REG - Kingswood Holdings - Deferred consideration payment for Sterling Trust

Kingswood HoldingsAnnouncement

27/10/2022 07:01

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RNS Number : 2509E  Kingswood Holdings Limited  27 October 2022

 Kingswood Holdings Limited

("Kingswood" or the "Group")

 

 Deferred consideration payment for Sterling Trust

Settlement of first deferred consideration payment regarding Sterling Trust
Independent Financial Advisers business and assets acquired in June 2020

Kingswood Holdings Limited (AIM: KWG), the international fully integrated
wealth and investment management group, is pleased to announce that it has
made the second deferred consideration payment of £5.275m, relating to the
acquisition of Sterling Trust, as announced on 25 June 2020.

 

A portion of the cash proceeds from the issue of 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 77.4m shares (at an issue price of £1 each).

 

ENDS

 

 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
  Simon Hicks / Abigail Kelly
  GreenTarget (for Kingswood media)                    +44 (0)20 7324 5498

  Jamie Brownlee / Alice Gasson / Ellie Basle          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
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 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.

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