TIDMDSW
RNS Number : 8031V
DSW Capital PLC
17 December 2021
17 December 2021
DSW CAPITAL PLC
("DSW Capital" or "DSW" or the "Company")
Director / PDMR Shareholding
As disclosed in the Admission Document, the Company announces
that, following Admission, on 16 December, James Dow, Chief
Executive Officer, and Nicole Burstow, Chief Financial Officer,
were granted IPO PSP Awards of 53,333 and 41,667 Ordinary Shares,
respectively.
The Company has applied for the new Ordinary Shares to be
admitted to trading on the AIM Market and admission is expected to
take place on 21 December 2021. The 95,000 new Ordinary Shares will
rank pari passu with the existing Ordinary Shares.
Following the admission of the Ordinary Shares, James Dow and
Nicole Burstow will hold 3,145,793 and 235,365 Ordinary Shares,
representing 14.64% and 1.10% of the issued share capital of the
Company, respectively.(1)
Total Voting Rights
For the purpose of the Disclosure and Transparency Rules,
following the admission of the 95,000 new Ordinary Shares
(excluding any treasury shares) the new total number of shares in
issue will be 21,482,508. Accordingly, this figure may be used by
shareholders as a denominator for the calculations by which they
will determine if they are required to notify their interest in, or
change to their interest in, the Company, under the Disclosure and
Transparency Rules.
All defined terms used in this announcement have the meanings
set out in the Company's Admission Document dated 13 December 2021,
which is available on the Company's website:
https://dswcapital.com/ .
Redeemable Preference Shares
As disclosed in the Admission Document, the Directors intended
to redeem all of the 50,000 Redeemable Preference Shares shortly
following admission resulting in the payment of GBP12,500 to James
Dow (being the aggregate amount paid up on such Redeemable
Preference Shares). The Company announces that the Redeemable
Preference Shares have been redeemed today, 17 December.
(1) James Dow and Nicole Burstow beneficially hold IPO PSP Awards
of 53,333 and 41,667 Ordinary Shares respectively that are
also beneficially held jointly by the Trustee. Such IPO
PSP Awards are subject to the performance and vesting conditions
as set out in the Company's Admission Document dated 13
December 2021.
For further information please contact:
DSW Capital
James Dow, Chief Executive Officer Tel: +44 (0) 1928
Nicole Burstow, Chief Financial Officer 378 029
Tel: +44 (0) 1928
378 039
Shore Capital (Nominated Adviser & Broker) Tel: +44 (0)20 7408
Hugh Morgan / James Thomas / John More 4090
Guy Wiehahn (Corporate Broking)
Belvedere Communications
Cat Valentine Tel: +44 (0) 7715
Keeley Clarke 769 078
Tel: +44 (0) 7967
816 525
dsw@belvederepr.com
About DSW Capital - https://dswcapital.com
DSW Capital, owner of the Dow Schofield Watts brand, is a
profitable, fast growing, mid-market, challenger professional
services network with a cash generative business model and scalable
platform for growth. Originally established in 2002, by three KPMG
alumni, DSW is one of the first platform models disrupting the
traditional model of accounting professional services firms. DSW
currently operates licensing arrangements with 19 licensee
businesses with 82 fee earners ("FEs"), across six offices in
England and one in Scotland. These trade primarily under the Dow
Schofield Watts brand.
DSW's vision is for the DSW Network to become the most
sought-after destination for ambitious, entrepreneurial
professionals to start and develop their own businesses. Through a
licensing model, DSW gives professionals the autonomy and
flexibility to fulfil their potential. Being part of the DSW
Network brings support benefits in recruitment, funding and
infrastructure. DSW's challenger model attracts experienced, senior
professionals, predominantly with a "Big 4" accounting firm
background, who want to launch their own businesses and recognise
the value of the Dow Schofield Watts brand and the synergies which
come from being part of the DSW Network.
DSW aims to scale its agile model through organic growth,
geographical expansion, additional service lines and investing in
"Break Outs" (existing teams in larger firms). The Directors are
targeting high margin, complementary, niche service lines with a
strong synergistic fit with the existing DSW Network.
(1) As at 31 October 2021.
The information below (set out in accordance with the
requirements of EU Market Abuse Regulation) provides further
detail:
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names James Dow
--------------------------------- ----------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Director, Chief Executive Officer
--------------------------------- ----------------------------------
b) Initial notification /Amendment Initial Notification
--------------------------------- ----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name DSW Capital plc
--------------------------------- ----------------------------------
b) LEI 213800KKIQCIJTGH23
--------------------------------- ----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the financial Ordinary Shares of 0.25p each
instrument, type of instrument
--------------------------------- ----------------------------------
b) Identification code GB00BNG9H550
--------------------------------- ----------------------------------
c) Nature of the transaction Grant of IPO PSP Awards
--------------------------------- ----------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
100 53,333
--------------------------------- ----------------------------------
d) Aggregated information
- Aggregated volume 53,333
- Price 53,333
--------------------------------------- ----------------------------------
e) Date of the transaction 16 December 2021
--------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange (XLON)
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names Nicole Burstow
--------------------------------- ----------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Director, Chief Financial Officer
--------------------------------- ----------------------------------
b) Initial notification /Amendment Initial Notification
--------------------------------- ----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name DSW Capital plc
--------------------------------- ----------------------------------
b) LEI 213800KKIQCIJTGH23
--------------------------------- ----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the financial Ordinary Shares of 0.25p each
instrument, type of instrument
--------------------------------- ----------------------------------
b) Identification code GB00BNG9H550
--------------------------------- ----------------------------------
c) Nature of the transaction Grant of IPO PSP Awards
--------------------------------- ----------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
100 41,667
--------------------------------- ----------------------------------
d) Aggregated information
- Aggregated volume 41,667
- Price 41,667
--------------------------------------- ----------------------------------
e) Date of the transaction 16 December 2021
--------------------------------- ----------------------------------
f) Place of the transaction London Stock Exchange (XLON)
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END
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