REG - Kingswood Holdings - Kingswood secures new debt facility

Kingswood HoldingsAnnouncement

16/02/2024 07:00

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RNS Number : 3588D  Kingswood Holdings Limited  16 February 2024

Kingswood Holdings Limited

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

 

New Debt Facility

 

Kingswood Holdings Limited (AIM:KWG), the international, vertically integrated
wealth and investment management group, announces a new £8.0m unsecured debt
facility (the "Facility Agreement") with funds managed by Pollen Street
Capital Limited ("Pollen Street"). The Facility Agreement will be used to
support the Company's capital requirements and growth agenda. The headline
terms of the Facility Agreement are:

 

-       £8.0m facility;

-       Expiry date of the earlier of 17 October 2030; and

-       Interest rate of 12% rolled up and paid at maturity.

 

Related Party Transaction

 

Kingswood is entering into the Facility Agreement with HSQ INVESTMENT LIMITED,
a wholly owned indirect subsidiary of funds managed and/or advised by Pollen
Street. Lindsey McMurray and Duncan Gerard are Non-Executive Directors of the
Company and employees of Pollen Street. 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 (excluding 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.

 

David Lawrence, Kingswood Group CEO commented:

 

"Since their first investment in Kingswood in 2019, Pollen Street have been a
great partner to the Company and this additional investment demonstrates a
further positive commitment towards our ambition to build a leading business
in the sector."

 

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/)
   Cavendish Capital Markets Limited (Nomad & Broker)         +44 (0)20 7220 0500
   Simon Hicks / Abigail Kelly
   Greentarget (for Kingswood media)                          +44 (0)20 7324 5498

   Jamie Brownlee / 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 £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").

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