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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kingswood Holdings Limited | LSE:KWG | London | Ordinary Share | GG00BKY4K072 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.25 | 10.50 | 12.00 | 11.25 | 11.25 | 11.25 | 2,020 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investment Advice | 146M | -7.8M | -0.0359 | -3.13 | 24.4M |
TIDMKWG
RNS Number : 9772F
Kingswood Holdings Limited
18 July 2019
KINGSWOOD HOLDINGS LIMITED
("KWG", the "Company" or the "Group")
Draw Down, Conversion Notice and Issue of Equity
Kingswood Holdings Limited (AIM: KWG), the integrated wealth management group, announces a GBP750,000 draw down by the Company on 17 July 2019 and the subsequent receipt on the same day of a lender conversion notice ("Conversion Notice") in respect of the GBP750,000 convertible term loan facility by KPI (Nominees) Limited ("KPI") (the "Convertible Facilities").
The GBP750,000 Convertible Facilities will convert into ordinary shares of 5 pence each ("Ordinary Shares") at a price of 7.845 pence, being the average mid-market closing price of the Company's Ordinary Shares for the 20 Business Days prior to the date on which the Conversion Notice was served (the "Conversion").
As a result of this exercise, a total of 9,560,229 Ordinary Shares will be issued pursuant to the Conversion (the "Conversion Shares").
Following the Conversion, KPI will hold 78,353,253 Ordinary Shares in the Company, representing 43.95 per cent of the Company's enlarged issued share capital.
Admission and Total Voting Rights
Application will be made to the London Stock Exchange for the Conversion Shares to be admitted to trading on AIM ("Admission"). The Conversion Shares will rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions declared, made or paid in respect of the Ordinary Shares following Admission. It is expected that Admission will become effective, and that dealings on AIM will commence, at 8.00 a.m. on 25 July 2019.
Following Admission the Company will have 178,278,339 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares with voting rights in the Company will be 178,278,339. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
PDMR disclosures
KPI is owned by Kingswood Property Finance Limited Partnership ("KPFLP"), 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 Conversion of existing convertible term loan facility into ordinary shares of 5 pence each ------------------------------ ----------------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) 7.845p 4,780,114 ---------- ------------------------------ ----------------------------------------------------- d) Aggregated information As above * Aggregated volume * Aggregated price ------------------------------ ----------------------------------------------------- e) Date of the transaction(s) 17 July 2019 ------------------------------ ----------------------------------------------------- f) Place of the transaction Outside trading venue ------------------------------ ----------------------------------------------------- 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 Conversion of existing convertible term loan facility into ordinary shares of 5 pence each ------------------------------ ----------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) 7.845p 4,780,115 ---------- ------------------------------ ----------------------------------------- d) Aggregated information As above * Aggregated volume * Aggregated price ------------------------------ ----------------------------------------- e) Date of the transaction(s) 17 July 2019 ------------------------------ ----------------------------------------- f) Place of the transaction Outside trading venue ------------------------------ -----------------------------------------
For further details, please contact:
Kingswood Holdings Limited +44 (0)20 7293 0730 Gary Wilder / Patrick Goulding www.kingswood-group.com finnCap Ltd (Nomad and Broker) +44 (0)20 7220 0500 Scott Mathieson / Anthony Adams-Corporate Finance Tim Redfern / Richard Chambers - ECM Greentarget (for media) +44 (0)20 7324 5498 Jamie Brownlee / Alice Gasson / Ellie Basle Jamie.Brownlee@greentarget.co.uk
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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(END) Dow Jones Newswires
July 18, 2019 05:01 ET (09:01 GMT)
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