Kingswood H. Regulatory News (KWG)

Kingswood Holdings Limited 

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

Additional Debt Facility

Update to Assets under Management & Advice

Further to the announcements of 7 May 2024 and 16 February 2024, Kingswood Holdings Limited (AIM:KWG), the international, vertically integrated wealth and investment management group, announces an additional £6.0m debt facility (the "Facility Agreement") to provide the Company with the capital required in the short term to satisfy upcoming deferred payment obligations on previous acquisitions undertaken by the Company. The headline terms of the Facility Agreement are:

- £6.0m facility;

- Repayment date of earlier of 29 October 2030 or date of an exit or partial exit; and

- Interest rate of 12%, paid at maturity.

Kingswood is entering into an additional Facility Agreement with an affiliate of HSQ INVESTMENT LIMITED. Lindsey McMurray and Duncan Gerard are Non-Executive Directors of the Company and employees of Pollen Street Capital Limited ("Pollen Street") an affiliate of HSQ INVESTMENTS LIMITED. Accordingly, entering into the Facility Agreement constitutes a related party transaction under Rule 13 of the AIM Rules for Companies.

As such, the Directors of the Company (other than Lindsey McMurray and Duncan Gerard) consider, having consulted with Cavendish Capital Market Limited, the Company's Nominated Adviser, that the terms of the Facility Agreement are fair and reasonable insofar as the Company's shareholders are concerned.

Update on Assets under Management/Advice

The first six months of the current financial year has seen an increase in AuM/A across UK & Ireland. As at 30 June 2024, total AuM/A for the UK & Ireland was approximately £9.8bn (31 December 2023: £9.4bn). The period saw outflows in the Company's Assets under Advice in the UK following the departure of some wealth advisors but the Company benefited from positive market performance and an increase in AuA in Ireland, which includes the acquisition of Baseplan in February 2024, such that the Company's UK&I AuA at 30 June 2024 was approximately £6.0bn (31 December 2023: £5.9bn). UK&I Assets under management at 30 June 2024 was approximately £3.7bn (31 December 2023: £3.5bn)

US AuA at 30 June 2024 was $3.9bn.

The Company expects to report its interim results for the period to 30 June 2024 in late September 2024.

ENDS

For further details, please contact:

About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) international fully integrated wealth management group with circa £12 billion of assets under advice and management. It services circa 19k clients from a growing network of offices across the UK with overseas offices in Ireland, South Africa and the US.

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 building on its position as a leading player in the wealth and investment management market through targeted acquisitions, creating a global business through strategic partnerships.

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (596/2014/EU) as it forms part of UK domestic law by virtue of the European Union (withdrawal) act 2018 ("MAR").