DSW Capital plc has entered into an updated Trademark Licence 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 £144,000 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.£48,000 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 £1 after the expiration of the Agreement.