Private equity firm HSQ today (25 March) confirmed its unconditional offer to buy the remaining 10% of Kingswood with the aim of completing the deal by 15 April this year.
The statement said: “The Independent Kingswood Directors are pleased to announce that the Offer Document in relation to the Offer (the “Offer Document”), containing, among other things, a letter from the Non-executive Chair of Kingswood, the full terms of the Offer, an expected timetable of principal events and details of the action to be taken by Kingswood Shareholders, has today been posted to Kingswood Shareholders.”
On 18 March 2025, Kingswood made an application to the London Stock Exchange for the cancellation of admission of the Kingswood Shares to trading on AIM.
“Since the Kingswood Shares held by HSQ already represent approximately 89.38% of the Kingswood Shares at the Last Practicable Date (i.e. not less than 75% of the voting rights attached to the Kingswood Shares), the De-Listing Application will not be subject to any minimum level of acceptance and is unconditional from the outset.
“It is anticipated that the De-Listing will take effect no earlier than 7.00 a.m. on 17 April 2025.”
The offer is unconditional from the outset.
