REG - Jaywing PLC - Increase in Loan Facility

JaywingAnnouncement

28/05/2024 17:45

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RNS Number : 1614Q  Jaywing PLC  28 May 2024

Certain information contained within this Announcement is deemed by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("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

 28 May 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 earlier this month 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,
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 £1,030,000, which includes an arrangement fee of £30,000
payable to the Lenders, taking the total facility to £10,796,500. The new
funds, which will be used for working capital purposes, are available in two
equal tranches, the first of which has been drawn and the second is due to be
drawn, subject to the Lenders' consent, in June 2024.

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 (Company Secretary)

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

 

Notice related to the financial adviser

SPARK Advisory Partners Limited, which is regulated by the Financial Conduct
Authority in the United Kingdom, is acting exclusively for Jaywing and no one
else in connection with the matters referred to in this announcement and will
not be responsible to anyone other than Jaywing for providing the protections
afforded to clients of SPARK Advisory Partners Limited, or for providing
advice in relation to the matters referred to in this announcement.

 

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