Jaywing has delayed the publication of its annual results, following a “very weak” first quarter of trading.
The company said that while trading had improved since the end of June, conditions remained “challenging.”
In a statement this morning, it said that directors had been in negotiations with its bank and its 2 major shareholders, “with a view to strengthening the company’s balance sheet.”
The two main shareholders are Lord Ashcroft, who owns 25.63% and Lombard Odier Investment Managers Group, which holds 23.59%.
It added that the negotiations remained “ongoing and constructive.”
Jaywing expected that the Preliminary Results would now be published at the end of September.
In July, it warned that trading in Q1 was hit by the “heightened political and economic uncertainty” with many clients focused “on the short term.”
This morning, its share price fell by 21%.
