Source - LSE Regulatory
RNS Number : 8034A
Kingswood Holdings Limited
14 March 2025
 

Kingswood Holdings Limited 

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

 

Additional Debt Facility

 

Further to the announcement on 12 March 2025 relating to the Company's immediate funding needs and the subsequent announcement that HSQ Investment Limited ("HSQ"), a wholly owned indirect subsidiary of funds managed and/or advised by Pollen Street Capital Limited ("Pollen Street"), has acquired all of the Kingswood Shares owned by KPI Nominees Ltd, Kingswood is pleased to announce an additional £4.8m debt facility (the "Facility Agreement") to provide the Company with the capital it needs to meet its immediate deferred consideration obligations.

The headline terms of the Facility Agreement are:

-       £4.8m 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 the Facility Agreement with an affiliate of HSQ 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. 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 / Isaac Hooper


GreenTarget (for Kingswood media)

Jamie Brownlee / Ellie Basle 

+44 (0)20 7324 5498

Jamie.Brownlee@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.

 

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