REG - Kingswood Holdings - Kingswood Additional Debt Facility

Kingswood HoldingsAnnouncement

07/05/2024 07:15

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RNS Number : 3449N  Kingswood Holdings Limited  07 May 2024

7(th) May 2024

Kingswood Holdings Limited

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

 

Additional Debt Facility

 

Further to the announcement of 16 February 2024, Kingswood Holdings Limited
(AIM:KWG), the international, vertically integrated wealth and investment
management group, announces an additional £3.0m debt facility (the "Facility
Agreement") to support the Company's capital requirements and growth agenda.
The headline terms of the Facility Agreement are:

 

-       £3.0m 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 an additional Facility Agreement with an affiliate
of HSQ INVESTMENT LIMITED. 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 INVESTMENTS LIMITED.
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 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:

 

"Kingswood continues to grow, and this Facility Agreement continues to
demonstrate our investor's positive commitment towards building Kingswood into
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 (http://www.kingswood-group.com/)
   Cavendish Capital Markets Limited (Nomad & Broker)            +44 (0)20 7220 0500
   Simon Hicks / Abigail Kelly
   GreenTarget (for Kingswood media)                             +44 (0)20 7324 5498

   Jamie Brownlee / Ellie Basle                                  Jamie.Brownlee@greentarget.co.uk
                                                              (mailto: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").

 

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