Kingswood Acquisition Corp. announced the resignation of Howard Garland as a member of the Board of Directors and as member and chairman of the Audit Committee of the Board. The Board accepted his resignation.

On April 25, 2023, the Board elected Duncan Gerard as a Class III director of the Company to fill the vacancy resulting from Mr. Garland's resignation from the Board. Additionally, the Board has appointed Mr. Gerard as a member and the chairman of the Audit Committee of the Board. Mr. Gerard will serve as a member of the Board until his successor has been elected and qualified, or his earlier death, resignation, retirement, disqualification or removal.