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viewKingswood Holdings Limited

Completion of Share Purchase Agreement

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RNS Number : 4109L
Kingswood Holdings Limited
05 September 2019
 

5 September 2019

KINGSWOOD HOLDINGS LIMITED

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

Completion of Share Purchase Agreement

Kingswood Holdings Limited (AIM: KWG), the integrated wealth management group, announces that, further to the announcement made on 2 July 2019, it has been notified by KPI (Nominees) Limited ("KPI") that the sale and purchase agreement (the "Agreement") with Astoria Investments (UK) Limited ("Astoria") in relation to Astoria's shares in the Company has been completed (the "Purchase").

KPI has determined that the conditions of the Agreement have now been satisfied and accordingly KPI has now purchased Astoria's holding of 28,059,272 ordinary shares of 5 pence each in the Company ("Ordinary Shares") for a price of 7.5 pence per Ordinary Share.

Following the Purchase, KPI now holds 145,054,905 Ordinary Shares in the Company, representing 66.9 per cent. of the Company's enlarged issued share capital and Astoria no longer holds any shares in the Company.

PDMR disclosures

KPI is owned by Kingswood Property Finance Limited Partnership 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 / amendment

Initial notification

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 financial instrument

Ordinary shares of 5 pence each in the Company

GG00BKY4K072

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

7.5

28,059,272

 

d)

Aggregated information

-     Aggregated volume

-     Aggregated price

 

As above

 

e)

Date of the transaction(s)

5 September 2019

f)

Place of the transaction

Off-market

 

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 / amendment

Initial notification

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 financial instrument

Ordinary shares of 5 pence each in the Company

GG00BKY4K072

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

7.5p

28,059,272

 

d)

Aggregated information

-     Aggregated volume

-     Aggregated price

 

As above

 

e)

Date of the transaction(s)

5 September 2019

f)

Place of the transaction

Off-market

 

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)

Jamie Brownlee / Alice Gasson / Ellie Basle 

+44 (0)20 7324 5498

[email protected]

 

 


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.
 
END
 
 
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Quick facts: Kingswood Holdings Limited

Price: 20.7

Market: LSE
Market Cap: £44.9 m
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