Kingswood Holdings Limited Draw Down, Conversion Notice and Issue of Equity (9772F)
July 18 2019 - 5:01AM
UK Regulatory
TIDMKWG
RNS Number : 9772F
Kingswood Holdings Limited
18 July 2019
KINGSWOOD HOLDINGS LIMITED
("KWG", the "Company" or the "Group")
Draw Down, Conversion Notice and Issue of Equity
Kingswood Holdings Limited (AIM: KWG), the integrated wealth
management group, announces a GBP750,000 draw down by the Company
on 17 July 2019 and the subsequent receipt on the same day of a
lender conversion notice ("Conversion Notice") in respect of the
GBP750,000 convertible term loan facility by KPI (Nominees) Limited
("KPI") (the "Convertible Facilities").
The GBP750,000 Convertible Facilities will convert into ordinary
shares of 5 pence each ("Ordinary Shares") at a price of 7.845
pence, being the average mid-market closing price of the Company's
Ordinary Shares for the 20 Business Days prior to the date on which
the Conversion Notice was served (the "Conversion").
As a result of this exercise, a total of 9,560,229 Ordinary
Shares will be issued pursuant to the Conversion (the "Conversion
Shares").
Following the Conversion, KPI will hold 78,353,253 Ordinary
Shares in the Company, representing 43.95 per cent of the Company's
enlarged issued share capital.
Admission and Total Voting Rights
Application will be made to the London Stock Exchange for the
Conversion Shares to be admitted to trading on AIM ("Admission").
The Conversion Shares will rank pari passu in all respects with the
existing ordinary shares, including the right to receive all
dividends and other distributions declared, made or paid in respect
of the Ordinary Shares following Admission. It is expected that
Admission will become effective, and that dealings on AIM will
commence, at 8.00 a.m. on 25 July 2019.
Following Admission the Company will have 178,278,339 Ordinary
Shares in issue. The Company does not hold any Ordinary Shares in
treasury. Therefore, the total number of Ordinary Shares with
voting rights in the Company will be 178,278,339. The above figure
may be used by shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.
PDMR disclosures
KPI is owned by Kingswood Property Finance Limited Partnership
("KPFLP"), a private investment partnership wholly owned by Gary
Wilder, CEO of KWG, and Jonathan Massing, Non-Executive Deputy
Chairman of KWG, and the PDMR disclosures below are made on that
basis.
1. Details of the Person discharging managerial responsibilities
("PDMR") / person closely associated with them ("PCA")
a) Name Jonathan Massing
------------------------------ -----------------------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------------
a) Position / status Non-Executive Deputy Chairman
------------------------------ -----------------------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ -----------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Kingswood Holdings Limited
------------------------------ -----------------------------------------------------
b) Legal Entity Identifier 213800DX97OROHY26686
------------------------------ -----------------------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------------
a) Description of Ordinary shares of 5 pence each in the
the financial instrument Company
GG00BKY4K072
------------------------------ -----------------------------------------------------
b) Nature of the transaction Conversion of existing convertible term
loan facility into ordinary shares of
5 pence each
------------------------------ -----------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
7.845p 4,780,114
----------
------------------------------ -----------------------------------------------------
d) Aggregated information As above
* Aggregated volume
* Aggregated price
------------------------------ -----------------------------------------------------
e) Date of the transaction(s) 17 July 2019
------------------------------ -----------------------------------------------------
f) Place of the transaction Outside trading venue
------------------------------ -----------------------------------------------------
1. Details of the Person discharging managerial responsibilities
("PDMR") / person closely associated with them ("PCA")
a) Name Gary Wilder
------------------------------ -----------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------
a) Position / status CEO
------------------------------ -----------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Kingswood Holdings Limited
------------------------------ -----------------------------------------
b) Legal Entity Identifier 213800DX97OROHY26686
------------------------------ -----------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description of the Ordinary shares of 5 pence each in
financial instrument the Company
GG00BKY4K072
------------------------------ -----------------------------------------
b) Nature of the transaction Conversion of existing convertible
term loan facility into ordinary shares
of 5 pence each
------------------------------ -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
7.845p 4,780,115
----------
------------------------------ -----------------------------------------
d) Aggregated information As above
* Aggregated volume
* Aggregated price
------------------------------ -----------------------------------------
e) Date of the transaction(s) 17 July 2019
------------------------------ -----------------------------------------
f) Place of the transaction Outside trading venue
------------------------------ -----------------------------------------
For further details, please contact:
Kingswood Holdings Limited +44 (0)20 7293 0730
Gary Wilder / Patrick Goulding www.kingswood-group.com
finnCap Ltd (Nomad and Broker) +44 (0)20 7220 0500
Scott Mathieson / Anthony Adams-Corporate
Finance
Tim Redfern / Richard Chambers - ECM
Greentarget (for media) +44 (0)20 7324 5498
Jamie Brownlee / Alice Gasson / Ellie Basle Jamie.Brownlee@greentarget.co.uk
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END
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