DSW Capital PLC Trademark Licence Agreement Update (6393Z)
17 5월 2023 - 3:00PM
UK Regulatory
TIDMDSW
RNS Number : 6393Z
DSW Capital PLC
17 May 2023
17 May 2023
DSW CAPITAL PLC
("DSW Capital", "DSW" or the "Company")
(AIM:DSW)
Trademark Licence Agreement Update
DSW Capital, a profitable mid-market, challenger professional
services licence network and owner of Dow Schofield Watts brand,
has entered into an updated Trademark Licence Agreement (the
"Agreement") with one of its licensees', PHD Industrial Holdings
Limited ("PHD IH"). Under the Agreement, which replaces an existing
trademark licence agreement, PHD IH, will continue to pay a fixed
licence fee of GBP144k p.a. payable quarterly in arrears. There is
also a service contract in place whereby central costs are
recharged on a per head basis (c.GBP48k p.a.), known as a "desk
charge", that will continue to be paid.
The Agreement shall be for a fixed period expiring on 31
December 2024. Furthermore, PHD IH will have the right to acquire
the trademark "PHD Industrial Holdings" from the Group for a
payment of GBP1 after the expiration of the Agreement.
James Dow, CEO of the DSW Capital is a director of PHD IH and
together with other directors of PHD IH owns a combined
shareholding of greater than 30% of PHD IH. PHD IH is, therefore, a
related party as defined in the AIM Rules. Accordingly, the
Agreement is classed as a related party transaction pursuant to
Rule 13 of the AIM Rules for Companies.
The independent directors of the Group for the purposes of this
transaction, being all directors other than James Dow, having
consulted with the Group's nominated adviser, Shore Capital,
consider the terms of the Agreement to be fair and reasonable
insofar as the Group's shareholders are concerned.
Enquiries:
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
James Thomas / John More / Mark Percy 4090
Guy Wiehahn / Isobel Jones (Corporate Broking)
Belvedere Communications
Cat Valentine Tel: +44 (0) 7715
Keeley Clarke 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, 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 97 fee
earners ("FEs"), across seven offices in England and two 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.
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END
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May 17, 2023 02:00 ET (06:00 GMT)
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