REG - Kingswood Holdings - Deferred consideration payment for Thomas & Co

Kingswood HoldingsAnnouncement

08/03/2022 18:00

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RNS Number : 0979E  Kingswood Holdings Limited  08 March 2022

8(th) March 2022

 

 Deferred consideration payment for Thomas & Co

Settlement of third deferred consideration payment regarding Thomas & Co
business and assets acquired in February 2019

 

Kingswood Holdings Limited (AIM: KWG), the international, vertically
integrated wealth and investment management group, is pleased to announce that
it has made the third deferred consideration payment in the amount
of £572k relating to the acquisition of Thomas & Co, as announced on 1
February 2019.

 

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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