Deferred consideration payment for Thomas & Co

RNS Number : 0979E

Kingswood Holdings Limited

08 March 2022

 

8^th March 2022

 Deferred consideration payment for Thomas & Co

Settlement of third deferred consideration payment regarding Thomas & Co business and assets acquired in February 2019 

Kingswood Holdings Limited (AIM: KWG), the international, vertically integrated wealth and investment management group, is pleased to announce that it has made the third deferred consideration payment in the amount of 572k relating to the acquisition of Thomas & Co, as announced on 1 February 2019.

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.

 

END

 

 

MSCFLFEDVVITIIF