Kingswood continues to explore funding options for ?100m pipeline
By Iain Gilbert
Date: Tuesday 25 Jun 2019
(Sharecast News) - Wealth management group Kingswood Holdings updated investors on its acquisition pipeline on Tuesday as it continues to explore opportunities to source additional funding to support its execution.
With an acquisition pipeline in excess of £100m, Kingswood confirmed that it had agreed on non-binding heads of terms with a provider of substantial permanent growth capital with regards to a potential equity investment in the form of convertible preference shares.
Kingswood told shareholders the injection of capital would be consistent with its stated strategy of pursuing accretive acquisitions across the UK and internationally, a number of which were in advanced stages of negotiation with due diligence being undertaken.
The AIM-listed group expects to make further announcements as and when it was "appropriate to do so" and stressed that any such investment would be subject to the requisite regulatory and shareholder approvals.
As of 0915 BST, Kingswood shares had shot up 11.84% to 8.50p.
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