struck Britain’s most arrogant fund mis-manager withy the second (lack of) profits warning in two months. Now I suggest the banks must be shitting themselves, the shares are 42.5p, sinking like the Titanic, as friendless as the Marie Celeste, and things are only going to get worse.

#GYG – trading environment “challenging”, now expects FY “significantly below current market expectations”

GYG – The Woodford kiss of death must have the banks worried here

I Thought I would follow up on both Steve’s piece and Tom’s Bearcast on yesterday’s debacle at GYG (GYG) as I was disappointed that both my colleagues failed to make the obvious Woodford connection but, more importantly, I wonder if the banks will be taking a close look at this as the 30 June banking covenants must be a tad challenging.