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Pin to quick picksJaywing Share News (JWNG)

Share Price Information for Jaywing (JWNG)

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Share Price: 3.15
Bid: 3.10
Ask: 3.20
Change: 0.00 (0.00%)
Spread: 0.10 (3.226%)
Open: 3.15
High: 3.15
Low: 3.15
Prev. Close: 3.15
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Jaywing to buy Bloom Media for £2.41m after AIM share placing

Thu, 01st Sep 2016 09:44

(ShareCast News) - Data science marketing agency Jaywing is to buy Bloom Media for £2.41m after a share placing on AIM, the London Stock Exchange's junior market.The acquisition of the Leeds-based digital marketing agency, which is expected to be earnings enhancing, is payable on a cash and debt free basis, and will be financed from funds raised through a placing with new and existing investors and from a new bank debt of £1m. An additional £5.75m is payable subject to performance criteria over the next two years.The placing is expected to raise £3m before expenses through the issue of 10m new ordinary shares of 5p each at 30p per share. Following admission to AIM, the company will have about 86.2m ordinary shares and an additional 99,662 ordinary shares held in treasury.From the funds raised through the share placing, £2.3m will be used to pay upfront for the acquisition, £700,000 for an investment in its subsidiary Newco for product development, £500,000 on legal, accountancy and transactions costs and £500,000 on the removal of the extended temporary bank overdraft for a recent acquisition.The Bloom Media acquisition is expected to accelerate the company's international growth strategy and provide it with innovative digital products, including a social media and behavioural analytics tool, and personnel expertise. Current Bloom Media chief executive Alex Craven will remain with the company and lead product development.The company bought Australian marketing agency Digital Massive in July to broaden its product set.Jaywing chief executive Martin Boddy, said: "This acquisition is a fundamental building block in our strategy to distribute data science-led products internationally. It gives us additional products and an experienced individual to lead that part of our business. Alex and his team are a great cultural fit and I'm absolutely delighted to have them as part of the team."Craven added: "Jaywing's impressive data science credentials and its product strategy are very exciting to me personally. In addition, the breadth and scale of Jaywing's client base as well as its recent acquisition in Australia provide an ideal platform for the Bloom Intelligence suite."Jaywing said it is currently trading in line with market expectations after an encouraging start to the year.For the year ended 29 February, Bloom Media generated gross profit of £1.9m and profit before tax of £279,000. Its gross assets at February was about £760,000.Shares in Jaywing were down 1.67% to 29.50p at 1351 BST.
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Jaywing Appoints Group Finance Director

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18 Mar 2014 13:09

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UK WINNERS & LOSERS: Cairn Energy Falls 12% As It Swings To Loss

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.

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FTSE 100 - WINNERS

J Sainsbury, up 0.8%. The food retailer is the latest of the big UK supe

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18 Mar 2014 11:17

Jaywing Acquires Agency Epiphany Solutions

LONDON (Alliance News) - Marketing and consulting business Jaywing PLC said Tuesday that it has acquired Leeds and London-based search marketing agency Epiphany Solutions Ltd. Jawying said its bought Epiphany for an initial cash payment of GBP11 million, plus a further deferred cash payment

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18 Mar 2014 09:36

Jaywing buys Epiphany Solutions

Marketing and consulting business Jaywing has bought Epiphany Solutions for an initial cash consideration of 11m pounds. Jaywing is buying 100% of the UK marketing agency's share capital, which includes a further deferred payment of £1m and an earn out consideration of up to £6m to be paid in two i

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22 Nov 2013 10:12

Jaywing's first half profits rise on restructuring

Jaywing's first half gross profit rose 10.8 per cent to 16.3m pounds as the marketing business undergoes a major restructuring. Earnings before interest, tax, depreciation and amortisation (EBITDA), before other income, came to £1.66m in the year to end of September, up from the prior year's £1.3

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22 Nov 2013 09:51

Jaywing Hit By E-Commerce Sale Loss, But Agency Business Recovers

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22 Nov 2013 07:40

AIM IN BRIEF: IMIC Share Placing Raises GBP13.0 Million

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Jaywing sells e-commerce arm Tryzens

Jaywing's shares rose after completing the sale of its e-commerce arm Tryzens for 6m pounds. The UK digital communications company said the disposal will strengthen its balance sheet and allow for investments in areas of "greater strategic interest". The outstanding inter-company debt Tryzens owes

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7 Oct 2013 10:15

Jaywing Completes Sale Of E-Commerce Arm Tryzens For GBP6 Million

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Monday newspaper round-up: Royal Mail, RBS, Jaywings

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3 Oct 2013 13:05

Jaywing in talks to offload e-commerce arm through MBO

Marketing and consulting business Jaywing said it was in advanced talks to sell its e-commerce arm Tryzens through a management buyout. Tryzens is a digital solutions provider whose clients include a raft of retailers as well as some banks and other financial services businesses. The statement wa

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3 Oct 2013 09:03

Jaywing Rallies Again As It Confirms Talks To Sell Online Commerce Unit

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