Related Party Transactions

RNS Number : 7016I

Kingswood Holdings Limited

15 December 2020

 

15^th December 2020

Kingswood Holdings Limited

Related Party Transactions

Kingswood Holdings Limited (AIM: KWG), announces that during the course of 2020 it entered into a small number of transactions with Kingswood LLP, totalling £116,000. Kingswood LLP provided financial due diligence, accounting support, and payroll related services to Kingswood Holdings Limited.

As Kingswood LLP is majority owned by Jonathan Massing, who is a director of Kingswood Holdings Limited, these transactions represent related party transactions under Rule 13 of the AIM Rules. Gary Wilder is also both a member of the Kingswood LLP partnership, and a director of Kingswood Holdings Limited.

The independent directors of the Company, having consulted with Peel Hunt LLP in its capacity as the Company's nominated adviser for the purposes of the AIM Rules, consider the terms of this transactions to be fair and reasonable insofar as the Company's shareholders are concerned.

Independent directors in relation to the matter are all of the directors of the Company except for Jonathan Massing and Gary Wilder, who are not considered independent because of their interest in Kingswood LLP.

For further details, please contact:

Kingswood Holdings Limited	[phone]
Patrick Goulding	www.kingswood-group.com
Peel Hunt LLP (Nomad and Broker)	[phone]
James Britton / Rishi Shah
Greentarget (for Kingswood media) Jamie Brownlee / Alice Gasson / Ellie Basle	[phone] [e-mail]

 About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) international fully integrated wealth management group, with around 16,000 active clients and circa 5.6 billion of Assets under Advice and Management. It has a growing network of offices in the UK including Abingdon, Beverley, Darlington, Derby, Egham, Grimsby, Hull, Lincoln, London, Maidstone, Newcastle, Sheffield (2), Worcester and York with offices in Johannesburg, South Africa and Atlanta, New York and San Diego in US.

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 and investment management market through targeted acquisitions in the UK and US, creating a global business through strategic partnerships.

 

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