Jaywing meeting to consider delisting the business

Sheffield and Leeds-based data science agency, Jaywing, will convene a shareholder meeting to consider a resolution to delist the company from the AIM market.

The business explains this is in response to a letter from major shareholder, Michael Ashcroft, the holder of 27,519,737 ordinary shares, representing 29.49% of the issued ordinary share capital in the company.

In a markets update published this afternoon, the firm states: “The letter requests the company to convene a general meeting of the company’s shareholders pursuant to section 303 of the Companies Act 2006 and consider a resolution to delist the company from the AIM market, to have effect on or prior to 1 March 2025.

“The board of directors intends to comply with its obligations in accordance with section 304 of the Act which requires it to call a general meeting within 21 days of receipt of a valid requisition and to hold such general meeting on a date not more than 28 days after the date of the notice convening such general meeting.

“Shareholders are advised to take no action at this time. Further announcements will be made in due course.”

Earlier this month, Jaywing reported its group revenue had dropped by 14.9% to £9.5m, which it largely attributed to a weak first half performance in UK Risk Consultancy.

In its interim results for the six months ended 30 September 2024 (H1), the business recorded a pre-tax loss of £2.4m (2023: £1.4m pre-tax loss).

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