Westhouse Share Discussion Threads

[battlebus2] 29/11/2013 07:41

Offer by Sommers for 1p.

[battlebus2] 04/2/2013 13:00

Very shameful day for Westhouse Holdings!!

Westhouse Holdings plc (AIM:WHL), the corporate and institutional stockbroking group, announces that the resolution was duly passed at the Company's General Meeting which was held today at One Angel Court, London.

The proposed cancellation of the Ordinary Shares trading on AIM was conditional upon the approval of not less than 75 per cent. of Shareholders voting. The resolution was passed by 98 per cent. of the votes cast, representing 82 per cent. of the entire issued share capital of the Company.

As a result, the last day of trading on AIM for the Company's Ordinary Shares will be Monday 11 February 2013 with the Ordinary Shares ceasing to trade on AIM with effect from 7am on Tuesday 12 February 2013.

[meijiman] 11/1/2013 14:53

If I was a holder ,which I'm not, I would on balance hang on to await developments. Things are unlikely to get any worse in 2013 v 2012.

[battlebus2] 11/1/2013 13:59

Thanks meijiman , who knows what's down the line and certainly no point in taking a substantial loss atm.

[meijiman] 11/1/2013 09:40

this company is a basket case. Could have told you 6/12 months ago. Think you have been having a debate with yourself battlebus.Still wish you well with the holding. There is much more consolidation to come in the broking world so it may get taken over in due course.

[battlebus2] 11/1/2013 08:06

Yep total conflict, the only thing is with the current 12p to sell it makes that for me anyway impossible to sell so i will hold. Did the same with a company called Spectrum interactive and did get 11 times back after several years in shareholder darkness. So not frightened by it.Given there is also a high chance of corporate action.

[davydoo] 11/1/2013 07:53

Indeed battlebus2, I would love to hear how they put this to their clients who are paying them fees for a listing they also might not need.

[battlebus2] 11/1/2013 07:42

Not what a private shareholder wants to hear!!


Westhouse Holdings PLC Proposed Cancellation of Admission to AIM
Print
Alert
TIDMWHL

RNS Number : 3163V

Westhouse Holdings PLC

11 January 2013

11 January 2013

Westhouse Holdings plc

("Westhouse" or the "Company")

Proposed cancellation of admission to trading on AIM of the Ordinary Shares

Irrevocable undertakings received in favour from Shareholders representing 75.44%, including Directors' 9.23%

The Board of Westhouse Holdings plc has concluded, after discussion with a number of its Shareholders and advisers, that it is in the best interests of the Shareholders to cancel the admission of the Ordinary Shares of the Company to trading on the AIM Market of the London Stock Exchange.

Pursuant to Rule 41 of the AIM Rules, the Directors have notified the London Stock Exchange of the date of the proposed Cancellation.

To enable Shareholders to buy and sell Ordinary Shares, Westhouse plans to put in place a matched bargain trading facility which will operate after the publication of the annual and interim results.

The Cancellation is conditional upon the approval of not less than 75 per cent. of the votes cast by Shareholders at a General Meeting to be held on Monday, 4 February 2013.

Prior to making this announcement, the Board has sought the views of a limited number of large Shareholders regarding the Cancellation. As a result of that consultation, the Board has received irrevocable undertakings from Shareholders representing 75.44 per cent. to vote in favour of the Resolution. If the Resolution is passed at the General Meeting, it is anticipated that the Cancellation will become effective at 7:00am on Tuesday, 12 February 2013.

A notice convening the General Meeting and an accompanying letter from the Chairman ("the Circular") will be posted to Shareholders today and will be available on the Company's website. The information in this announcement has been extracted from the Circular without material adjustment.

Background and reasons for the Cancellation

2012 has been another tough year for corporate and institutional brokers as transaction and trading volumes remain at low levels and pricing remains under pressure. Against this background, the Board has successfully pursued a strategy of increasing its recurring income relative to its fixed cost base. This has been achieved in particular through the hiring of key individuals, the merger with Arbuthnot Securities Limited, a major enhancement of the research department and the establishment of a fixed income broking business.

Additionally the Board has taken a number of steps to reduce costs, in particular following the merger with Arbuthnot Securities Limited the head count has been reduced from 99 to 59. While the steps above have placed Westhouse on a sounder footing they have not, as yet, brought it to profitability.

Westhouse remains fortunate in having a supportive shareholder base that has demonstrated its commitment to 'building a broker in a bear market'. Those Shareholders have made it clear to the Company that they do not believe, in the near future, that market circumstances are likely to improve and that they would find it far easier to support the Company in the private arena to succeed in its longer term objective of becoming a profitable and vibrant business serving its corporate and institutional clients.

The trading volume in the Ordinary Shares has remained low at an average of 9,000 shares per day over the last twelve months. However, this volume was largely concentrated into several transactions which were effectively handled by the Company on a 'matched bargain' basis. The underlying liquidity in the Company's shares is extremely low and, in the opinion of the Directors, is likely to remain that way for the foreseeable future.

Admission of the shares to trading on AIM also imposes significant costs in both cash and management time on the Company and Cancellation therefore forms part of the on-going strategy of the Company to drive down costs.

Recommendation

The Directors consider that the Cancellation is in the best interests of the Company and its Shareholders as a whole and is most likely to promote the success of the Company for the benefit of its Shareholders. The Directors unanimously recommend that Shareholders vote in favour of the Resolution and will do so in respect of their own Ordinary Shares amounting to 9.23 per cent. of the Ordinary Shares in issue.

Expected timetable of events


Posting of Notice of General 11 January 2013
Meeting
--------------------------------- ---------------------------
Latest time and date for receipt 11:00am on 1 February 2013
of Forms of Proxy
--------------------------------- ---------------------------
Record date 11.00am on 1 February 2013
--------------------------------- ---------------------------
Time and date of General Meeting 11:00am on 4 February 2013
--------------------------------- ---------------------------
Last day of dealings on AIM 11 February 2013
--------------------------------- ---------------------------
Cancellation becomes effective 7:00am on 12 February 2013
--------------------------------- ---------------------------

The above times and/or dates may be subject to change and, in the event of such change, the revised times and/or dates will be notified to shareholders by an announcement through a Regulatory Information Service.

Capitalised terms used in this announcement have the same meaning as in the Circular sent to Shareholders, dated 11 January 2013.

[tara7] 02/1/2013 18:07

- 51.0 per cent. to the closing price of 51.0 pence per Offer Share on 3 July 2012, being the last business day prior to the publication of this Announcement; and

- 52.6 per cent. to the average closing price of 50.5 pence per Offer Share during the 12 months prior to 3 July 2012.

· The Offer, which is wholly in cash, values the entire issued C: £7.1M


Yet another winner.!!!

Well done.!!

[battlebus2] 02/1/2013 17:29

Will check it out, last share you and i held boomerang was a star in 2012 :))

[tara7] 02/1/2013 17:24

Might like to look at one of the companies they look after.

PTO

[battlebus2] 02/1/2013 17:18

Thanks for that Tara, no surprise to WHL bulls!

[tara7] 22/12/2012 09:43

Investors here might like to get a copy of Todays Daily Mail.

Westhouse comes out in first place [above all the other brokers.

Well done.

[warpedone] 12/12/2012 07:31

12 December 2012

Westhouse Securities Limited

Westhouse Securities appoints Finlay Thomson as specialist oil and gas salesman

Westhouse Securities Limited ("Westhouse Securities"), the corporate and institutional broking group, has appointed Finlay Thomson as a specialist oil and gas salesman on its institutional sales desk.

Finlay has worked as an oil and gas analyst and specialist salesman for 18 years, having initially trained and worked as a fund manager at Scottish Widows and Norwich Union.

Over the past ten years Finlay has held roles at Credit Lyonnais Securities, ABN Amro, Natixis, Panmure Gordon, Teathers and Canaccord Genuity, where the Oil & Gas team was ranked number 2 in the 2012 Extel Small Cap survey.

Simon Wickham, Head of Sales, said: "We are delighted to have Finlay join our institutional sales desk. He is an experienced and senior salesman with a strong oils and gas franchise and a valuable set of institutional connections."

ENDS


How is appointing a man who's had 7 jobs in 10 years a good thing?!

[battlebus2] 09/11/2012 15:42

Some small buys coming in over the last few days.

[battlebus2] 06/11/2012 15:51

Something's rocking these today :))

[battlebus2] 02/11/2012 16:13

Another little tick up :))

[battlebus2] 26/10/2012 15:35

There you go a decent tick up. Looks like they don't want buyers.

[battlebus2] 26/10/2012 14:12

bit of corporate action today and 2x 100k trades changing hands. Can't see these trading so low for long.

[battlebus2] 18/10/2012 18:24

Another director buys shares. 10K not a lot but still positive imv.

[battlebus2] 12/10/2012 08:17

And it has, spread 15/20 but imv these can head back to the 30p region.
Anyone the buyer from ADVFN boards?

[battlebus2] 11/10/2012 08:23

No tick up yet but it's surely coming with the next buy imv.

[battlebus2] 11/10/2012 07:36

Well there's where the trades went! More confidence as two directors buy more shares, surely these are heading upwards.

[battlebus2] 10/10/2012 16:32

Some large buying going on today, some news imminent :))

[battlebus2] 17/9/2012 14:39

More director buying :))