REG - Kingswood Holdings - Related Party Transactions

Kingswood HoldingsAnnouncement

31/12/2021 09:50

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RNS Number : 1775X  Kingswood Holdings Limited  31 December 2021

KINGSWOOD HOLDINGS LIMITED

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

Related Party Transactions

 

Kingswood Holdings Limited (AIM: KWG), announces that during the financial
years ending 31 December 2018 ("FY2018") and 31 December 2019 ("FY2019") it
entered into a number of transactions with Kingswood LLP, Moor Park Capital
Partners LLP ("Moor Park") and KPI (Nominees) Ltd ("KPI Nominees") consisting
of total payments of £298,520 in 2018 and total payments of £215,894 and a
receipt of £20,000 in 2019.

The costs incurred related to:

-      Director fees for Gary Wilder and Jonathan Massing (2018 £85,812
and 2019 £125,000);

-      Kingswood LLP provided accounting support and payroll related
services to the Company (2018 £25,038 and 2019 £90,894);

-      Moor Park provided consultancy services to the Company in FY2018
through Gary Wilder (£167,428); and

-      A recharge of legal fees incurred by KPI Nominees on behalf of the
Company (£20,242).

Jonathan Massing, Non-Executive Director of the Company is the majority
shareholder of Kingswood LLP and Gary Wilder, Group Chief Executive Officer of
the Company is a member of the Kingswood LLP partnership. Gary Wilder is also
the executive chairman of Moor Park. KPI Nominees is a significant shareholder
in the Company. Jonathan Massing and Gary Wilder each have a beneficial
shareholding in KPI Nominees.

The independent directors of the Company, having consulted with finnCap Ltd in
its capacity as the Company's nominated adviser for the purposes of the AIM
Rules, consider the terms of these transactions to be fair and reasonable
insofar as the Company's shareholders are concerned.

The independent directors in relation to these matters are all of the
directors of the Company except for Jonathan Massing and Gary Wilder, who are
not considered independent because of their interests in the various parties
with which the Company transacted.

 

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 £7.8
billion of Assets under Advice and Management. It services circa 8600 clients
from a growing network of offices in the UK including Abingdon, Beverley,
Darlington, Derby, Grimsby, 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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