DWF, the global provider of integrated legal and business services, is pleased to announce that it has now completed the transaction with Whitelaw Twining Law Corporation, a leading independent law firm headquartered in Vancouver, Canada, and TWK Management Limited, an intra-group services company (collectively, "Whitelaw Twining").
The agreement was announced on 7 November 2022 and all pre-conditions referred to in that announcement have now been met.
A partnership has been established in British Columbia to provide Legal Advisory and Connected Services through the operations of Whitelaw Twining and DWF's existing loss adjusting practice in Ontario, and a relationship agreement has been entered into between DWF and Whitelaw Twining's Alberta practice.
As a result, 16,504,757 new Ordinary Shares of the Company will be issued pursuant to the terms of the agreement on 3 January 2023 and a further announcement will be made in due course. The number of shares to be issued was calculated by reference to a blended price based on the six month pre-signing volume-weight average price ("VWAP) and the ten day pre-signing VWAP.
As previously announced on 7 November 2022, further shares with a value of up to $3.0m (£2.0m) may be issued in February 2023 if certain 2022 calendar year financial targets and criteria are met.
For further information:
DWF Group plc
Head of Communications & IR
Sam Turvey or Sam Cartwright
+44(0)20 7379 5151
About DWF Group
DWF is a global provider of integrated legal and business services provided through its three offerings of Legal Advisory, Mindcrest and Connected Services. It has approximately 4,000 people and offices and associations located across the globe. The Company became the first Main Market Premium Listed legal business on the London Stock Exchange in March 2019. DWF recorded revenue of £350.2 million in the year ended 30 April 2022. For more information visit: dwfgroup.com
DWF's three divisions represent its single Integrated Legal Management approach through which the Group can seamlessly combine any number of these services to deliver bespoke solutions to its clients with greater efficiency, price certainty and transparency. This approach enables DWF to offer clients solutions that combine traditional law firm services with new, modern legal and business services relevant to today's companies and the challenges and opportunities they face.
About Whitelaw Twining
Whitelaw Twining is a full-service litigation law firm, founded in Vancouver with over 150 fee earners in its Vancouver and Calgary offices. It is an industry leader in the fields of insurance, commercial litigation, construction, plaintiff’s personal injury and alternative dispute resolution services. Whitelaw Twining is an innovative, passionate team, building long-term relationships with local, national and international clients for more than 40 years.
Forward looking statements
This announcement contains certain forward‐looking statements with respect to the Company's current targets, expectations and projections about future performance, anticipated events or trends and other matters that are not historical facts. These forward‐looking statements, which sometimes use words such as "aim", "anticipate", "believe", "intend", "plan" "estimate", "expect" and words of similar meaning, include all matters that are not historical facts and reflect the directors' beliefs and expectations and involve a number of risks, uncertainties and assumptions that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward‐looking statement.