WH Ireland is a financial services company offering Private Wealth Management, Wealth Planning and Corporate Broking services. The Private Wealth arm provides discretionary, advisory and execution only services to individuals, corporates, trusts and funds. By offering a highly personal, bespoke service we are able to provide timely advice and create long term relationships based on trust.

Our Corporate Broking division provides Corporate Finance, Research, Market Making and Fund raising capabilities to quoted small/mid-cap companies. We offer a full NOMAD service to the majority of our corporate clients.

We firmly believe that by placing our client needs at the centre of everything we do, WH Ireland is well placed to provide timely, bespoke and helpful advice to a diverse range of clients.


http://www.wh-ireland.co.uk/

ST of IC today - The bottom line is that WH Ireland continues to look a decent recovery play in my view given the substantial asset backing, low valuation being attributed to its asset management business, potential to win more mandates, and the fact that its corporate broking division is now able to take on new clients again. Buy.

Press Speculation
RNS
RNS Number : 1355K
W.H. Ireland Group PLC
19 September 2016
 
WH Ireland Group Plc
 
("WH Ireland" or the "Company")
 
Press Speculation
The Company notes the recent press speculation and confirms it is aware that Kuwaiti European Holdings Group ("KEH") is looking to acquire a shareholding in WH Ireland.
Further announcements will be made in due course, as required.

Shareholder Update
RNS
RNS Number : 2460K
W.H. Ireland Group PLC
20 September 2016
 
                                                                WH Ireland Group plc
("WH Ireland" or the "Company")
   Shareholder Update
The Board of WH Ireland Group PLC has noted the release of the TR1, earlier today, confirming a change of shareholder in the Company. The Board welcomes the new shareholder, Kuwaiti European Holding Group ("KEH Group"), and is looking forward to working with KEH Group in order to accelerate the growth opportunities across the Company.
Commenting on the change in shareholders, Richard Killingbeck, Chief Executive Officer, said "The Board and I are very pleased to welcome our new shareholder in WH Ireland. KEH Group has an exciting plan for growth within its existing financial services companies in the Gulf states and the UK. WH Ireland expects to be able to help support this growth from both of its divisions and to benefit from the financial resources within KEH Group

Sale of Freehold Property in Manchester

RNS


RNS Number : 8863U

W.H. Ireland Group PLC

24 January 2017




WH Ireland Group Plc

("WH Ireland" or the "Company")

Sale of Freehold Property in Manchester

The Company confirms that it has, through its wholly owned subsidiary Readycount Limited, disposed of its freehold property at 11 St James`s Square, Manchester (the "Property") to Beech Developments (Manchester) Limited ("Beech Developments") for £5.27 million, in cash. The sale proceeds represent a premium to the carrying book value of £4.75 million.

At the same time, the Company has entered into a lease with Beech Developments, pursuant to which the employees of the Company's Manchester office will remain in the Property for at least a further five months, and thereafter will move to another leased property in Central Manchester.

The Company will use the sale proceeds for general corporate purposes.

Commenting on the transaction, Chief Executive Officer, Richard Killingbeck said:

"We are pleased to be able to report a further successful element of the transformation programme at WH Ireland. The proceeds of this sale will bring greater flexibility to the business in the future as we look to continue to refocus and invest in both divisions of the Company. Our Manchester presence in the future will be enhanced by a new central office location focused upon the provision of our Private Wealth Management and Wealth Planning services and the majority of our new middle office team. This move to a new office, once completed in the summer of 2017, will reinforce our commitment to both Manchester and the North West ".

Proactive investor - WH Ireland expects significant upturn in first-half results; assets under management above £3bln
Share
11:18 21 Jun 2017
The financial services firm said strong client demand had boosted its performance

" First half figures will show a significant improvement on those for the previous year."
Financial services firm WH Ireland PLC (LON:WHI) said today that it expects a significant improvement in its financial results for the first half of 2017, lifted by strong performances in both its corporate and institutional broking divisions which were in turn boosted by an upturn client demand dating back to last year.
"The first half figures will show a significant improvement on those for the previous year," the firm said in a trading update. 



"Our pipeline of new business is at the highest that it has been for several years reflecting not just an increased appetite for new issuance by existing clients, but also the result of new growth initiatives within the division beginning to contribute to revenue," it added. 
The firm's private wealth management division continued to progress and its wealth planning business had a particularly strong first half, the firm said, adding that its assets under management had risen above £3bln with its discretionary fund management service remaining its fastest growing area. 
 
Looking further ahead, the firm's board remains "cautiously optimistic" despite the obvious headwinds around both UK politics and the economy, it added.
The firm also said its accounting reference date will to 31 March from 30 November with immediate effect. It expects to release its financial reports for the six months ending May on or around 24 July and  a second set of  results for the six months ending November 2017 by the end of January 2018. The firm's final results for the 16 month period ending March 2018 are due by the end of June 2018.

Agreement
RNS
RNS Number : 8562T
W.H. Ireland Group PLC
17 October 2017
 
WH Ireland Group plc
("WH Ireland" or the "Company")
 
Agreement
 
The Company confirms today it has entered into an agreement with Polygon Global Partners LLP ("Polygon") stating that, whilst Polygon hold more than 20% of the issued share capital in the Company, WH Ireland will not issue any new equity or new options without Polygon consent. Such consent will be subject to the Company having sufficient and relevant shareholder authorities to issue equity under the Companies Act 2006 from shareholders in a general meeting. 
 

Better late then never


Interim Results - Replacement
RNS
RNS Number : 1602D
W.H. Ireland Group PLC
29 January 2018


The 'Interim Results' announcement released at 07:00 under RNS No 1124D, should have been issued under the Company name of W.H. Ireland Group PLC and not under the Company name of WH Ireland Investment Management.
The announcement text is unchanged and is reproduced in full below.


RNS Announcement: The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.


WH Ireland Group plc

("WH Ireland" or the "Company")
Interim Results for the 12 Months ended 30 November 2017
· Group revenue increased by 12.3% to £28.6m;
· Operating profit before exceptional items: £0.4m;
· Corporate & Institutional Broking revenue increased by 32% to £10m;
· Private Wealth Management discretionary assets increased by 10.7% to £1,125m; and
· Total Group recurring revenue increased to £13.2m (46% of total revenue).
Chairman's statement
The past 12 months were challenging but ultimately beneficial to the creation of the modern, advice driven financial services company that we are confident will further enhance our offering to our clients. At the beginning of the year we announced the successful sale of our freehold premises in Manchester, we have moved our retail operational platform to SEI and consolidated our institutional platform on Pershing. These actions, whilst not without their initial issues, have created a more robust control environment for the Company to proceed confidently to growing both business divisions.

Regulatory change and its impact is disproportionately felt by smaller companies such as ourselves. We can report that thorough MiFID ii preparation was undertaken during 2017, involving all disciplines across the Company, resulting in both businesses being very well prepared for the 3 January 2018 MiFID ii implementation. The Corporate and Institutional Broking division has received many plaudits from our clients for their clear and concise interpretation of the research distribution rules, which has led to a growing and encouraging number of corporate client enquiries. It is too early to evaluate the impact of MiFID ii upon the division but we are alert to the potential opportunities that may present themselves as a result of this change.

The Private Wealth Management division has achieved much during the past 12 months, although the integration to our new operational platform has created some delays (and extra cost) in our development plans for this division. The major issues are now behind us and we are moving swiftly ahead with our margin improvement programme. To this end, we are introducing a range of model portfolios which will be an appropriate proposition for a number of our smaller clients.

Moving to a consistently profitable Company is the key focus of the senior management team for 2018. To aid this move, members of both business divisions have agreed to contractual changes in their remuneration structure which focusses upon profitability, compliance and culture rather than purely revenue. In addition, we expect a considerable reduction in overall costs in 2018 due to the number and quantum of non-recurring and exceptional costs borne in 2017. The combination of these factors will form the base from which your Company can assuredly move forward in the years ahead.

Finally, I would like to thank all of our staff who have worked extremely hard during 2017 in order for the Company to be in a position to progress confidently and profitably in the future. Whether it be via organic or acquisitive growth, the focus of all in the Company is now very much on upon achieving real growth in both business divisions.



Chief Executive Officer's report
As the Chairman has stated, 2017 was a challenging, yet necessary year in regard to the evolution of the Company. As a direct result of actions taken last year the Company is debt free, had cash balances as of 30 November 2017 of £10.5m, and has a company-wide remuneration structure which aligns all parties to the development of a profitable business. These are all major achievements in their own right, yet they have been achieved during a period when we undertook an essential platform change and prepared and implemented significant regulatory change ahead of MiFID ii.

Both divisions have clear business plans to execute during the next three years. The provision of advice, whether it be to our corporate and institutional clients or our private wealth clients, remains at the core of our business model and a number of growth initiatives are in place across the Company to help broaden our client base. The Corporate and Institutional Broking business has established The Investor Forum, where private companies are introduced to potential professional investors, and in the Private Wealth Management division we are launching internally a 'Navigator' range of model portfolios to complement our bespoke discretionary and advisory portfolio service. An external launch will follow in due course. Both initiatives are examples of how we are bringing enhancements to our client focused proposition.

The reorganisation of last year resulted in exceptional costs being incurred primarily within the Private Wealth Management division. These costs will fall away during 2018 and when combined with further cost reduction initiatives and specific organisational change, confidence builds as to the future profitability profile of not just the Private Wealth Management division but also the Group.

We announced last year that we are changing our year end reporting date to 31 March to help bring us into line with our competitors. As a result of the elimination of duplication of costs, the identification of further specific cost reductions and margin improvement within the Private Wealth Management division we expect to be able to report a significant improvement in profitability for the year to March 2019. Further guidance will be given after the end of the current extended financial period.

Shareholder Update, Placing and Notice of GM
RNS
RNS Number : 4065B
W.H. Ireland Group PLC
20 September 2018

RNS Announcement: The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

WH Ireland Group Plc

("WH Ireland" or the "Company")

Shareholder Update
Placing of new Ordinary Shares
Notice of General Meeting

Shareholder Update
The Board of WH Ireland has noted the release of the TR1s confirming a change of shareholdings in the Company.
Mr Abdulaziz Al-Bader; Mr Waleed Al-Thaqeb and Mr Thamer Al-Wazzan have confirmed they have sold their entire holdings in WH Ireland and accordingly no longer hold any shares in WH Ireland.
At the same time, Oceanwood Capital Management Limited has notified the Company that it has acquired 2,300,000 Ordinary Shares in the Company, increasing its total holding to 7,634,214 Ordinary Shares (representing 25.56% of the issued share capital of the Company); Polygon Global Partners Limited has notified the Company that it has acquired 500,000 Ordinary Shares in the Company increasing its total holding to 8,762,126 Ordinary Shares (representing 29.33% of the issued share capital of the Company) and M&G Investments Limited has notified the Company it has acquired 3,725,079 Ordinary Shares in the Company, being its first holding in the Company (representing 12.47% of the issued share capital of the Company).
Placing of new Ordinary Shares
The Company is also pleased to announce that it has conditionally raised £2,000,000 from the issue of 2,000,000 new ordinary shares of 5p each ("New Ordinary Shares") at a price of 100p per share (the "Placing").
Background to and Reasons for the Placing
Following a broad review of the Group's likely future regulatory capital requirements and in particular, the Group's regulatory capital planning buffers, the directors believe that the Placing, in addition to the existing ongoing corporate activities of the Company, will ensure that the Group has sufficient resources in place to satisfy the FCA's present capital adequacy requirements.
In addition, completion of the Placing would increase the Group's core tier 1 capital ratio, which is a key measure of the Group's financial stability and strength for market regulators and investors.
The Directors believe that the Placing is the most cost effective and certain method to raise funds at this time, avoiding the significant costs and uncertainty associated with a public offering requiring a prospectus.
Placing Participants
As part of the Placing, Oceanwood Capital Management Limited has conditionally subscribed for 600,000 New Ordinary Shares, which, if approved by shareholders would increase its total holding to approximately 8,234,214 Ordinary Shares representing 25.84% of the Company's then Enlarged Share Capital; Polygon Global Partners Limited has conditionally subscribed for 600,000 New Ordinary Shares, which would increase its total holding to 9,362,126* Ordinary Shares representing 29.37% of the Company's then Enlarged Share Capital; and M&G Investments has conditionally subscribed for 800,000 New Ordinary Shares which would increase its total holding to approximately 4,525,079 Ordinary Shares representing 14.20% of the Company's then Enlarged Share Capital.
Commenting on the Placing, Tim Steel, Chairman of WH Ireland said "We greatly appreciate the support of our major shareholders Polygon and Oceanwood and we welcome our new institutional shareholder M&G to the Company. We look forward to a strong partnership with all our shareholders as we develop the business going forward."
*in addition, Polygon has a contract for difference in respect of 110,278 Ordinary Shares and accordingly following the issue of the Placing Shares, at Admission would be interested in, or hold exposure to, 9,472,404 voting rights in the Company (being 29.72% of the total voting rights) on the assumption that no further shares are issued other than the Placing Shares and assuming the contract for difference remains in place.
Additional Details
The Placing is conditional, amongst other things, on:
• the passing of the resolutions to be proposed at the Company's general meeting referred to below; and

• Admission of the New Ordinary Shares becoming effective by no later than 8.00 a.m. on 10 October 2018 (or such later time and/ or date as the Company may specify by an announcement to a Regulatory Information Service, being no later than 5.30 p.m. on 30 October 2018).

The Placing is not being underwritten and the New Ordinary Shares are not being made available to the public.
Application will be made to London Stock Exchange plc for the New Ordinary Shares to be admitted to trading on AIM. Subject to the satisfaction of the conditions referred to above, it is expected that admission will be effective, and dealings in the New Ordinary Shares will commence, at 8.00 a.m. on 10 October 2018.
The New Ordinary Shares will, when issued, rank pari passu in all respects with each other and with the existing ordinary shares in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid in respect of the ordinary shares after the date of issue of the New Ordinary Shares.
Current Trading and Outlook
The Company announced a current trading update on 19 July 2018, as part of its Final Results for the 16 months ended 31 March 2018, which includes the following:
· Market activity was subdued in the extra four months from November 2017 to March 2018 impacting the Corporate and Institutional Broking (CIB) division.

· The Wealth Management (WM) division has benefited from higher market levels but it has borne higher costs than anticipated. These costs primarily relate to the outsourcing of our custody and operational functions and legacy issues which have taken longer to resolve than anticipated. This represents the final element of the investment in transformational change within the WM division and will result in a significant decline in these costs within this new financial year.

· In the new financial year that started on 1 April 2018, both divisions have witnessed better trading conditions and are beginning to see the benefits of all the changes that have been made to the business in the last few years.

· The CIB division has undertaken a number of transactions for corporate clients and we have begun to see the positive impact of the wider cost reduction and revenue enhancement programmes within the WM division; and

· Fee income (CIB retainers, WM management and advice fees) is now running at approximately £1.3 million a month, representing nearly 55% of our total monthly revenue. This is the highest ratio of fees to total revenue ever achieved by the business and is most encouraging for the progression of WH Ireland in the future.

Related Party Transactions
As Polygon and Oceanwood are substantial shareholders in the Company, this transaction is considered to be a related party transaction under the AIM Rules for Companies. The directors of the Company having consulted with the Company's Nominated Adviser, SPARK Advisory Partners Limited, consider that the terms of the transaction are fair and reasonable insofar as the shareholders are concerned.
Notice of General Meeting
The Company also confirms that today it has dispatched a notice of general meeting to convene a meeting of shareholders at 24 Martin Lane, London EC4R 0DR at 10.00 a.m. on 9 October 2018 for the purpose of considering and, if thought fit, passing certain resolutions to give effect to the Placing.