Kingswood makes second deferred payment for Admiral Wealth

Wealth and investment management group Kingswood Holdings announced a deferred consideration payment for Admiral Wealth, it announced on Friday.

The AIM-traded firm said it had made its second year-one deferred consideration payment of £0.5m.

It first announced the acquisition of Admiral Wealth Management on 18 August last year.

“A portion of the cash proceeds from Kingswood's new funding facility, announced on 17 October, have been used to make this deferred consideration payment,” the board said in its statement.

At 1040 GMT, shares in Kingwood Holdings were down 1.47% at 20.1p.

Reporting by Josh White for Sharecast.com.