Kingswood Holdings Ltd - London-based wealth manager - Issues 3 million in convertible preference shares to funds managed or advised by Pollen Street Capital Ltd. This brings the total equity issued under its subscription facility with HSQ Investment Ltd, a wholly-owned subsidiary of funds related to Pollen Street, to GBP47.8 million of GBP80 million previously committed.
Says that the total number of irredeemable convertible preference shares held by Pollen Street has now increased to 47,828,443 shares at an issue price of GBP1 each. Adds that this was the eleventh instalment of shares issued.
"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 GBP3 million as we accelerate the next stage of our growth journey," Chief Executive Gary Wilder comments.
He adds: "We have signed four acquisitions in 2021 and have a strong pipeline of high-quality UK opportunities under negotiation, four of which are in the exclusive due diligence stage."
Current stock price: 24.00 pence
Year-to-date change: down 11%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Kingswood H. (KWG)