TIDMKWG

RNS Number : 2661D

Kingswood Holdings Limited

25 June 2019

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

25 June 2019

Kingswood Holdings Limited

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

Corporate Update

Kingswood Holdings Limited (AIM: KWG), the integrated wealth management group, is pleased to provide the following corporate update in relation to the Company's acquisition pipeline and the funding for that pipeline.

As announced in the Company's final results on 15 April 2019, the Company has an acquisition pipeline in excess of GBP100m and the Board has continued to explore opportunities to source additional funding to support the execution of this pipeline. The Company confirms that it has agreed non-binding heads of terms with a provider of substantial permanent growth capital with regards to a potential equity investment in the form of convertible preference shares and is now undertaking an extensive due diligence exercise. This injection of capital would be consistent with the Group's stated strategy of pursuing accretive acquisitions across the UK and internationally, a number of which are in advanced stages of negotiation with due diligence being undertaken. Further announcements will be made as and when it is appropriate to do so and the Board wishes to stress that any such investment would be subject to the requisite regulatory and shareholder approvals.

ENDS

Notes to Editors

For more information, please contact:

 
 Kingswood Holdings Limited                     +44 (0)20 7293 0730 
 Gary Wilder / Patrick Goulding                 www.kingswood-group.com 
 
 finnCap Ltd (Nomad and Broker)                 +44 (0)20 7220 0500 
 Scott Mathieson / Anthony Adams (Corporate 
  Finance) 
  Tim Redfern / Richard Chambers (ECM) 
 Greentarget (for media)                        +44 (0)20 7324 5498 
 Jamie Brownlee / Alice Gasson / Ellie Basle    kingswood@greentarget.co.uk

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. GBP2 billion of Assets under Management and Advice. It has a growing network of offices in the UK including London, Manchester, Cheltenham, Maidstone, Worcester, Beverley and Abingdon as well as an office in Johannesburg, South Africa and recently acquired a strategic stake in US-based, Manhattan Harbor.

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, with the ultimate goal of creating a global business through strategic partnerships.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

AGRLFFFLRVISFIA

(END) Dow Jones Newswires

June 25, 2019 02:01 ET (06:01 GMT)

Kingswood (LSE:KWG)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Kingswood Charts.
Kingswood (LSE:KWG)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Kingswood Charts.