Jaywing plc (AIM:JWNG) announced that in order to not place undue strain on the Company?s working capital in the short term the Company announces that it has increased its existing loan facility (?the Loan Facility?) with the Company?s two lenders, DSC Investment Holdings Limited and Lombard Odier Asset Management (Europe) Limited (jointly, ?the Lenders?) by £566,500, taking the total facility to £9,766,500. 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 materialises 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 has invested significantly in broadening its geographic and technical capabilities to best serve the increasingly globalised demands of its customer base for cost effective solutions underpinned by technical insight and measurable return on marketing spend.

In order to continue to build on this platform and reflecting the Lenders desire to see the business recapitalised, the Company will explore all strategic options, including a possible sale of the Company as it continues to recover its profitability to ensure that its client service can be delivered and that the ongoing support of the Loan Facility can be repaid. As the Company is subject to the City Code and one of the possible outcomes of the strategic review is a sale of the Company, it is considered to be in an "offer period" as defined in the City Code, and the dealing disclosure requirements as set out further below will apply. The Company confirms that is not in receipt of any approach, nor in discussions with any potential offeror, at the date of this announcement.