Kingswood
Holdings Limited
("Kingswood", the "Company" or the
"Group")
New Debt
Facility
Kingswood Holdings Limited
(AIM:KWG), the international, vertically integrated wealth and
investment management group, announces a new £8.0m unsecured debt
facility (the "Facility Agreement") with funds managed by Pollen
Street Capital Limited ("Pollen Street"). The Facility Agreement
will be used to support the Company's capital requirements and
growth agenda. The headline terms of the Facility Agreement
are:
- £8.0m
facility;
- Expiry date of the
earlier of 17 October 2030; and
- Interest rate of 12%
rolled up and paid at maturity.
Related Party Transaction
Kingswood is entering into the
Facility Agreement with HSQ INVESTMENT LIMITED, a wholly owned
indirect subsidiary of funds managed and/or advised by Pollen
Street. Lindsey McMurray and Duncan Gerard are Non-Executive
Directors of the Company and employees of Pollen Street.
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 (excluding 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.
David Lawrence, Kingswood Group CEO
commented:
"Since their first investment in
Kingswood in 2019, Pollen Street have been a great partner to the
Company and this additional investment demonstrates a further
positive commitment towards our ambition to build a leading
business in the sector."
ENDS
For further details, please
contact:
|
Kingswood Holdings
Limited
|
+44 (0)20
7293 0730
|
|
David
Lawrence
|
www.kingswood-group.com
|
|
Cavendish Capital
Markets Limited (Nomad & Broker)
|
+44 (0)20
7220 0500
|
|
Simon
Hicks / Abigail Kelly
|
|
|
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.
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").
