Completion of Share Purchase Agreement

RNS Number : 4109L

Kingswood Holdings Limited

05 September 2019

 

5 September 2019

KINGSWOOD HOLDINGS LIMITED

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

Completion of Share Purchase Agreement

Kingswood Holdings Limited (AIM: KWG), the integrated wealth management group, announces that, further to the announcement made on 2 July 2019, it has been notified by KPI (Nominees) Limited ("KPI") that the sale and purchase agreement (the "Agreement") with Astoria Investments (UK) Limited ("Astoria") in relation to Astoria's shares in the Company has been completed (the "Purchase").

KPI has determined that the conditions of the Agreement have now been satisfied and accordingly KPI has now purchased Astoria's holding of 28,059,272 ordinary shares of 5 pence each in the Company ("Ordinary Shares") for a price of 7.5 pence per Ordinary Share.

Following the Purchase, KPI now holds 145,054,905 Ordinary Shares in the Company, representing 66.9 per cent. of the Company's enlarged issued share capital and Astoria no longer holds any shares in the Company.

PDMR disclosures

KPI is owned by Kingswood Property Finance Limited Partnership a private investment partnership wholly owned by Gary Wilder, CEO of KWG, and Jonathan Massing, Non-Executive Deputy Chairman of KWG, and the PDMR disclosures below are made on that basis.

1.	Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	Jonathan Massing
2.	Reason for the notification
a)	Position / status	Non-Executive Deputy Chairman
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	Ordinary shares of 5 pence each in the Company GG00BKY4K072
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 7.5 28,059,272
d)	Aggregated information -     Aggregated volume -     Aggregated price	As above
e)	Date of the transaction(s)	5 September 2019
f)	Place of the transaction	Off-market

1.	Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	Gary Wilder
2.	Reason for the notification
a)	Position / status	CEO
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	Ordinary shares of 5 pence each in the Company GG00BKY4K072
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 7.5p 28,059,272
d)	Aggregated information -     Aggregated volume -     Aggregated price	As above
e)	Date of the transaction(s)	5 September 2019
f)	Place of the transaction	Off-market

For further details, please contact:

Kingswood Holdings Limited	[phone]
Gary Wilder / Patrick Goulding	www.kingswood-group.com
finnCap Ltd (Nomad and Broker)	[phone]
Scott Mathieson / Anthony Adams - Corporate Finance Tim Redfern / Richard Chambers - ECM
Greentarget (for media) Jamie Brownlee / Alice Gasson / Ellie Basle	[phone] [e-mail]

 

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