Kingswood H. Regulatory News (KWG)

16th December 2019

KINGSWOOD HOLDINGS LIMITED

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

Board Changes

Kingswood Holdings Limited (AIM: KWG), the integrated wealth management group, is pleased to announce the appointments of Lindsey McMurray and Howard Garland to the Kingswood Board as nominated representatives of HSQ Investment Limited ("Pollen Street"), the independent alternative asset investment management company. The announcement is as per the terms of the investment completed in September 2019 which saw up to £80 million committed by way of an issue of irredeemable Convertible Preference Shares to certain investors and funds managed and/or advised by Pollen Street in a hugely significant milestone for the Company.

Lindsey McMurray founded Pollen Street Capital in 2013 and is the Managing Partner as well as Chairman of the investment committee. She has been a private equity investor for more than 20 years with a focus on the Financial Services sector.

Howard Garland is a Partner of Pollen Street Capital where he focuses on investing in financial services businesses and credit opportunities with current responsibility for BIK and Deko, as well as a number of credit investments including Caledonian Finance and Sancus. Howard was previously responsible for Banca Sistema and Arrow Global.

Buzz West, Kingswood Chairman, commented: "We are delighted to welcome both Lindsey and Howard to the Board. Pollen Street are an excellent partner as we execute our shared global vision for the Group. Pollen Street's investment is a strong affirmation of the vision and growth strategy set by the Board at the beginning of the year. Their level of commitment highlights the growth potential both Kingswood and Pollen Street see in our stock and the potential to add significant value for shareholders."

Howard Garland, Partner at Pollen Street, said: "We are very pleased to be joining the Board of Kingswood. The business is well positioned to take advantage of the opportunity in the wider wealth management sector and has a clear strategy for growth. We look forward to bringing our expertise in building market leading companies to support Kingswood in the implementation of its strategy."

For further details, please contact:

About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) integrated wealth management group, with on closing of the WFI acquisition around 5,500 active clients and c. £2.5 billion of Assets under Management and Advice. It has a growing network of offices in the UK including Abingdon, Beverley, Derby, Lincoln, London, Maidstone, Sheffield and Worcester, and offices in Johannesburg, South Africa and New York, USA.

Kingswood offers a range of trusted investment solutions to its clients, which range from private individuals to some of the UK's largest universities and institutions, including investment advice and management, personal and company pensions and wealth planning. Kingswood is focused on becoming a leading player in the wealth management market through targeted acquisitions in the UK, with the ultimate goal of creating a global business through strategic partnerships. In May this year, the firm acquired a strategic stake in US-based, Manhattan Harbor Capital Inc.

About Pollen Street Capital

The Pollen Street Capital Group is an independent alternative asset investment management company focused on the financial and business services sectors, with significant experience in specialty finance. It was established in 2013 and now manages c £2.6bn gross AUM across private equity and credit strategies on behalf of investors including leading pension funds, asset managers, banks and family offices from around the world. Pollen Street Capital has a team of 70+ professionals with offices in London and New York.

Additional Information on Lindsey McMurray and Howard Garland

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies. 

Lindsey McMurray, aged 48, has been a director of the following companies during the five years preceding the date of this announcement:

Howard Ivan Garland, aged 54, has been a director of the following companies during the five years preceding the date of this announcement:

At the date of this announcement, neither Mrs McMurray nor Mr Garland have any beneficial interest in the ordinary shares of the Group. Pollen Street, a company of which Mrs McMurray and Mr Garland are both directors, holds 4,827,655 convertible preference shares in the Group.

There are no further disclosures to be made in accordance with Rule 17 and Schedule 2(g) of the AIM Rules.