REG - Kingswood Holdings - Deferred consideration payment for Regency

Kingswood HoldingsAnnouncement

05/04/2022 13:00

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RNS Number : 3431H  Kingswood Holdings Limited  05 April 2022

5th April 2022

 

KINGSWOOD HOLDINGS LIMITED

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

 Deferred consideration payment for Regency Investment Services

 

Settlement of first deferred consideration payment regarding Regency
Investment Services and assets acquired in November 2020

 

Kingswood Holdings Limited (AIM: KWG), the international, vertically
integrated wealth and investment management group, is pleased to announce that
it has made the first deferred consideration payment in the amount
of £690k relating to the acquisition of Regency Investment Services, as
announced on 17 November 2020.

 

A portion of the cash proceeds from the issue of new convertible preference
shares on 31 December 2021 have been used to make this deferred
consideration payment.

 

The convertible preference shares were issued under the terms of the Company's
convertible preference share subscription agreement with HSQ INVESTMENT
LIMITED, originally announced on 12 September 2019. HSQ INVESTMENT LIMITED is
a wholly owned indirect subsidiary of funds managed and/or advised by Pollen
Street Capital Limited ("Pollen Street").

 

The total number of irredeemable convertible preference shares held by Pollen
Street is 77,428,443 shares (at an issue price of £1 each).

 

 

For further details, please contact:

 Kingswood Holdings Limited                                   +44 (0)20 7293 0730

 David Lawrence                                               www.kingswood-group.com (http://www.kingswood-group.com)

 finnCap Ltd (Nomad & Broker)                                 +44 (0)20 7220 0500

 Stuart Andrews / Simon Hicks / Abigail Kelly

 GreenTarget (for Kingswood media)                            +44 (0)20 7324 5498

 Jamie Brownlee / Alice Gasson / Ellie Basle                  Jamie.Brownlee@greentarget.co.uk
                                                         (mailto:Jamie.Brownlee@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 £9.1
billion of Assets under Advice and Management. It services circa 19,300
clients from a growing network of offices in the UK including Abingdon,
Beverley, Conisbrough, Darlington, Derby, Essex, Grimsby, Hampshire,
Harrogate, Hull, Lincoln, London, Maidstone, Newcastle, Sheffield (2),
Worcester and York with overseas offices in Johannesburg, South
Africa and Atlanta, New York and San Diego in 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 becoming a leading
player in the wealth and investment management market through targeted
acquisitions in the UK and US, creating a global business through strategic
partnerships.

 

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