viewKingswood Holdings Limited

Kingswood Holdings - Completion of WFI and Bridge Finance Facility

RNS Number : 2454O
Kingswood Holdings Limited
01 October 2019

1 October 2019


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

Completion of WFI and Bridge Finance Facility


Kingswood Holdings Limited (AIM: KWG), the integrated wealth management group, is delighted to announce that, further to the announcement dated 4 September 2019, it has completed the acquisition of the business and assets of WFI Financial ("WFI"), an independent regional financial planning business based in Sheffield with offices also in Derby, Lincoln and Grimsby (the "Acquisition").

The Acquisition represents the continuation of the Group's expansion of its national wealth management footprint to the Midlands and the North. The Acquisition will be immediately accretive to the Group.

WFI has 16 financial planners and 17 support staff and manage in excess of £550 million AUM/AUA from over 970 family clients. WFI has a very successful track record of profitability and growth through an expanded advisory platform, a Centralised Investment Proposition and a lean operating structure. The Group now has c. 5,500 active clients and AUM/AUA of £2.5bn.

Pending the satisfaction of the FCA condition relating to Pollen Street's investment in Convertible Preference Shares, the Company and Pollen Street have elected to fund the Acquisition by way of a six-month £3.58 million secured bridge finance facility from Pollen Street, with a 5% rate of interest (prior to any compounding of interest). Pollen Street has the option to capitalise the facility into Convertible Preference Shares if the FCA condition is satisfied within the six month term of the facility.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as the definitions set out in Appendix II of the announcement dated 12 September 2019.


For further details, please contact:

Kingswood Holdings Limited

+44 (0)20 7293 0730

Gary Wilder / Patrick Goulding


finnCap Ltd (Nomad and Broker)

+44 (0)20 7220 0500

Scott Mathieson / Anthony Adams - Corporate Finance

Tim Redfern / Richard Chambers - ECM

Greentarget (PR adviser to Kingswood)

Jamie Brownlee / Alice Gasson / Ellie Basle 

+44 (0)20 7324 5498

[email protected]

Camarco (PR adviser to Pollen Street)

Ed Gascoigne-Pees / Jennifer Renwick

+44 (0)20 3757 4984

[email protected]


The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014 

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 [email protected] or visit www.rns.com.

Quick facts: Kingswood Holdings Limited

Price: 21

Market: LSE
Market Cap: £45.55 m

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



A 'sigh of relief' at European Wealth now they're back on an even keel after...

On the back of their £8.8mln fundraise, John Morton, chief executive of European Wealth Group Limited (LON:EWG) tells Proactive the main strategy behind the injection of cash was to replace a convertible loan they had in place which was due for repayment. ''It got to the stage where we...

on 18/7/17