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Share Name Share Symbol Market Type Share ISIN Share Description
Harwood Wealth LSE:HW. London Ordinary Share GB00BYYWB172 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.00p -2.22% 132.00p 127.00p 137.00p 132.00p 132.00p 132.00p 0 07:35:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 32.7 2.0 1.9 69.1 86.52

Harwood Wealth Management Group PLC Acquisition of the assets of Plan65 LTD

23/04/2018 7:01am

RNS Non-Regulatory


TIDMHW.

Harwood Wealth Management Group PLC

23 April 2018

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 GBP1.56 million, dependent upon performance criteria of the assets acquired. The initial cash consideration of GBP810,068 will be funded from Harwood's existing cash resources. Deferred consideration of GBP747,296, 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 GBP42 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."

For further information please contact:

 
 Harwood Wealth Management Group plc 
  Alan Durrant, Chief Executive Officer    +44 (0)23 9355 2004 
 N+1 Singer Advisory LLP 
  Alex Price                               +44 (0)20 7496 3000 
 Alma PR 
  Josh Royston / Rebecca Sanders-Hewett 
  / Susie Hudson                           +44 (0)20 8004 4218 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 23, 2018 02:01 ET (06:01 GMT)

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