Kingswood Holdings Limited Completion of Share Purchase Agreement (4109L)

TIDMKWG

RNS Number : 4109L

Kingswood Holdings Limited

05 September 2019

5 September 2019

KINGSWOOD HOLDINGS LIMITED

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

Completion of Share Purchase Agreement

Kingswood Holdings Limited (AIM: KWG), the integrated wealth management group, announces that, further to the announcement made on 2 July 2019, it has been notified by KPI (Nominees) Limited ("KPI") that the sale and purchase agreement (the "Agreement") with Astoria Investments (UK) Limited ("Astoria") in relation to Astoria's shares in the Company has been completed (the "Purchase").

KPI has determined that the conditions of the Agreement have now been satisfied and accordingly KPI has now purchased Astoria's holding of 28,059,272 ordinary shares of 5 pence each in the Company ("Ordinary Shares") for a price of 7.5 pence per Ordinary Share.

Following the Purchase, KPI now holds 145,054,905 Ordinary Shares in the Company, representing 66.9 per cent. of the Company's enlarged issued share capital and Astoria no longer holds any shares in the Company.

PDMR disclosures

KPI is owned by Kingswood Property Finance Limited Partnership a private investment partnership wholly owned by Gary Wilder, CEO of KWG, and Jonathan Massing, Non-Executive Deputy Chairman of KWG, and the PDMR disclosures below are made on that basis.

 
 1.   Details of the Person discharging managerial responsibilities 
       ("PDMR") / person closely associated with them ("PCA") 
 a)   Name                            Jonathan Massing 
     ------------------------------  ----------------------------------------- 
 2.   Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position / status               Non-Executive Deputy Chairman 
     ------------------------------  ----------------------------------------- 
 b)   Initial notification            Initial notification 
       / amendment 
     ------------------------------  ----------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                            Kingswood Holdings Limited 
     ------------------------------  ----------------------------------------- 
 b)   Legal Entity Identifier         213800DX97OROHY26686 
     ------------------------------  ----------------------------------------- 
 4.   Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------------- 
 a)   Description of                  Ordinary shares of 5 pence each in the 
       the financial instrument        Company 
                                       GG00BKY4K072 
     ------------------------------  ----------------------------------------- 
 b)   Nature of the transaction                    Purchase of Ordinary Shares 
     ------------------------------  ----------------------------------------- 
 c)   Price(s) and volume(s)           Price(s)   Volume(s) 
                                        7.5        28,059,272 
                                                  ----------- 
     ------------------------------  ----------------------------------------- 
 d)        Aggregated information      As above 
             *    Aggregated volume 
 
 
             *    Aggregated price 
     ------------------------------  ----------------------------------------- 
 e)   Date of the transaction(s)      5 September 2019 
     ------------------------------  ----------------------------------------- 
 f)   Place of the transaction        Off-market 
     ------------------------------  ----------------------------------------- 
 
 
 1.   Details of the Person discharging managerial responsibilities 
       ("PDMR") / person closely associated with them ("PCA") 
 a)   Name                            Gary Wilder 
     ------------------------------  ----------------------------------- 
 2.   Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position / status               CEO 
     ------------------------------  ----------------------------------- 
 b)   Initial notification            Initial notification 
       / amendment 
     ------------------------------  ----------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------- 
 a)   Name                            Kingswood Holdings Limited 
     ------------------------------  ----------------------------------- 
 b)   Legal Entity Identifier         213800DX97OROHY26686 
     ------------------------------  ----------------------------------- 
 4.   Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ------------------------------------------------------------------- 
 a)   Description of the              Ordinary shares of 5 pence each in 
       financial instrument            the Company 
                                       GG00BKY4K072 
     ------------------------------  ----------------------------------- 
 b)   Nature of the transaction       Purchase of Ordinary Shares 
     ------------------------------  ----------------------------------- 
 c)   Price(s) and volume(s)           Price(s)   Volume(s) 
                                        7.5p       28,059,272 
                                                  ----------- 
     ------------------------------  ----------------------------------- 
 d)        Aggregated information      As above 
             *    Aggregated volume 
 
 
             *    Aggregated price 
     ------------------------------  ----------------------------------- 
 e)   Date of the transaction(s)      5 September 2019 
     ------------------------------  ----------------------------------- 
 f)   Place of the transaction        Off-market 
     ------------------------------  ----------------------------------- 
 

For further details, please contact:

 
 Kingswood Holdings Limited                      [phone] 
 Gary Wilder / Patrick Goulding                  www.kingswood-group.com 
 
 finnCap Ltd (Nomad and Broker)                   [phone] 
 Scott Mathieson / Anthony Adams - Corporate 
  Finance 
  Tim Redfern / Richard Chambers - ECM 
 
 Greentarget (for media)                         [phone] 
  Jamie Brownlee / Alice Gasson / Ellie           [e-mail] 
  Basle 
 

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September 05, 2019 10:34 ET (14:34 GMT)