REG - Jaywing PLC - Increase in Loan Facility

JaywingAnnouncement

07/10/2024 07:00

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RNS Number : 0859H  Jaywing PLC  07 October 2024

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

 

 

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