REG - Kingswood Holdings - Related Party Transaction

Kingswood HoldingsAnnouncement

22/07/2024 07:00

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RNS Number : 1675X  Kingswood Holdings Limited  22 July 2024

22 July 2024

 

KINGSWOOD HOLDINGS LIMITED

 

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

 

Related Party Transaction

 

Kingswood Holdings Limited (AIM: KWG), the international, fully integrated
wealth and investment management group, announces that Kingswood Capital
Partners, LLC, a wholly-owned subsidiary of Kingswood US, LLC ("KUS"), which
is 50.1% owned by Kingswood, has entered into a Foreign Finders Agreement
("FFA") with KPI (Nominees) Limited ("KPI").

 

Pursuant to the FFA, for each referral made by KPI to KUS, a proportion of the
fees generated by that introduction will be payable by KUS to KPI. The quantum
of that fee is agreed by KUS and KPI on each introduction, but such
fees are only payable by KUS to KPI upon success, when income is earned by
KUS. The FFA caps referral fees payable by KUS to KPI at $5m per annum and
renews automatically each year, unless terminated by either party.

Gary Wilder and Jonathan Massing, who are Non-Executive Directors of
Kingswood, are the beneficial owners of KPI which is also a substantial
shareholder of Kingswood. Accordingly, entering into the FFA constitutes a
related party transaction under Rule 13 of the AIM Rules for Companies.

As such, the Directors of the Company (excluding Gary Wilder and Jonathan
Massing) consider, having consulted with Cavendish Capital Markets Limited,
the Company's Nominated Adviser, that the terms of the FFA 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
    Lucy Whitehead                                             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)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. It services circa 20k
clients from a growing network of offices across the UK with overseas offices
in US, Ireland and South Africa.

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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