24th Feb 2021 11:41
Kingswood Holdings Ltd - London-based wealth management business - Pays second deferred consideration payment of GBP3.5 million after WFI Financial meets the required performance targets. Notes WFI Financial was acquired in September 2019 for GBP14 million. Says some of the proceeds from the issue of GBP20 million in convertible preference shares to Pollen Street Capital Ltd in December were used to make this payment.
"We are pleased with the first full year performance of WFI Financial, particularly given the challenging business conditions Covid-19 has presented. While continuing restrictions prevent us fully engaging with existing and potential clients, conditions will improve as the vaccination programme escalates, and we remain confident of the opportunity for growth this year and beyond," says Kingswood UK Chief Executive David Lawrence.
Current stock price: 24.00 pence
Year-to-date change: down 9.3%
By Zoe Wickens; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Kingswood H.