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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
  +0.00p +0.00% 135.00p 130.00p 140.00p 135.00p 135.00p 135.00p 0 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 32.7 2.0 1.9 70.7 88.48

Harwood Wealth Management Group PLC Acquisitions update and Notice of results

05/06/2018 7:01am

UK Regulatory (RNS & others)


Harwood Wealth (LSE:HW.)
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RNS Number : 2488Q

Harwood Wealth Management Group PLC

05 June 2018

05 June 2018

Harwood Wealth Management Group

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

Acquisitions update

and

Notice of results

Harwood Wealth Management Group (AIM: HW.), a leading UK-based financial planning and discretionary wealth management business, is pleased to announce that for the six months to 30 April 2018 the Group completed nine acquisitions for an aggregate consideration of GBP10.9m and combined Assets under Influence of GBP310m.

Of this consideration, GBP6.7m was paid at the time of the initial consideration with the balance to be paid though the Group's usual earn-out model over the subsequent two years subject to the achievement of performance criteria. These acquisitions included the larger acquisitions of AE Financial Ltd (the Group's largest acquisition to date), Plan65 Ltd and Fund Management Limited Advisers Limited, details of which were announced in March and April. The Group also paid GBP1.8m in respect of the earn-out payments for acquisitions made in prior periods which had achieved the requisite performance criteria.

The Company will report its results for the six months to 30 April 2018 on 03 July 2018.

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

"I am pleased to report that the team has managed to execute nine deals over the period, several of which were of a large scale and all of which are excellent additions to our business. The frequency with which we are managing to complete on acquisitions of stable, high-quality businesses with strong client bases demonstrates the rich pool of opportunities available to Harwood, alongside our excellent reputation for acquisition and integration. We look forward to reporting further details in our interim statement next month."

For further information please contact:

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 05, 2018 02:01 ET (06:01 GMT)

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