HW..L Regulatory News (HW.)

23 April 2018

Harwood Wealth Management Group Plc

("Harwood Wealth", "Harwood" or the "Group")

Acquisition of the assets of Plan65 LTD

Harwood Wealth Management Group (AIM: HW.), a leading UK-based financial planning and discretionary wealth management business, is pleased to announce the acquisition of the assets of Plan65 LTD ("P65"), a retirement solutions specialist based in Ascot, Berkshire (the "Acquisition"). P65 is owned by its founders, Keith Turner and Doug Rae who both plan to retire follow completion.

The purchase price for the Acquisition is £1.56 million, dependent upon performance criteria of the assets acquired. The initial cash consideration of £810,068 will be funded from Harwood's existing cash resources. Deferred consideration of £747,296, payable in two instalments, will be payable over the next 24 months, subject to adjustment based on the relevant performance criteria.

P65 has Assets under Influence of £42 million.

The Acquisition will be integrated into the Group's subsidiary, Compass Wealth Management Consultants Limited.

Peter Mann, Non-executive Chairman of Harwood Wealth Management Group, said:

"In line with our strategy to acquire IFA firms which share our values and culture, we are very pleased to have completed the asset acquisition from P65. Since its inception in 2011, Keith and Doug have built a successful business and we wish them well for their future. We look forward to continuing to provide P65's clients with continued expert advice and exceptional service."

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