W.h. Ireland Share Discussion Threads

[gowermonkey] 28/5/2009 07:59

No One with any sense .......and Man utd Lost as well . A bad day for the Manchester bunch .

[yohoho] 22/5/2009 17:33

And Beaver and Youngman have sold down today. But who is buying?

[yohoho] 19/5/2009 16:53

the plot thickens. Looks like Evolve's stake has just changed hands......

[chrisdgb] 18/5/2009 10:31

someone just paid 75p for stock......going to get squeezy here..

[chrisdgb] 15/5/2009 11:36

Citywire article today........what price the bid???

Split leaves WH Ireland vulnerable to Blue Oar bid

The failure of the new leadership at WH Ireland to grow the business over the past 12 months has left the firm vulnerable to a hostile takeover from former bid target Blue Oar Securities, according to shareholders.

A major shareholder has told Citywire Wealth Manager he is unhappy with the firm's inability to complete the buy of Blue Oar, which it described as a 'perfect fit'.

In a statement accompanying the publication of its full-year numbers last year, Blue Oar – which is re-branding to Astaire – said it was in a position to use some of its £13.6 million surplus cash for 'opportunistic' acquisitions.

WH Ireland has struggled over the past 12 months. A 24% fall in turnover contributed to a loss of £4 million in 2008, compared with a profit of £3.9 million in the previous year.

One of the leading shareholders, who wished to remain anonymous, said: 'WH Ireland could be vulnerable to a bid from Blue Oar. They are an ideal fit, with Blue Oar having the cash and WH Ireland having the infrastructure.'

A hostile bid would mark a remarkable turn of events in the saga. Blue Oar bid for WH Ireland at the start of 2008 but subsequently dropped its bid in May of that year.

This paved the way for former Conservative Party Treasurer Lord Marland to lead a consortium of high profile investors, including former Southampton Football club chairman Rupert Lowe, to buy a 25% stake in the firm and install Richard Ford as the new chief executive.

Lowe – who has seen his £800,000 investment in the firm halve in the downturn – and Ford outlined their ambition to grow the business, which highlighted a concerted push into wealth management.

The plans were welcomed by existing board members but the failure to seal a deal for Singer & Friedlander when it was put on the market for a cut price by stricken Icelandic bank Kaupthing is said to have caused friction in the boardroom.

The firm then targeted Blue Oar, which owns Bristol-based Rowan Dartington, but the planned £16.2 million takeover collapsed at the last minute in March.

In the following days Laurie Beevers and David Youngman, who have worked together since the 1970s and have been with the firm since 1995, indicated they would vote against his and chairman Lowe's re-election, which led to their suspension from the firm.

Beevers and Youngman subsequently sold a third of their stake in the firm to Blue Oar owner Evolve, reducing their joint holding to about 10%. WH Ireland said the sale was made without its consent and provided further evidence of their 'gross misconduct'.

[chrisdgb] 15/5/2009 10:08

going much higher I think..

[yohoho] 15/5/2009 09:26

CEO buys stock = no approach (yet)

[joe_the_bummer] 14/5/2009 13:08

What happens next ?
Closer involvement with GAM = get out of the sort of churn and burn stuff they ve been doing.Round up as many clients up into funded products as possible getting your brokers to do this for you .These guys then are surplus to requirements . Send your unpopular axe man around the offices to sack them.Get rid of back office.Then sack the axeman .Sell up and move on.

[joe_the_bummer] 06/5/2009 13:11

"suspended on charges of GROSS misconduct " - Time the FSA took a closer look too.


Two down ,two to go

[chrisdgb] 01/5/2009 14:36

any ideas what price a bid??

[chrisdgb] 01/5/2009 14:12

Evolve buys stake, reserves right to make offer....!!

[petlover] 24/4/2009 13:56

why did directors get sacked?

[joe_the_bummer] 24/4/2009 13:52

Further to my post 82 above were management reading what I wrote ? They now will surely sack Beevers and Youngman.

Suspended on unanamous vote ie . Frame and Lee two guys Beevers supported all the way through voted against them . What loyalty !!!!

Well Mr Beevers, what goes around comes around . Serves you right.

Next ,management should axe Frame then job done !!!!

I cant wait !!!!

[scotswhaehae] 24/4/2009 08:22

fascinating stuff

were the two directors trying to find a buyer?

shame really...WHI had it all during the boom but held its full flush hand into the recession and commodity crash...indeed it increased exposure via its australian acquisition

dyor

[jammytass] 24/4/2009 07:35

get out early this will crash today!!!!!!!

[sinwave] 04/4/2009 02:07

Rupert Lowe strikes again.

[westcoastrich] 28/3/2009 10:50

The auditor's report for the period ended 30 November
2008 includes an emphasis of matter paragraph describing a material uncertainty concerning the ability of the Group
continuing to operate within its regulatory capital requirements which may cast significant doubt about the ability of
the Group to continue as a going concern.

[gowermonkey] 26/3/2009 22:13

The company is finnished - the city know it ,now you know it sell sell sell

[joe_the_bummer] 26/3/2009 12:00

Statutory accounts

The financial information set out herein does not constitute the company's statutory accounts for the years ended 30
November 2008 or 2007 but is derived from the accounts for the year ended 30 November 2008. Statutory accounts for year
ended 30 November 2007, which were prepared under UK GAAP, have been delivered to the Registrar of Companies, and those
for the year ended 30 November 2008 accounts, prepared in accordance with International Financial Reporting Standards
adopted for use by the EU, will be delivered in due course. The auditor's report did not contain a statement under
section 237(2) or (3) of the Companies Act 1985 in either period. The auditor's report for the period ended 30 November
2008 includes an emphasis of matter paragraph describing a material uncertainty concerning the ability of the Group
continuing to operate within its regulatory capital requirements which may cast significant doubt about the ability of
the Group to continue as a going concern. The financial information does not include the adjustments that would result
if the Group was unable to continue as a going concern.

[joe_the_bummer] 26/3/2009 11:58

HEY LOOK AT THIS !!!!!!

THESE ARE NOT THE RESULTS JUST PRE LIMS !!!! UNSIGNED BY AUDITORS NOTE THIS

Statutory accounts

The financial information set out herein does not constitute the company's statutory accounts for the years ended 30
November 2008 or 2007 but is derived from the accounts for the year ended 30 November 2008. Statutory accounts for year
ended 30 November 2007, which were prepared under UK GAAP, have been delivered to the Registrar of Companies, and those
for the year ended 30 November 2008 accounts, prepared in accordance with International Financial Reporting Standards
adopted for use by the EU, will be delivered in due course. The auditor's report did not contain a statement under
section 237(2) or (3) of the Companies Act 1985 in either period. The auditor's report for the period ended 30 November
2008 includes an emphasis of matter paragraph describing a material uncertainty concerning the ability of the Group
continuing to operate within its regulatory capital requirements which may cast significant doubt about the ability of
the Group to continue as a going concern. The financial information does not include the adjustments that would result
if the Group was unable to continue as a going concern.

THERE IS DOUBT THAT THE GROUP CAN CONTINUE AS A GOING CONCERN !!!! GET THE HELL OUT (IMOH)

[noahstitanicarc] 26/3/2009 11:28

if that's what tickles your bubble :-

[whiterussians] 25/3/2009 16:10

my my

regulatory capital no longer there then? Dont they need this to do floats and fund raisings?