Shares in troubled wealth manager and Financial Planner Kingswood have been cancelled on the AIM market with effect from today as the full £48m takeover of the business by its PE owner HSQ moves to its final stages.

Private equity firm HSQ has injected a further £4.8m to support its troubled Financial Planning business Kingswood which warned recently that it may run out of money to service its £91m debt pile.

AIM-listed acquisitive wealth manager and Financial Planner Kingswood Holdings has secured a £4m debt facility with an affiliate of private equity firm HSQ Investments Limited.