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LONDON - HSQ Investment Limited has announced that it now holds approximately 99.27% of Kingswood Holdings Limited’s existing share capital, following the latest count of valid acceptances for its unconditional cash offer. As of 3:00 p.m. on Sunday, HSQ had received valid acceptances for 67,822,880 Kingswood shares, which represents about 9.88% of the issued share capital of Kingswood. This is in addition to HSQ’s pre-offer holdings, which accounted for 89.39% of Kingswood’s issued share capital.
The offer, made on March 18, 2025, at 7 pence per ordinary share, is not contingent on any minimum level of acceptances. Consequently, the offer remains unconditional. Kingswood shares were removed from trading on the London Stock Exchange (LON:LSEG)’s AIM as of April 17, 2025, following the cancellation of their admission to trading on the market. This cancellation has significantly reduced the liquidity and marketability of Kingswood shares.
Kingswood’s Independent (LON:IOG) Directors have recommended that all remaining shareholders accept the offer, which continues to be open until HSQ announces a closing date. Shareholders will receive at least 14 days’ notice before the offer closes. Acceptance procedures for both certificated and uncertificated shares are detailed in the offer document, available on both HSQ’s and Kingswood’s websites.
Those who accepted the offer by April 15, 2025, will receive payment by April 29, 2025. Acceptances received after this date will be processed within 14 calendar days of receipt. Shareholders with inquiries regarding the offer can contact the shareholder helpline operated by MUFG Corporate Markets.
This announcement is based on a press release statement and provides shareholders with the latest information on the progression of HSQ’s acquisition of Kingswood.
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