IN BRIEF: Kingswood Holdings reveals buy offers as financials worsen
Kingswood Holdings Ltd - London-based wealth and investment management company - Says it is in advanced discussions with HSQ Investments Ltd regarding a possible cash acquisition at 7 pence per share. HSQ currently holds 68.4 per cent of Kingswood's voting rights and have reiterated their support for the Company. HSQ initially invested in Kingswood in September 2019, providing up to GBP80m of growth equity capital to the business. Company comments: "HSQ has confirmed that they continue to be supportive of the business but believe that this is most appropriate from a position as sole institutional shareholder alongside the company moving to an unlisted, private company setting and therefore they have stated that they would be willing to provide the required near-term funding only on this basis. The Kingswood Independent Directors are strongly of the view that there is no other near term credible alternative to the company other than the continued financial support from HSQ." Read More