Share Name Share Symbol Market Type Share ISIN Share Description
Jaywing Plc LSE:JWNG London Ordinary Share GB00BF5KDY46 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 5.55 5.50 5.60 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 29.7 -9.4 -10.0 - 5

Jaywing PLC Appointment of CFO & Trading Update

26/08/2020 7:00am

UK Regulatory (RNS & others)

Jaywing (LSE:JWNG)
Historical Stock Chart

From Jul 2020 to Jan 2021

Click Here for more Jaywing Charts.


RNS Number : 1458X

Jaywing PLC

26 August 2020

26 August 2020

Jaywing plc ("Jaywing")

("Jaywing", "the Company" or "the Group")

Appointment of Chief Financial Officer, Notice of Results, Trading Update and Closure of Performance Share Plan

Appointment of CFO

The Board of Jaywing plc (AIM: JWNG), the UK agency specialising in data science, is pleased to announce that it has appointed Caroline Ackroyd as Chief Financial Officer with effect from 7(th) September 2020. Caroline will report directly to Andrew Fryatt, Chief Executive Officer, and is expected to join the Board in due course.

Caroline is an experienced CFO with significant commercial experience in technology-based businesses operating in competitive and client-centric markets. She is currently CFO of Push Doctor, a provider of online GP services, and previously held senior finance roles in Sky Betting & Gaming and Coral Interactive.

Full year results announcement

The Company announces that it has received approval from AIM under its COVID-19 temporary measures for a three-month extension to the publication of the Company's full year results for the year ended 31(st) March 2020. These will now be published before the end of November 2020. The Annual General Meeting of the Company will take place on 29(th) September 2020, followed by a General Meeting in December 2020 to approve the financial statements. A notice of the Annual General Meeting will be posted to shareholders in due course.

Performance Share Plan

The Company also announces the termination of the Jaywing Plc Performance Share Plan, with effect from 9(th) October 2020, in accordance with the rules of the plan. Following this closure, there will then be no outstanding share options under the Performance Share Plan, although the Company continues to operate an employee Save As You Earn scheme, which terminates in 2021.

Business update

Following the trading and banking challenges during the previous financial year, the Company began the process last year of restructuring and realigning the business more closely to its clients and its service offerings. This restructuring and realignment of the business has continued following the appointment of Andrew Fryatt as CEO in March 2020.

The Company expects to report net revenue for the year ended 31(st) March 2020 of approximately GBP24.0m (2019: GBP29.8m). At 31(st) March 2020, net debt was GBP5.7m (2019: GBP5.0m).

Since March 2020, the economic impact of COVID-19 has resulted in revenue levels below those of the prior year, but the Company has taken actions to protect both cash and profitability through this period, including voluntary salary reductions, cost reductions, rent deferrals and deferral of certain HMRC payments. The Company has also continued to win new business and the April to June quarter has been profitable at EBITDA* level (unadjusted). As at 31(st) July 2020, the Company's net debt had reduced to GBP3.9 million, excluding GBP1.7m of deferred liabilities for VAT, PAYE and rent. Whilst there remains considerable uncertainty in markets generally, the Company believes that it is well positioned to benefit as economic activity recovers.

Andrew Fryatt, CEO, commented:

"We have been able to provide continuous service to our clients since March, and I am pleased that we have to date mitigated the impact of this pandemic on the business. I am grateful to our employees for adapting so rapidly to remote working.

"I am also delighted that we have been able to recruit someone of the calibre of Caroline into the CFO role and look forward to working with her to fulfil the potential of Jaywing."

This announcement is released by Jaywing and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), and is disclosed in accordance with the Group's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Group by Andrew Fryatt, Chief Executive Officer.

*operating profit after adding back depreciation, amortisation, share based payment charges and other non-cash charges.


   Jaywing plc (   ) 

Andrew Fryatt (CEO)

Tel: 0114 281 1200

Cenkos Securities plc

Nicholas Wells/Callum Davidson (Nominated Adviser)

Tel: 0207 397 8900


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

August 26, 2020 02:00 ET (06:00 GMT)

1 Year Jaywing Chart

1 Year Jaywing Chart

1 Month Jaywing Chart

1 Month Jaywing Chart
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210119 07:13:27