Kingswood Holdings Limited Convertible preference share issue (2036K)
December 31 2020 - 2:00AM
UK Regulatory
TIDMKWG
RNS Number : 2036K
Kingswood Holdings Limited
31 December 2020
31(st) December 2020
KINGSWOOD HOLDINGS LIMITED
("Kingswood", the "Company" or the "Group")
Convertible preference share issue
Kingswood announces a further GBP20 million convertible
preference share issue to funds managed/and or advised by Pollen
Street Capital
Brings total equity issued under subscription facility to GBP45
million of the GBP80 million convertible preference share
programme.
Funds to be used to further accelerate acquisitive growth
strategy
Kingswood Holdings Limited (AIM: KWG) the vertically integrated
global wealth management group announces it has issued a further
20,000,000 new convertible preference shares (the "New Convertible
Preference Shares"), under the terms of its convertible preference
share subscription agreement with HSQ INVESTMENT LIMITED,
originally announced on 12 September 2019. HSQ INVESTMENT LIMITED
is a wholly owned indirect subsidiary of funds managed and/or
advised by Pollen Street Capital Limited ("Pollen Street").
The New Convertible Preference Shares represent the tenth
tranche of irredeemable convertible preference shares issued
pursuant to the subscription agreement and as such the total number
of irredeemable Convertible Preference Shares held by Pollen Street
has increased to 44,828,443 shares at an issue price of GBP1
each.
Gary Wilder, Group CEO at Kingswood commented: "We are thrilled
to have Pollen Street's capital support through the convertible
preference facility and this new issue further solidifies our
balance sheet by an additional GBP20 million as we accelerate the
next stage of our growth journey and puts us in a strong position
to deliver our global strategy. We are evaluating a number of
potential acquisition opportunities with a clear and executable
pipeline across the UK, in addition to the growth opportunities
available to us in the US largely through active recruitment and
organic growth.
We have a strong and dynamic leadership team with large firm
financial services experience and successful track records which
combined with our strong risk and compliance culture places us in a
unique position to effectively execute our strategy".
Howard Garland, Partner at Pollen Street said: "We continue to
believe the wealth management sector offers compelling
opportunities for growth. Kingswood has a clear strategy and we are
excited to partner with them to deliver these goals. Pollen Street
has extensive expertise in the global financial services sector,
growing market leading companies organically and through
acquisition. We believe our unique experience and skillset coupled
with our capital commitment will enable Kingswood to continue to
successfully execute their strategy."
For further details, please contact:
Kingswood Holdings Limited
Gary Wilder / Patrick Goulding
+44 (0)20 7293 0730
www.kingswood-group.com
Peel Hunt LLP (Nomad and Broker)
James Britton / Rishi Shah
+44 (0)20 7418 8900
Greentarget (for Kingswood media)
Jamie Brownlee / Alice Gasson / Ellie Basle
+44 (0)20 7324 5498
Jamie.Brownlee@greentarget.co.uk
Stand Agency (for Pollen Street media)
Cait Dacey
+44 (0) 7973 596 503
pollenstreet@standagency.com
About Kingswood
Kingswood Holdings Limited (trading as Kingswood) is an
AIM-listed (AIM: KWG) international fully integrated wealth
management group, with around 16,000 active clients and circa
GBP5.6 billion of Assets under Advice and Management. It has a
growing network of offices in the UK including Abingdon, Beverley,
Darlington, Derby, Egham, Grimsby, Hull, Lincoln, London,
Maidstone, Newcastle, Sheffield (2), Worcester and York with
offices in Johannesburg, South Africa and Atlanta, New York and San
Diego in 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 becoming a leading player in the wealth and
investment management market through targeted acquisitions in the
UK and US, creating a global business through strategic
partnerships.
About Pollen Street Capital
Pollen Street Capital is an independent alternative asset
investment management company focused on the financial and business
services sectors across both private equity and credit strategies.
The private equity strategy is focused on investing middle market
firms which have the capacity to become leaders in their field
across Europe. Pollen Street have deployed over GBP1.2bn capital
into this strategy over the last 14 years delivering strong returns
for its investors that include leading pension funds, asset
managers, banks and family offices from around the world. Pollen
Street Capital has a team of 70+ professionals with offices in
London and New York.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IOEKKKBPCBDDFBN
(END) Dow Jones Newswires
December 31, 2020 02:00 ET (07:00 GMT)
Kingswood (LSE:KWG)
Historical Stock Chart
From Apr 2024 to May 2024
Kingswood (LSE:KWG)
Historical Stock Chart
From May 2023 to May 2024