Source - LSE Regulatory
RNS Number : 3142K
Kingswood Holdings Limited
31 October 2024
 

Kingswood Holdings Limited 

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

 

Additional Debt Facility

 

 

 

Further to the announcements of 15 August 2024, 7 May 2024 and 16 February 2024, Kingswood Holdings Limited (AIM:KWG), the international, vertically integrated wealth and investment management group, announces an additional £4.0m debt facility (the "Facility Agreement") to provide the Company with the capital required in the short term to provide additional working capital to the Company. The headline terms of the Facility Agreement are:

 

-       £4.0m facility;

-       Repayment date of earlier of 29 October 2030 or date of an exit or partial exit; and

-       Interest rate of 12%, paid at maturity.

 

Kingswood is entering into an additional Facility Agreement with an affiliate of HSQ INVESTMENT LIMITED. Lindsey McMurray and Duncan Gerard are Non-Executive Directors of the Company and employees of Pollen Street Capital Limited ("Pollen Street") an affiliate of HSQ INVESTMENTS LIMITED. Accordingly, entering into the Facility Agreement constitutes a related party transaction under Rule 13 of the AIM Rules for Companies.

 

As such, the Directors of the Company (other than Lindsey McMurray and Duncan Gerard) consider, having consulted with Cavendish Capital Market Limited, the Company's Nominated Adviser, that the terms of the Facility Agreement are fair and reasonable insofar as the Company's shareholders are concerned.

 

 

For further details, please contact:

Kingswood Holdings Limited

+44 (0)20 7293 0730

Peter Coleman

www.kingswood-group.com

Cavendish Capital Markets Limited (Nomad & Broker)

+44 (0)20 7220 0500

Marc Milmo / Abigail Kelly


GreenTarget (for Kingswood media)

Jamie Brownlee / Ellie Basle 

+44 (0)783 457 1183

eleonore.basle@greentarget.co.uk

 

About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) international fully integrated wealth management group with circa £12 billion of assets under advice and management. It services circa 19k clients from a growing network of offices across the UK with overseas offices in Ireland, South Africa and the 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 building on its position as a leading player in the wealth and investment management market through targeted acquisitions, creating a global business through strategic partnerships.

 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (596/2014/EU) as it forms part of UK domestic law by virtue of the European Union (withdrawal) act 2018 ("MAR").

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