23rd Aug 2019 09:48
(Alliance News) - Kingswood Holdings Ltd on Friday said it has received a lender conversion notice on its term loan facility with KPI Nominees Ltd.
The wealth management firm said KPI has opted to convert GBP1.7 million of the loan into shares at a price of 8.163 pence per share with a total 21.1 million shares to be issued, taking Kingswood's issue shares to 199.4 million.
Following conversion, KPI's stake in Kingswood will be 49.89% or 99.5 million shares.
KPI is owned by Kingswood Property Finance Ltd Partnership, a private investment parnership which is wholly owned by Kingswood Chief Executive Gary Wilder and Kingswood Non-Executive Deputy Chair Jonathan Massing.
Shares in Kingswood were untraded at 8.00 pence on Friday morning.
Related Shares:
Kingswood H.