REG - Kingswood Holdings - Additional Debt Facility

Kingswood HoldingsAnnouncement

31/10/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241031:nRSe3142Ka&default-theme=true

RNS Number : 3142K  Kingswood Holdings Limited  31 October 2024

Kingswood Holdings Limited

("Kingswood", the "Company" or the "Group")

 

Additional Debt Facility

 

 

 

Further to the announcements of 15 August 2024, 7 May 2024 and 16 February
2024, Kingswood Holdings Limited (AIM:KWG), the international, vertically
integrated wealth and investment management group, announces an additional
£4.0m debt facility (the "Facility Agreement") to provide the Company with
the capital required in the short term to provide additional working capital
to the Company. The headline terms of the Facility Agreement are:

 

-       £4.0m facility;

-       Repayment date of earlier of 29 October 2030 or date of an exit
or partial exit; and

-       Interest rate of 12%, paid at maturity.

 

Kingswood is entering into an additional Facility Agreement with an affiliate
of HSQ INVESTMENT LIMITED. Lindsey McMurray and Duncan Gerard are
Non-Executive Directors of the Company and employees of Pollen Street Capital
Limited ("Pollen Street") an affiliate of HSQ INVESTMENTS LIMITED.
Accordingly, entering into the Facility Agreement constitutes a related party
transaction under Rule 13 of the AIM Rules for Companies.

 

As such, the Directors of the Company (other than Lindsey McMurray and Duncan
Gerard) consider, having consulted with Cavendish Capital Market Limited, the
Company's Nominated Adviser, that the terms of the Facility Agreement are fair
and reasonable insofar as the Company's shareholders are concerned.

 

 

For further details, please contact:

 Kingswood Holdings Limited                               +44 (0)20 7293 0730
 Peter Coleman                                            www.kingswood-group.com (http://www.kingswood-group.com/)
 Cavendish Capital Markets Limited (Nomad & Broker)       +44 (0)20 7220 0500
 Marc Milmo / Abigail Kelly
 GreenTarget (for Kingswood media)                        +44 (0)783 457 1183

 Jamie Brownlee / Ellie Basle                             eleonore.basle@greentarget.co.uk (mailto:eleonore.basle@greentarget.co.uk)

 

About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG)
international fully integrated wealth management group with circa £12
billion of assets under advice and management. It services circa 19k clients
from a growing network of offices across the UK with overseas offices in
Ireland, South Africa and the US.

Kingswood offers a range of trusted investment solutions to its clients, which
range from private individuals to some of the UK's largest universities and
institutions, including investment advice and management, personal and company
pensions and wealth planning. Kingswood is focused on building on its position
as a leading player in the wealth and investment management market through
targeted acquisitions, creating a global business through strategic
partnerships.

 

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (596/2014/EU) as it forms part of UK domestic law
by virtue of the European Union (withdrawal) act 2018 ("MAR").

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IODQKKBBKBDBFKN