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(Alliance News) - Wealth manager Kingswood Holdings Ltd on Tuesday said it has agreed a potential funding arrangement as it looks to pursue a number of opportunities.
Kingswood said that, as previously announced, it has an acquisition pipeline in excess of GBP100 million and the company has continued to explore additional funding to support the execution of these opportunities.
Kingswood said it has agreed non-binding heads of terms with a provider of "substantial" permanent growth capital for a potential equity investment in the form of convertible preference shares. The company is now undertaking "extensive" due diligence.
"This injection of capital would be consistent with the group's stated strategy of pursuing accretive acquisitions across the UK and internationally, a number of which are in advanced stages of negotiation with due diligence being undertaken," the company said.
Shares in Kingswood were untraded in London at 7.60 pence on Tuesday.
