Board Changes

RNS Number : 8974W

Kingswood Holdings Limited

16 December 2019

 

16^th December 2019

KINGSWOOD HOLDINGS LIMITED

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

Board Changes

Kingswood Holdings Limited (AIM: KWG), the integrated wealth management group, is pleased to announce the appointments of Lindsey McMurray and Howard Garland to the Kingswood Board as nominated representatives of HSQ Investment Limited ("Pollen Street"), the independent alternative asset investment management company. The announcement is as per the terms of the investment completed in September 2019 which saw up to £80 million committed by way of an issue of irredeemable Convertible Preference Shares to certain investors and funds managed and/or advised by Pollen Street in a hugely significant milestone for the Company.

Lindsey McMurray founded Pollen Street Capital in 2013 and is the Managing Partner as well as Chairman of the investment committee. She has been a private equity investor for more than 20 years with a focus on the Financial Services sector.

Howard Garland is a Partner of Pollen Street Capital where he focuses on investing in financial services businesses and credit opportunities with current responsibility for BIK and Deko, as well as a number of credit investments including Caledonian Finance and Sancus. Howard was previously responsible for Banca Sistema and Arrow Global.

Buzz West, Kingswood Chairman, commented: "We are delighted to welcome both Lindsey and Howard to the Board. Pollen Street are an excellent partner as we execute our shared global vision for the Group. Pollen Street's investment is a strong affirmation of the vision and growth strategy set by the Board at the beginning of the year.  Their level of commitment highlights the growth potential both Kingswood and Pollen Street see in our stock and the potential to add significant value for shareholders."

Howard Garland, Partner at Pollen Street, said: "We are very pleased to be joining the Board of Kingswood.  The business is well positioned to take advantage of the opportunity in the wider wealth management sector and has a clear strategy for growth. We look forward to bringing our expertise in building market leading companies to support Kingswood in the implementation of its strategy."

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) Jamie Brownlee / Alice Gasson / Ellie Basle	[phone] [e-mail]

About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) integrated wealth management group, with on closing of the WFI acquisition around 5,500 active clients and c. £2.5 billion of Assets under Management and Advice. It has a growing network of offices in the UK including Abingdon, Beverley, Derby, Lincoln, London, Maidstone, Sheffield and Worcester, and offices in Johannesburg, South Africa and New York, USA.

Kingswood offers a range of trusted investment solutions to its clients, which range from private individuals to some of the UK's largest universities and institutions, including investment advice and management, personal and company pensions and wealth planning.  Kingswood is focused on becoming a leading player in the wealth management market through targeted acquisitions in the UK, with the ultimate goal of creating a global business through strategic partnerships. In May this year, the firm acquired a strategic stake in US-based, Manhattan Harbor Capital Inc.

About Pollen Street Capital

The Pollen Street Capital Group is an independent alternative asset investment management company focused on the financial and business services sectors, with significant experience in specialty finance. It was established in 2013 and now manages c £2.6bn gross AUM across private equity and credit strategies on behalf of investors including leading pension funds, asset managers, banks and family offices from around the world.  Pollen Street Capital has a team of 70+ professionals with offices in London and New York.

Additional Information on Lindsey McMurray and Howard Garland

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies. 

Lindsey McMurray, aged 48, has been a director of the following companies during the five years preceding the date of this announcement:

Current directorships

Past directorships

Pollen Street Capital Services (UK) LLP Pollen Street Capital Limited PSC Credit Holdings LLP PSC Service Company Limited Pollen Street Capital Holdings Limited PSC Bidco Limited SOF Annex Nominees Limited SOF General Partner (UK) Limited SOF General Partner (Scotland) II Limited Special Opportunities Fund General Partner (Cayman) Limited PSC Nominee 1 Limited PSC Nominee 3 Limited PSC III GP Limited PSC III Carry GP Limited PollenUp Limited PSC3 Funding Limited Honeycomb Holdings Limited Honeycomb Finance Limited Freedom Acquisitions Limited Shawbrook Group Plc Shawbrook Bank Limited The 1st Stop Group Limited 1st Stop Holdings Limited Validis Holdings Limited Validis Group Holdings Limited Marlin Bidco Limited BIDX1 Holdings Limited BIDX1 Acquisitions Limited Cashflows Europe Limited HSQ Investment Limited Bumblebee Loans Ltd Future First Alumni Limited Villon Holdings (UK) Limited Pura Coco SL

Banca Sistema S.p.A Capitalflow Holdings Limited SOF Parent Limited Honeycomb Investment Trust plc RB Investments 2 Limited RB Investments 5 Limited RBSM (Investments) Limited RBS Special Opportunities Fund General Partner (England) Limited RBS Special Opportunities Fund General Partner (Scotland) Limited RBS Special Opportunities Fund General Partner (Scotland) II Limited RBS Special Opportunities Fund General Partner (Cayman) Limited PSC 4 Limited Warleigh Manor Management Limited AHM (Block1-3) LLP

Howard Ivan Garland, aged 54, has been a director of the following companies during the five years preceding the date of this announcement:

Current directorships	Past directorships
PSC Credit Holdings LLP HSQ Investment Pay4Later Limited Pollen Street Capital Limited Bumblebee Consumer Finance Ltd Bumblebee Loans Ltd	Fuelforce Limited

At the date of this announcement, neither Mrs McMurray nor Mr Garland have any beneficial interest in the ordinary shares of the Group. Pollen Street, a company of which Mrs McMurray and Mr Garland are both directors, holds 4,827,655 convertible preference shares in the Group.

There are no further disclosures to be made in accordance with Rule 17 and Schedule 2(g) of the AIM Rules.

 

END

 

 

BOAUOUBRKOAUAAA