Deferred consideration payment for Regency

RNS Number : 3431H

Kingswood Holdings Limited

05 April 2022

 

5th April 2022

KINGSWOOD HOLDINGS LIMITED

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

 Deferred consideration payment for Regency Investment Services

Settlement of first deferred consideration payment regarding Regency Investment Services and assets acquired in November 2020

Kingswood Holdings Limited (AIM: KWG), the international, vertically integrated wealth and investment management group, is pleased to announce that it has made the first deferred consideration payment in the amount of 690k relating to the acquisition of Regency Investment Services, as announced on 17 November 2020.

A portion of the cash proceeds from the issue of new convertible preference shares on 31 December 2021 have been used to make this deferred consideration payment.

The convertible preference shares were issued under the terms of the Company's convertible preference share subscription agreement with HSQ INVESTMENT LIMITED, originally announced on 12 September 2019. HSQ INVESTMENT LIMITED is a wholly owned indirect subsidiary of funds managed and/or advised by Pollen Street Capital Limited ("Pollen Street").

The total number of irredeemable convertible preference shares held by Pollen Street is 77,428,443 shares (at an issue price of 1 each).  

For further details, please contact:

Kingswood Holdings Limited		[phone]
David Lawrence		www.kingswood-group.com
finnCap Ltd (Nomad & Broker)		[phone]
Stuart Andrews / Simon Hicks / Abigail Kelly
GreenTarget (for Kingswood media) Jamie Brownlee / Alice Gasson / Ellie Basle		[phone]   [e-mail]

About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) international fully integrated wealth management group with circa 9.1 billion of Assets under Advice and Management. It services circa 19,300 clients from a growing network of offices in the UK including Abingdon, Beverley, Conisbrough, Darlington, Derby, Essex, Grimsby, Hampshire, 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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