Certain information contained within this
Announcement is deemed by the Company to constitute inside
information as stipulated under the UK Market Abuse Regulation
("MAR") as applied in the United Kingdom. Upon publication of this
Announcement, this information is now considered to be in the
public domain.
.
Jaywing plc
("Jaywing" or "the
Company")
Increase in Loan
Facility
7 October
2024
Jaywing Plc (AIM: JWNG), the marketing and data
science business specialising in integrated marketing and risk and
data consulting announces an increase in its Loan
Facility.
As announced on 30 September 2024 the company
recently entered discussions with its two lenders, DSC Investment Holdings Limited and Lombard Odier Asset
Management (Europe) Limited*, both of which are represented
on the Board of Jaywing, regarding increasing the existing facility
it has in place with them.
The Company announces that it has increased its
existing loan facility ("the Loan Facility") with the Company's two
lenders, DSC Investment Holdings Limited and Lombard Odier Asset
Management (Europe) Limited* (jointly, "the Lenders") by
£1,133,000, which includes an arrangement fee of £33,000 payable to
the Lenders, taking the total facility to £11,929,500.
The Company will draw the funds immediately and use
them for working capital purposes.
Related party
transaction
The additional capital being lent by the Lenders
is being provided on the same terms as the existing Loan
Facility. As each of the Lenders, being DSC Investment
Holdings Limited ("DSC" and Lombard Odier Asset Management (Europe)
Limited ("Lombard Odier"), are considered related parties because
of their respective shareholdings in the Company, the provision of
this capital by entities associated with each of them is deemed to
comprise related party transactions for the purposes of Rule 13 of
the AIM Rules for Companies. The Independent Director (being
Christopher Hughes) considers, having consulted with the Company's
nominated adviser, SPARK Advisory Partners Limited, that the terms
of the transaction are fair and reasonable insofar as the Company's
shareholders are concerned.
*acting in its capacity as discretionary
investment manager or sub-adviser for and on behalf of certain
funds and accounts managed by it and/or as agent of Lombard Odier
Asset Management (USA) Corp (LOAM USA) acting in its capacity as
discretionary investment manager for and on behalf of certain funds
and accounts managed by it ("Lombard Odier").
-Ends-
For any further enquiries, please
contact:
For further information on the Company, please
visit www.jaywing.com or contact:
Jaywing
plc
David Beck - Executive Chairman
Christopher Hughes (CFO and COO)
T: +44 (0)333 370 6500
SPARK Advisory
Partners Limited (Nominated and Financial
Adviser)
Matt Davis / James Keeshan
T: +44 (0) 20 3368 3552
Turner
Pope (Broker)
James Pope / Andy Thacker
T: +44 (0) 20 3657 0050
