Harwood Wealth Management Group PLC Acquisitions update and Notice of results (2488Q)
June 05 2018 - 1:01AM
UK Regulatory
TIDMHW.
RNS Number : 2488Q
Harwood Wealth Management Group PLC
05 June 2018
05 June 2018
Harwood Wealth Management Group
("Harwood Wealth", the "Company" or the "Group")
Acquisitions update
and
Notice of results
Harwood Wealth Management Group (AIM: HW.), a leading UK-based
financial planning and discretionary wealth management business, is
pleased to announce that for the six months to 30 April 2018 the
Group completed nine acquisitions for an aggregate consideration of
GBP10.9m and combined Assets under Influence of GBP310m.
Of this consideration, GBP6.7m was paid at the time of the
initial consideration with the balance to be paid though the
Group's usual earn-out model over the subsequent two years subject
to the achievement of performance criteria. These acquisitions
included the larger acquisitions of AE Financial Ltd (the Group's
largest acquisition to date), Plan65 Ltd and Fund Management
Limited Advisers Limited, details of which were announced in March
and April. The Group also paid GBP1.8m in respect of the earn-out
payments for acquisitions made in prior periods which had achieved
the requisite performance criteria.
The Company will report its results for the six months to 30
April 2018 on 03 July 2018.
Peter Mann, Non-executive Chairman of Harwood Wealth Management
Group, said:
"I am pleased to report that the team has managed to execute
nine deals over the period, several of which were of a large scale
and all of which are excellent additions to our business. The
frequency with which we are managing to complete on acquisitions of
stable, high-quality businesses with strong client bases
demonstrates the rich pool of opportunities available to Harwood,
alongside our excellent reputation for acquisition and integration.
We look forward to reporting further details in our interim
statement next month."
For further information please contact:
Harwood Wealth Management Group
plc
Alan Durrant, Chief Executive +44 (0)23 9355
Officer 2004
N+1 Singer Advisory LLP +44 (0)20 7496
Shaun Dobson 3000
Alma PR
Rebecca Sanders-Hewett / Susie +44 (0)20 8004
Hudson 4218
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
NORFIMATMBIMBJP
(END) Dow Jones Newswires
June 05, 2018 02:01 ET (06:01 GMT)
Harwood Wealth Management (LSE:HW.)
Historical Stock Chart
From Apr 2024 to May 2024
Harwood Wealth Management (LSE:HW.)
Historical Stock Chart
From May 2023 to May 2024