Kingswood Holdings Ltd - London-based wealth and investment management company - Announces new GBP8.0 million unsecured debt facility with funds managed by Pollen Street Capital Ltd, an alternative investment management firm with offices in New York and London. The facility has an expiry date of October 17, 2030, and an interest rate of 12% to be paid at maturity. Kingswood says that the facility will be used to support its working capital requirements and "growth agenda".
Chief Executive Officer David Lawrence says: "Since their first investment in Kingswood in 2019, Pollen Street have been a great partner to the company and this additional investment demonstrates a further positive commitment towards our ambition to build a leading business in the sector."
Current stock price: 10.02 pence per share, down 4.6% in London on Friday afternoon.
12-month change: down 61%
By Hugh Cameron, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Kingswood H. (KWG)