Completion of Disposal

RNS Number : 6782M

Jaywing PLC

10 January 2019

 

Date:               10 January 2019

On behalf of:   Jaywing plc ("Jaywing", "the Company" or "the Group")

Jaywing plc

Completion of Disposal 

Further to the announcement made on 20^th November 2018, Jaywing plc (AIM: JWNG), the data science led agency, consultancy and technology business has confirmed that the sale of its contact centre business, HSM Ltd ("HSM") to Bidco ("Bidco"), which is backed by Aquiline Capital Partners LLC ("Aquiline"), a New York and London-based private equity firm investing in financial services and technology, has now completed.

The disposal of this non-core asset strengthens the balance sheet; simplifies the Jaywing offering; provides a sizeable and ongoing revenue stream; reduces a lease obligation and allows management to concentrate entirely on developing the core business.

Enquiries:

Jaywing plc
Michael Sprot (Company Secretary)	Tel: [phone]
Cenkos Securities plc
Nicholas Wells / Callum Davidson	Tel: [phone]

 

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