Hichens Harrison Share Discussion Threads

[czar] 09/10/2007 07:43

Interesting. A deal with HICH and WHI would make sense and create a powerful player but my money is on bigger predators in the sector that will take out WHI, HICH and DAN. All three look seriously undervalued and the shares of HICH and DAN have come back 25% on the silly panic about subprime. HICH delivered a stonking set of half year numbers which exceeded last years full year, growth is running at over 100%. I fancy DAN will also deliver strong interims soon after last years debacle thanks to those insane Yanks giving all the listed gaming companies to the mob for free!

[big fat mama] 08/10/2007 18:37

Oldest broker covets Ireland

Chris Barry

8/10/2007


THE City of London's oldest stockbroker is believed to be the leading suitor for Manchester broker WH Ireland.

Sources believe Hichens, Harrison & Co, which was founded in around 1803, will see Ireland as a `perfect fit' with its business.

The source, a close watcher of the sector, said: "I'm sure the bid will come in at around 200p per share, maybe 10p or 20p more, if there is a lot of interest in it.

"It's well run and is an attractive play. The building in Manchester must be worth £8m to £9m, and it's got around £12m of cash, too."

A 200p per share bid for St James's Court-based Ireland would value the company at £32.48m.

A spokesman for Hichens, Harrison and Co, which has a market value of just over £50m, said it had `no comment' to make.

Like WH Ireland, which has branched out from its core broking business to offer corporate finance and investment management, Hichens, Harrison and Co has expanded into new areas in recent years.

Niche

Both firms have international operations.

WH Ireland is particularly strong in Australia, where it has developed a niche business floating mining companies on AIM.

Hichens has offices in Argentina, Dubai, Indonesia, Malaysia and South Africa.

Shares in WH Ireland rose 10 per cent on Friday to 190p, after the company revealed it had received a number of approaches which could lead to a bid.

It is the second time in the past three years that it has been in a takeover situation.

The biggest individual shareholders are chief executive Laurie Beevers, who owns 15 per cent, and managing director David Youngman, who holds 14 per cent.

In July, Ireland posted a strong set of half-year figures, with turnover in the six months to May 31 up 35 per cent to £21.5m, and profits leaping 58 per cent to a record £3.69m.

[czar] 05/10/2007 10:09

Several approaches for WH Ireland, will HICH be next, bid would have to be around £5 to stand any chance.

[czar] 04/10/2007 07:50

i think these shares are heading for a big rise soon.

[giddygoat] 29/9/2007 01:57

I get unsettled easy so I switched to teabags

[mad joe] 28/9/2007 10:40

numerous reasons

[gco1133a] 28/9/2007 10:26

Any particular reason or did the tea leaves unsettle you this morning?

[mad joe] 28/9/2007 10:22

i think these shares are heading for a big fall soon