Harwood Wealth Management Group (HW.)

Sector:

Financials

Index:

FTSE AIM All-Share

 160.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 160.00
  • 52 Week Low: 115.00
  • Currency: UK Pounds
  • Shares Issued: 62.54m
  • Volume: 0
  • Market Cap: £100.07m
  • Beta: 0.13

Harwood Wealth buys adviser network for up to £4m

By Michele Maatouk

Date: Tuesday 30 Aug 2016

LONDON (ShareCast) - (ShareCast News) - Harwood Wealth Management has acquired Network Direct Limited (NDL), a national network of financial advisers based in the West Midlands, for up to £4m
The AIM-listed financial planning and discretionary wealth management group said the deal will extend its reach nationwide and is its most significant acquisition to date.

Network Direct has 107 advisers spread across England, Wales, Scotland and Northern Ireland. For the year ended 31 May 2015, it reported gross revenue before pay-aways of approximately £10.1m (unaudited) and was broadly break even.

The maximum consideration payable for the acquisition will be £4m, based on the performance of NDL over the next five years. The initial consideration of £1m has been paid from the company's existing cash resources. A further deferred consideration of up to £3m will be payable in cash over the five-year period following completion.

Chairman Peter Mann said: "We are extremely pleased to be able to announce this key strategic acquisition. We anticipate that the acquisition will enable us to further leverage our existing investment solutions to the benefit of NDL's advisers and clients, and also that it will enable us to expand our reach across the UK where there is a growing market for the delivery of quality investment management and advice.

"We welcome the NDL team and advisers to the group, and look forward to working with them to deliver fully integrated investment solutions to their clients."

NDL is being sold by its principal shareholders, Willian Wynn, Jenifer Schwartz, Brian Raymond, Richard Simon and Leslie Dennis Lee, together with various other minority shareholders.



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HW. Market Data

Currency UK Pounds
Share Price 160.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 160.00
52 Week Low 115.00
Volume 0
Shares Issued 62.54m
Market Cap £100.07m
Beta 0.13

HW. Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.61% below the market average66.61% below the market average66.61% below the market average66.61% below the market average66.61% below the market average
61.76% below the sector average61.76% below the sector average61.76% below the sector average61.76% below the sector average61.76% below the sector average
Price Trend
42.02% above the market average42.02% above the market average42.02% above the market average42.02% above the market average42.02% above the market average
49.32% above the sector average49.32% above the sector average49.32% above the sector average49.32% above the sector average49.32% above the sector average
Income
2.20% above the market average2.20% above the market average2.20% above the market average2.20% above the market average2.20% above the market average
12.2% below the sector average12.2% below the sector average12.2% below the sector average12.2% below the sector average12.2% below the sector average
Growth
97.64% above the market average97.64% above the market average97.64% above the market average97.64% above the market average97.64% above the market average
95.08% above the sector average95.08% above the sector average95.08% above the sector average95.08% above the sector average95.08% above the sector average

HW. Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Oct-19 25-Apr-19
Paid 08-Nov-19 10-May-19
Amount 1.17p 2.42p

Trades for --2019

Time Volume / Share Price
0 @ 0.000p

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