Board Appointments

Jaywing PLC

03 April 2024

 

03 April 2024

Jaywing Plc

("Jaywing" or "the Company")

Board Appointments

Further to the announcement made on 4 March 2024, Jaywing is pleased to announce the appointment of Henry Turcan and David Beck to the Company's board of directors ("Board") as Non-Executive Directors, with immediate effect.

Henry is a fund manager at Lombard Odier Asset Management (Europe) Limited. He has been advising and investing in UK smaller companies for over 20 years and has extensive experience of assisting public companies in creating value for all stakeholders. Henry is being appointed as a representative of Lombard Odier Asset Management (Europe) Limited¹, acting in its capacity as discretionary investment manager or sub-adviser for and on behalf of certain funds and accounts managed by it which in aggregate hold  18.86% of the Company's issued share capital and 50% of the Company's outstanding Loan Facility.

David was Chief Executive of Merit Group Plc, the data and intelligence business, until 31 January 2024, where he led a successful restructuring and turnaround of the business. Previously David spent over thirty years working in the marketing communications industry advising large corporates on strategic reviews and transactions. David is being appointed as a representative of DSC Investment Holdings Limited ("DSC"), a Company owned and controlled by Lord Ashcroft, which holds  50% of the Company's outstanding Loan Facility. Under the terms of the Loan Facility each of DSC and Lombard Odier Asset Management (Europe) Limited¹ is entitled to appoint up to two representatives to the board of the Company. Lord Ashcroft  also holds   29.91% of the Company's issued share capital

Ian Robinson, Chairman of Jaywing, commented:

"I am delighted to welcome Henry Turcan and David Beck as members of the Board and look forward to working with them. Their respective backgrounds and experience will strengthen the Board in its provision of strategic direction and oversight for the Company as its businesses and prospects continue to develop".

Disclosures pursuant to Schedule Two(g) of the AIM Rules:

Henry Arthur John Turcan, aged 50

The names of all companies and partnerships of which Henry Turcan, is, or has been a director or partner at any time in the previous five years are set out below:

Current directorships or partnerships	Previous directorships or partnerships (in the last five years)
Science in Sport Plc	Eland Oil & Gas Limited
HAJT Limited	Woodbois Limited
	Arena Events Group Limited
	Nanoco Group Plc
	Minds + Machines Group Limited
	Internet Fusion Group Limited

Henry Turcan was a former director of Internet Fusion Group Limited, which appointed administrators on 15 May 2023, within 12 months of Mr Turcan ceasing to be a director. The most recently available filings indicate that the administration proceedings remain ongoing.

Mr Turcan does not personally hold any shares in the Company. However, he is a representative of the funds managed or sub-advised by Lombard Odier Asset Management group entities, the Company's second largest shareholder, which currently holds 18.86% of Jaywing's shares in issue.

David Clive Beck, aged 61

The names of all companies and partnerships of which David Beck, is, or has been a director or partner at any time in the previous five years are set out below:

Current directorships or partnerships	Previous directorships or partnerships (in the last five years)
Tribal Sports Nutrition Limited	Merit Group Plc
Bell Pottinger Private Limited	Vacher Dod Publishing Limited VDP Limited
	Dods Group Limited
	Merit Data & Technology Limited
	Monitoring Services Limited
	Fenman Limited
	Holyrood Communications Limited
	Total Politics Limited
	Training Journal Limited
	Political Engagement Limited

Companies that went into liquidation or administration whilst David Beck was a director:

Bell Pottinger Private Limited appointed administrators on 25 September 2017 and entered liquidation on 26 September 2019. The most recently available filings indicate that the liquidation remains ongoing.

Bell Pottinger (Services) Limited appointed administrators on 25 September 2017 and was dissolved following liquidation on 7 January 2020.

Bell Pottinger LLP appointed administrators on 26 September 2017 and entered liquidation on 27 September 2019.

Bell Pottinger Bahrain was liquidated on 31 January 2018.

Mr Beck does not hold any shares in the Company. However, he is a representative of DSC Investment Holdings Limited, a Company owned and controlled by Lord Ashcroft, the Company's largest shareholder, who currently holds 29.91% of Jaywing shares in issue.

There are no further disclosures required under the AIM Rules for Companies.

For further information on the Company, please visit www.jaywing.com or contact:

Note 1:  Lombard Odier Asset Management (Europe) Limited, acting in its capacity as discretionary investment manager or sub-adviser for and on behalf of certain funds and accounts managed by  it and / or agent of Lombard Odier Asset Management (USA) Corp ("LOAM USA") acting in its capacity as discretionary investment manager for and on behalf of certain funds and accounts managed by it.

Jaywing plc

Christopher Hughes (Company Secretary)

T: [phone]

SPARK Advisory Partners Limited (Nominated Adviser)

Matt Davis / James Keeshan

T: [phone]

Turner Pope (Broker)

James Pope / Andy Thacker

T: [phone]

 

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