Jaywing Plc, based in Sheffield, is contemplating a prospective sale. The company, which specializes in marketing and data science, has made this decision to appease its lenders, DSC Investment Holdings, and Lombard Odier, as it endeavors to recover profitability. While Jaywing’s loan facility has increased by over £500k, taking it to almost £10 million, net debt is still just below £12m.
Jaywing stated, “The lenders remain extremely supportive of the business, its improving operating performance, and strong prospect list, but have requested that as the company’s expected recovery materializes throughout 2024, it should seek to refinance the loan facility, which was originally provided on a short-term interim basis in August 2019, with a more appropriate longer-term capital base.” The company aims to explore all strategic options to continue building its platform, including a possible sale of the company, to recover its profitability, ensure client service delivery, and repay the loan facility’s ongoing support.
Jaywing has reiterated that it is not in receipt of any approach or discussions with any potential suitors; the company appointed Dr. Catherine Kelly as MD at the start of the year. Despite undertaking cost-cutting measures, strong trading in Australia and its risk consulting business, according to Jaywing, has continued to counteract the “much-publicized weakness in the UK agency market.” The company reports having built a strong pipeline of opportunities and recently won significant new contracts with Subaru Europe, Crocs (Asia Pacific), and Homes England.
Lombard Odier, according to the revised loan agreement, has requested that Henry Turcan and Rob Giles be appointed to the company’s board, and DSC has asked for David Beck to be appointed as a director. In contrast, Philip Hanson will resign as a director with immediate effect but will continue to support the company in an advisory capacity. Now frozen due to an ‘offer period,’ Jaywing’s share price stands at £3.46, giving it a market cap of £3.23m.
In conclusion, Jaywing Plc’s decision to explore a possible sale was made to align with its lenders’ wishes, reflecting their desire to see the business recapitalized. The company aspires to recover its profitability and ensure client service delivery. Despite the ongoing weakness in the UK agency market, Jaywing’s strong trading in Australia and its risk consulting business have allowed it to continue building its platform by winning significant new contracts.
Jaywing Plc, based in Sheffield, is contemplating a prospective sale. The company, which specializes in marketing and data science, has made this decision to appease its lenders, DSC Investment Holdings, and Lombard Odier, as it endeavors to recover profitability. While Jaywing’s loan facility has increased by over £500k, taking it to almost £10 million, net debt is still just below £12m.
Jaywing stated, “The lenders remain extremely supportive of the business, its improving operating performance, and strong prospect list, but have requested that as the company’s expected recovery materializes throughout 2024, it should seek to refinance the loan facility, which was originally provided on a short-term interim basis in August 2019, with a more appropriate longer-term capital base.” The company aims to explore all strategic options to continue building its platform, including a possible sale of the company, to recover its profitability, ensure client service delivery, and repay the loan facility’s ongoing support.
Jaywing has reiterated that it is not in receipt of any approach or discussions with any potential suitors; the company appointed Dr. Catherine Kelly as MD at the start of the year. Despite undertaking cost-cutting measures, strong trading in Australia and its risk consulting business, according to Jaywing, has continued to counteract the “much-publicized weakness in the UK agency market.” The company reports having built a strong pipeline of opportunities and recently won significant new contracts with Subaru Europe, Crocs (Asia Pacific), and Homes England.
Lombard Odier, according to the revised loan agreement, has requested that Henry Turcan and Rob Giles be appointed to the company’s board, and DSC has asked for David Beck to be appointed as a director. In contrast, Philip Hanson will resign as a director with immediate effect but will continue to support the company in an advisory capacity. Now frozen due to an ‘offer period,’ Jaywing’s share price stands at £3.46, giving it a market cap of £3.23m.
In conclusion, Jaywing Plc’s decision to explore a possible sale was made to align with its lenders’ wishes, reflecting their desire to see the business recapitalized. The company aspires to recover its profitability and ensure client service delivery. Despite the ongoing weakness in the UK agency market, Jaywing’s strong trading in Australia and its risk consulting business have allowed it to continue building its platform by winning significant new contracts.
