Election of Partners & LTIP Awards

RNS Number : 2812Q

Kingswood Holdings Limited

18 February 2019

 

18 February 2019

KINGSWOOD HOLDINGS LIMITED

("Kingswood" or the "Group")

Election of Partners & Long Term Incentive Plan Awards

Kingswood Holdings Limited (AIM: KWG), trading as Kingswood, the integrated wealth management group, is pleased to announce the election of its first group of Partners and the granting of initial Long Term Incentive Plan 2019 ("LTIP") awards to Partners and select team members.

Partners

Kingswood is committed to an employee ownership model. In recent weeks, the Group has rolled out a new organisation and title structure, culminating in the creation of the first group of Managing Directors and Partners in the firm. These Partners also comprise Kingswood's inaugural Executive Committee, which will support the Board and senior management team in delivering the Group's growth strategy.

Kingswood is pleased to congratulate the initial Partners as follows:

·     Rachel Bailey

·     Graydon Butler

·     Nigel Davies

·     Patrick Goulding

·     David Healy

·     Jeff Hodgetts

·     Marc Maddison

Gary Wilder, Group CEO, Kingswood, commented:" Under our new organisation structure, Kingswood will hold annual partnership elections, adding new and talented partners to the team as we grow. Achieving partnership is meant to be a life changing event for elected members, with a significant portion of compensation for members based on the future success of Kingswood."

Long Term Incentive Plan

The first series of awards under the Kingswood LTIP was granted on 15 February 2019.

The LTIP has been established to incentivise management to increase shareholder value over the long term.

Buzz West, Chairman, Kingswood, said:" The Remuneration Committee is keen to ensure that the rewards of the Company's senior team are structured to ensure that they will be effective, fair and motivate them to deliver success for the Group, its shareholders and employees over the long term". 

Pursuant to the LTIP, the following awards have been made to Board directors:

Name	Role	LTIP Award (number of shares)	Vesting Date	Total options following the Grant (number of shares)
Patrick Goulding	Group Finance Director & Operating Platform CEO	5,000,000	31 December 2021	5,000,000

The awards are subject to a three-year performance period followed by a holding period of two years. The awards are further subject to claw back and malus provisions. The performance condition for the awards is linked to the Group's growth measured against targets for EBITDA and total shareholder return ("TSR").

In addition to the awards detailed above, a further 5,350,000 awards have to date been made to other members of senior management, with some additional awards to follow, with the same vesting date, three-year performance period, two-year holding period, claw back and malus provisions. Depending on the recipient of the awards, some will be subject to Group target EBITDA and TSR performance conditions, with the remainder subject to Group target EBITDA and individual portfolio targets (including Assets Under Management / Assets Under Administration, revenue and profit).

For further details, please contact:

Kingswood Holdings Limited	[phone]
Gary Wilder / Patrick Goulding	www.kw-wealth.com
finnCap Ltd (Nomad and Broker)	[phone]
Ed Frisby / Scott Mathieson / Anthony Adams (Corporate Finance) Tim Redfern / Richard Chambers (ECM)
Newgate Communications (for media)	[phone]
Robin Tozer / Fiona Norman

About Kingswood                                        

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) integrated wealth management group, with more than 4,500 active clients and c.£2 billion of Assets Under Advice. It has a growing network of offices in the UK including London, Manchester, Cheltenham, Maidstone, Worcester, Beverley and Abingdon, and an office in Johannesburg, South Africa.

Kingswood offers a portfolio of services 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, wealth planning, and stockbroking.  Kingswood is focused on becoming a leading player in the wealth management market through targeted acquisitions in the UK, with the ultimate goal of creating a global business through strategic partnerships and its ambition is to gain a foothold in the US market in the near future.

1.	Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	Patrick Goulding
2.	Reason for the notification
a)	Position / status	Group Finance Director
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kingswood Holdings Limited
b)	Legal Entity Identifier	213800DX97OROHY26686
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument	Options over ordinary shares of 5 pence each in the Company GG00BKY4K072
b)	Nature of the transaction	Grant of options over Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 5p 5,000,000
d)	Aggregated information -     Aggregated volume -     Aggregated price	5,000,000 5p
e)	Date of the transaction(s)	15 February 2019
f)	Place of the transaction	London Stock Exchange, AIM

 

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