DWS Ltd (DWS.AX)
9 Dec 2016
Latest Key Developments (Source: Significant Developments)
DWS Ltd:Resignation of CFO and company secretary.Says board will commence a search to appoint a new CFO and company secretary.Says chief financial officer and company secretary,james hatherley, has tendered his resignation. Full Article
DWS Ltd:Entered into a binding agreement to acquire 75% of the issued capital in Phoenix it & t consulting pty limited for $19.5M in cash.Says acquisition of Phoenix is expected to provide DWS with annual revenue of over $40 million.Says deal to be funded by debt.Says transaction is expected to complete by the end of August 2015.Says "on completion, DWS expects to have $24.5M of debt and cash reserves in excess of $10M" Deal expected to be EPS accretive in FY 2016. Full Article
DWS Ltd:Says that it has acquired 100 pct. of issued share capital of Symplicit Pty Ltd (Symplicit) for up-front payment of $8.5 million, to be funded by cash reserves and debt, followed by further payments up to total of $6.5 million.Says further paymentsis conditional on adjustment of up-front price based on final FY15 EBITDA and EBITDA growth performance over a three-year period.Says up-front payment is based on a FY15 EBITDA multiple consistent with previous transaction multiples announced by DWS.Says Symplicit is one of Australia's User Experience (UX) digital design and innovation consultancy businesses. Full Article
DWS Ltd:Says that its chief executive officer and managing director, Lachlan Armstrong, has tendered his resignation and will leave DWS on May 29, to pursue another opportunity in private equity sector. Full Article
* "our full year results for fy17 will be dependent on underlying demand for it services in australia"