Great summary of the position Kingswood is in
In effect indebted to its largest shareholder.
hxxps://citywire.com/new-model-adviser/news/kingswood-s-140m-promise-to-backers-shows-pe-has-upper-hand/a2455272#ShowComments |
I'm not sure I even understand this.
It all makes me wonder why the co is publicly listed. |
£5m per annum seems a bit steep whether or not they are successful. |
Good point |
Not just a buyer, the same buyer as KWG major shareholder.
If they buy Matioli Woods, may as well absorb this into it as well. |
Hi Davydoo. Yes I saw that at around a 33 percent premium to the share price. It is no secret that Kingswood is actively looking for a buyer, so you would expect a positive uptick. |
Seen why? Pollen Street bidding for Mattioli Woods |
At last, some positive movement. |
Sometime since we have seen an acquisition. |
See in the New Year how this is viewed |
Converting at 16.5p when the share price is 12.75p |
I was some of today's buys.
No news of selling UK business, and concerns about increasing cost of debt finance (look at recent citywire story about debt funded consolidator rival IWP) but hopefully they are gaining from market recovery and price just looks too low |
More director buying |
Good to see the director buying. |
Joerbee, the US performance is certainly a factor but the fact that there's no news on the potential sale of the UK business has to be the driving force to the share price fall IMO.They could of course be in negotiations with suitors but of course cannot say.Sooner or later though they will have to announce that they have agreed a deal or not. |
Share price is taking a pounding, is this purely down to the US performance or are there other factors in play???? |
All quiet on the potential sale of the UK business.Meeting expectations so no shocks. |
assume that wasn't bought from another large holder, unless we get an rns very soon
but either way they were happy buying £3m worth at just over 25p |
Wow! Some news on the potential of a sale coming?Someone thinks so is my best guess |
anyone seen that 10.077m trade today at 25.50 Off market transaction £3m value |
Pollen Street Capital can earn 150% of any sale proceeds as they have funded KWG.
still that gives Pollen around £105m from the £77m they have loaned them. Leaving KwG with potentially £145m, around 500% more than the market cap today. If they confirm any sale at £250m |
Have to agree the price is very poor considering a few years ago these were in the 15p - 25p area and still are |
Hi Mr E,
Sincere apologies for the delay in replying. Reference the Sunday Times Report,I can only think that this is about Pollen St Capital wanting to extract a return on their 77M investment. I think that the AUM may be a little understated, based on recent acquisitions and the valuation is rather speculative, but I guess one never knows who's out there with cash to burn.
The current share price is very disappointing given the recent results. I can only think this is due to the poor results from the US devision and perhaps some concern that the US may be further affected by the current banking crisis. |
Hi Joerbee,
Thanks for your post above
What are your thoughts of that Sunday Times report a few weeks back, when it mentioned they are looking at selling off the UK IFA co's for around £200m- with £10B AUM
Many thanks Mr E |
I think that the current price is but the market does not agree.Happy to hold. :) |
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