Jaywing (JWNG)

Sector:

Media

Index:

FTSE AIM All-Share

9.50p
   
  • Change Today:
    -0.75p
  • 52 Week High: 12.50p
  • 52 Week Low: 8.35p
  • Currency: UK Pounds
  • Shares Issued: 93.33m
  • Volume: 0
  • Market Cap: £8.87m

Jaywing to acquire Australian marketing firm, announces placing

By Iain Gilbert

Date: Tuesday 27 Feb 2018

LONDON (ShareCast) - (ShareCast News) - Digital marketing services provider Jaywing announced a conditional placing to raise up to £1.3m in order to fund its acquisition of Australian firm Frank Digital.
Jaywing said that as its operations in Sydney had continually expanded since the acquisition of search agency Digital Massive in 2016, it saw further increases in digital advertising spending in Australia over the next few years and that the purchase of Frank Digital, a digital marketing agency based in Sydney, marked a perfect opportunity for the group to capitalise on this.

After seeing success in cross-selling its products and services in the UK, Jaywing's improved offering was deemed ideally suited to reap similar opportunities in Australia.

Jaywing agreed to purchase 75% of Frank Digital's issued share capital for a total consideration of AUD$1.2m, payable in cash upon on completion, with a maximum $1.2m in payments, subject to meeting EBITDA targets, to come before June 2020.

Upon transaction close, Jaywing would be granted an option to buy the remaining 25% at a price of as much as AUD $2.35m.

Jaywing chief executive, Rob Shaw, said, "Our acquisition of Digital Massive in 2016 has performed well, with growth in Australia outstripping that of the UK. By creating a larger agency in Australia that is consistent with our international growth strategy, we will be able to take further advantage of a growing market and consolidate our position as an agency with a reputation for excellence. Matt and his team are a great cultural fit, with an existing relationship between them and our existing operation across a number of clients."

As of 1200 GMT, shares had dropped off 2.08% to 24.97p.

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Jaywing Market Data

Currency UK Pounds
Share Price 9.50p
Change Today -0.75p
% Change -7.32 %
52 Week High 12.50p
52 Week Low 8.35p
Volume 0
Shares Issued 93.33m
Market Cap £8.87m

Jaywing Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
27.43% above the market average27.43% above the market average27.43% above the market average27.43% above the market average27.43% above the market average
37.04% above the sector average37.04% above the sector average37.04% above the sector average37.04% above the sector average37.04% above the sector average
Income Not Available
Growth
57.7% below the market average57.7% below the market average57.7% below the market average57.7% below the market average57.7% below the market average
66.04% below the sector average66.04% below the sector average66.04% below the sector average66.04% below the sector average66.04% below the sector average

Jaywing Dividends

No dividends found

Trades for --2022

Time Volume / Share Price
0 @ 0.000p

Jaywing Key Personnel

CEO Andrew Robert Fryatt

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