DWF welcomes Cartesian Capital as a shareholder

RNS Number : 9372Z

DWF Group PLC

24 September 2020

 

DWF Group plc

("DWF" or "the Company" or "group")

LEI: 213800O9QREOHTOGQ266

24 September 2020

DWF welcomes Cartesian Capital to its group of major shareholders

DWF is pleased to announce that Cartesian Capital Group ("Cartesian"), the New York based global private equity firm, has acquired more than 3% of the total available share capital in DWF Group plc. At 23 September 2020, Cartesian holds 14,460,741 shares, or 4.46%.

Peter Yu, Managing Partner of Cartesian Capital Group, said: "Having closely reviewed DWF's strategy and operations, we concluded that DWF's world-class, worldwide team are creating great value for their clients - and for their stakeholders. From their client-focused Managed Services to their innovative and efficient Connected Services offerings, DWF truly represents the future of integrated legal services. We are proud to partner with Sir Nigel Knowles, Matthew Doughty, and their team to support DWF's continued development."

Sir Nigel Knowles, CEO of DWF Group, added: "We have a longstanding relationship with Cartesian and we are delighted to welcome them to our group of major shareholders. It is pleasing to see the progress we have made - and the future potential in our business - being recognised with a significant new shareholder coming on-board."

TR-1: S tandard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii :			DWF Group plc
1b. Please indicate if the issuer is a non-UK issuer  (please mark with an "X" if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights						x
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:
3. Details of person subject to the notification obligation iv
Name			Cartesian Capital Group, LLC
City and country of registered office (if applicable)			Delaware USA
4. Full name of shareholder(s) (if different from 3.)v
Name			Pangaea Three-B, LP
City and country of registered office (if applicable)			George Town, Cayman Islands
5. Date on which the threshold was crossed or reached vi :			21/09/2020
6. Date on which issuer notified (DD/MM/YYYY):			23/09/2020
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached	4.46%			4.46%	324,554,653
Position of previous notification (if applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights ix					% of voting rights
		Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
GB00BJMD6M39 Ordinary Shares		14,460,741					4.46%
SUBTOTAL 8. A		14,460,741					4.46%
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument		Expiration date x	Exercise/ Conversion Period xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
			SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration date x		Exercise/ Conversion Period xi		Physical or cash settlement xii			Number of voting rights	% of voting rights
					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv(please add additional rows as necessary)				x
Name xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Cartesian Capital Group, LLC
Pangaea Three Global GP, LLC
Pangaea Three GP, LP
Panagea Three-B, LP	4.46%	N/A	4.46%
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information xvi
Cartesian Capital Group, LLC holds its interest in the DWF Group plc in its capacity as investment management company of the Pangaea Three-B, LP fund, which at the date of this notification directly holds 4.46% of the voting rights of the issuer.

Place of completion	USA
Date of completion	23/09/2020

For further information

DWF Group plc

James Igoe - Head of Communications  [phone]

Finsbury (PR advisers to DWF)

Ed Simpkins                                                               [phone]

Charles O'Brien

About DWF

DWF is a global legal business providing Complex, Managed and Connected Services, operating from 31 key locations with more than 4,200 people. The Company became the first Main Market Premium Listed legal business on the London Stock Exchange in March 2019. For more information visit:  dwfgroup.com

 

END

 

 

HOLLJMPTMTATBAM