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Kingswood Holdings Ltd - London-based wealth manager - Announces that it has made the final deferred consideration payment of £1.8 million relating to the acquisition of Sterling Trust Financial Consulting Ltd, as announced on June 25, 2020. This represents the maximum achievable earn-out amount, company says. Plans to satisfy the payment through its funding facility, as announced on October 17, 2022. David Lawrence, chief executive, says: ‘Sterling Trust was a transformative acquisition for Kingswood when completed in June 2020 and we have been delighted at the growth it has seen as part of the Kingswood group’.
Current stock price: 12.00 pence
12-month change: down 49%
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