23rd March 2021
Deferred consideration payment for Thomas & Co
Settlement of second deferred consideration payment regarding Thomas & Co business and assets acquired in February 2019
Kingswood Holdings Limited (AIM: KWG), the international fully integrated wealth and investment management group, is pleased to announce that it has made the second deferred consideration payment in the amount of £475k 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 2020 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 remains 44,828,443 shares (at an issue price of £1 each).
ENDS
For further details, please contact:
|
Kingswood Holdings Limited |
+44 (0)20 7293 0730 |
| David Lawrence / Patrick Goulding | |
|
|
|
| Peel Hunt LLP (Nomad and Broker) | +44 (0)20 7418 8900 |
| James Britton / Rishi Shah |
|
|
|
|
| Greentarget (for Kingswood media) Jamie Brownlee / Alice Gasson / Ellie Basle | +44 (0)20 7324 5498 |
Stand Agency (for Pollen Street media)
Cait Dacey
+44 (0) 7973 596 503
About Kingswood
Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) international fully integrated wealth management group, with around 16,000 active clients and circa £5.9 billion of Assets under Advice and Management. It has a growing network of offices in the UK including Abingdon, Beverley, Darlington, Derby, Egham, Grimsby, Hull, Lincoln, London, Maidstone, Newcastle, Sheffield (2), Worcester and York with 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.
About Pollen Street Capital
Pollen Street Capital is an independent alternative asset investment management company focused on the financial and business services sectors across both private equity and credit strategies. The private equity strategy is focused on investing middle market firms which have the capacity to become leaders in their field across Europe. Pollen Street have deployed over £1.2bn capital into this strategy over the last 14 years delivering strong returns for its investors that include leading pension funds, asset managers, banks and family offices from around the world. Pollen Street Capital has a team of 70+ professionals with offices in London and New York.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
