Kingswood Holdings Limited Deferred consideration payment (0168P)

TIDMKWG

RNS Number : 0168P

Kingswood Holdings Limited

06 October 2023

KINGSWOOD HOLDINGS LIMITED

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

Deferred consideration payment

Kingswood Holdings Limited (AIM: KWG), the international, fully integrated wealth and investment management group, is pleased to announce that it has made the final deferred consideration payment of GBP1.775m relating to the acquisition of Sterling Trust Financial Consulting Limited (Sterling Trust), as announced on 25 June 2020. This represents the maximum achievable earn-out amount.

Kingswood will satisfy the consideration through the utilisation of its funding facility, as announced on 17 October 2022.

David Lawrence, Kingswood CEO, commented:

"Sterling Trust was a transformative acquisition for Kingswood when completed in June 2020 and we have been delighted at the growth it has seen as part of the Kingswood group".

For further details, please contact:

 
  Kingswood Holdings Limited               +44 (0)20 7293 0730 
  David Lawrence                            www.kingswood-group.com 
 
   finnCap Ltd (Nomad & Broker)            +44 (0)20 7220 0500 
   Simon Hicks / Abigail Kelly 
 
   GreenTarget (for Kingswood media)       +44 (0)20 7324 5498 
    Jamie Brownlee / Ellie Basle            Jamie.Brownlee@greentarget.co.uk

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October 06, 2023 12:00 ET (16:00 GMT)

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