Kingswood Holdings Ltd - London-based wealth and investment management group - Confirms it has engaged Houlihan Lokey as its financial adviser, discussing its strategic options including but not limited to a potential sale, or third-party investment, into its UK business operations. Also notes recent press speculation. Says there can be no certainty that any transaction will ultimately occur, likewise regarding the structure or terms on which any transaction might take place. Says it continues to enjoy the long-term support of its key existing investors and shareholders and continues to deliver accelerated growth and strong delivery against its strategy. Expects to publish its 2022 results during the second quarter of 2023.

On Friday last week, Kingswood completed the acquisition of Dublin-based financial advice firm Moloney Investments Ltd, following regulatory approval. In September, Kingswood said the then-proposed acquisition was for a 70% stake in Moloney Investments for a total cash consideration of €25.8 million. Kingswood also said it would increase its funds under advice or management to over £7.8 billion across the UK and Ireland, and over £10 billion overall.

Current stock price: 29.60 pence, up 12%

12-month change: up 2.1%

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