6 September 2021

Mattioli Woods plc

("Mattioli Woods", "the Company" or "the Group")

Completion of Ludlow Wealth Management Acquisition

Mattioli Woods plc (AIM: MTW.L), the specialist wealth and asset management business, is pleased to announce that, following FCA approval, its acquisition of LWMG Topco Limited (the holding company of Ludlow Wealth Management Group Ltd) ("Ludlow Wealth Management"), previously announced on 26 May 2021, has now completed.

Pursuant to the terms of the Ludlow Wealth Management Acquisition, the Company has allotted 780,250 new Ordinary Shares in Mattioli Woods (the "Ludlow Wealth Management Consideration Shares") to the sellers of Ludlow Wealth Management.  Application has been made for the admission of the Ludlow Wealth Management Consideration Shares (which, when issued, will rank pari passu in all respects with the existing Ordinary Shares) to trading on AIM ("Admission"), and is expected to become effective at 8.00 a.m. on 9 September 2021.

The sellers of Ludlow Wealth Management have entered into lock-in agreements, pursuant to which the Ludlow Wealth Management Consideration Shares will be subject to a lock-in period of 12 months after the date of Admission.  Following the initial 12-month lock-in period, the relevant individuals may only dispose of up to 25 per cent of the Ludlow Wealth Management Consideration Shares in each of the two years following the first anniversary of Admission.

Total Voting Rights

Following Admission, the total number of Ordinary Shares in the Company with voting rights is expected to be 50,571,600.  Mattioli Woods does not hold any Ordinary Shares in Treasury.

The above figure of 50,571,600 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Ian Mattioli MBE, Chief Executive Officer of Mattioli Woods, said:

"We are delighted to have completed the acquisition of Ludlow Wealth Management.  The Ludlow team shares our passion for delivering exceptional client outcomes and this transaction adds to our distribution capacity, particularly in the North-West.

"Completion of this acquisition, together with the recently completed acquisitions of Maven Capital Partners and Richings Financial Management, represents meaningful steps toward our ambitious medium-term goals, extending the Group's existing investment proposition and adding scale, distribution and product to our client proposition.  These acquisitions make us better-positioned than ever to provide our clients with the proactive advice and bespoke investment solutions they require.  We are very pleased to welcome the Ludlow Wealth Management team to the Mattioli Woods Group."

Terms and definitions used in this announcement shall have the same meaning as ascribed to them in the Company's announcements dated 26 May 2021 regarding the Proposed Acquisitions and Proposed Fundraise unless otherwise stated.

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