23 August 2022
DSW CAPITAL PLC
("DSW Capital", "DSW" or the "Company")
(AIM:DSW)
Director / PDMR Shareholding
DSW announces that on 23 August 2022, James Dow, Chief Executive Officer, and Nicole Burstow, Chief Financial Officer, were granted PSP Awards of 221,629 and 195,556 Ordinary Shares, respectively ("PSP Shares"). Pursuant to the terms of Company's PSP, as set out in the Company's Admission document dated 13 December 2021, the PSP Shares being issued to James Dow and Nicole Burstow will be held by the DSW EBT.
In addition to the above the Company, will be issuing 26,667 new Ordinary Shares, equivalent to £30,000, to James Dow in respect of his FY22 performance bonus as disclosed in the Company's Annual Report.
The Company has applied for the new Ordinary Shares to be admitted to trading on AIM and admission is expected to take place on 26 August 2022. The 443,852 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 3,134,127 and 193,698 Ordinary Shares, representing 14.29% and 0.88% of the issued share capital of the Company, respectively1.
Total Voting Rights
For the purpose of the Disclosure and Transparency Rules, following the admission of the 443,852 new Ordinary Shares (excluding any treasury shares) the new total number of shares in issue will be 21,926,360. 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/
1James Dow also beneficially holds PSP Awards of 274,962 Ordinary Shares that are also beneficially held jointly by the Trustee. Nicole Burstow also beneficially holds PSP Awards of 237,223 Ordinary Shares, and 328,000 Ordinary Shares in respect of the CFO Legacy Award, both of which are also beneficially held jointly by the Trustee. Such PSP Awards and CFO Legacy Awards are subject to the performance and vesting conditions as set out in the Company's Admission Document dated 13 December 2021.
Enquiries:
| DSW Capital James Dow, Chief Executive Officer Nicole Burstow, Chief Financial Officer
|
Tel: +44 (0) 1928 378 029 Tel: +44 (0) 1928 378 039 |
| Shore Capital (Nominated Adviser & Broker) James Thomas / John More / Mark Percy Guy Wiehahn (Corporate Broking)
| Tel: +44 (0)20 7408 4090 |
| Belvedere Communications Cat Valentine Keeley Clarke |
Tel: +44 (0) 7715 769 078 Tel: +44 (0) 7967 816 525 dsw@belvederepr.com |
Notes to Editors
About DSW Capital
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 now operates licensing arrangements with 20 licensee businesses with 88 fee earners ("FEs"), across eight offices in England and three 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.
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
| 1
| Details of the person discharging managerial responsibilities / 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 instrument, type of instrument
| Ordinary Shares of 0.25p each | ||||||
| b) | Identification code
| GB00BNG9H550 | ||||||
| c)
| Nature of the transaction
| Grant of PSP Awards | ||||||
| d)
| Price(s) and volume(s) |
| ||||||
| d)
| Aggregated information - Aggregated volume - Price |
n/a n/a | ||||||
| e)
| Date of the transaction | 22 August 2022 | ||||||
| f)
| Place of the transaction | London Stock Exchange (XLON)
| ||||||
| | | | ||||||
| 1
| Details of the person discharging managerial responsibilities / 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 instrument, type of instrument
| Ordinary Shares of 0.25p each | ||||||
| b) | Identification code
| GB00BNG9H550 | ||||||
| c)
| Nature of the transaction
| Grant of PSP Awards | ||||||
| d)
| Price(s) and volume(s) |
| ||||||
| d)
| Aggregated information - Aggregated volume - Price |
n/a n/a | ||||||
| e)
| Date of the transaction | 22 August 2022 | ||||||
| f)
| Place of the transaction | London Stock Exchange (XLON)
| ||||||
| | | | ||||||
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