W.h. Ireland Share Discussion Threads

[gargoyle2] 20/12/2016 10:16

Thanks. As at the end of June, WHI's discretionary AUM was around GBP 950 million (out of a total of GBP 2.67 billion AUM), up 24% from the previous year.

[huttonr] 20/12/2016 08:53

I think that Duncan Lawrie's AUM are all discretionary so will probably gross some 5-6M revenue - what is the WHI mix?

[gargoyle2] 20/12/2016 07:58

Interesting to see Brewin Dolphin buying Duncan Lawrie’s asset management business, spending £28m to acquire £735m of investments. What price does that imply for WHI's 3 billion under management?

[gargoyle2] 11/12/2016 04:28

Good to see Polygon, Oceanwood and KEH all stumping up in the placing recently, although slightly concerning that the company needs a placing for a mere GBP 1.5 million 'for general corporate purposes' (presumably, because they're running out of cash). Polygon and Oceanwood must be hoping for a full KEH takeover imo. We should be getting a trading update this week, I think.

[mctmct] 08/12/2016 18:35

Polygon buying again. 23% now.

[gargoyle2] 25/10/2016 18:42

70k shares bought at 125p today..

[gargoyle2] 13/10/2016 04:48

Interesting to see Polygon still buying here, imo. Up to 5,770,634 shares (22.078%), from the 5,525,634 (21.12%) last reported. So they've added around 250k shares (GBP 300k) in the last 6 weeks or so, even after the Kuwaitis took a stake. I guess that means they can't be in discussions with the Kuwaitis bout selling their stake, but positive nevertheless imo. I still hold quite a few here.

[gargoyle2] 21/9/2016 15:33

Equity Development seem to think it's not a precursor to a full takeover. However, I bet Oceanwood and Polygon will be banging on the Kuwaitis' door trying to do a deal with them. they won't want to be stuck with 36% of the company without the prospect of being taken out, imo.

[mctmct] 20/9/2016 13:00

Indeed. I did. Thanks.

[tromso1] 20/9/2016 11:25

More to come?

"potentially as the precursor to a full takeover of the London-listed firm."



A chance to get in 10% cheaper than the 140 paid by the Kuwaitis yesterday.

[mctmct] 20/9/2016 11:25

tromso1: Simon Thompson is behind a paywall. Does he say anything interesting?

[gargoyle2] 20/9/2016 10:55

The price was 140p. Just check yesterday's trades. (I take meijiman's point about Equity Development though!)

[mctmct] 20/9/2016 10:06

Why would KEH want a small value stake in WHI? It seems unlikely that they hope to make a trading profit, or hang about hoping for dividends.

[meijiman] 20/9/2016 09:34

Who would take note of anything written by Equity Development?

[mctmct] 20/9/2016 09:11

Equity Development say the price was 140p:


----------------
W.H. Ireland ("WHI") has gained a new and powerful strategic investor in Kuwaiti European Holdings ("KEH"), the vehicle of the highly respected Al-Humaidi family, which has purchased 23% of the shares at 140p per share, a 39% premium to Friday's closing price. KEH owns substantial businesses in leisure, property, financial services and healthcare, including an investment management company in Kuwait and a FCA-regulated firm in the UK. The FCA has approved a "change of control" allowing KEH to buy up to 29.9% of W.H. Ireland.

We can visualise significant benefits: firstly synergies between WHI and the Kuwaiti investment manager (many Kuwaitis wish to invest in the UK), secondly KEH will use WHI's expertise when making other investments in the UK, thirdly KEH's access to capital can fund any attractive acquisition opportunities that come WHI's way.

The price KEH paid for the shares is a substantial 42% discount to our estimate of a sum-of-the-parts valuation for WHI (of 240p per share), but an almost equal 39% premium to the market price on Friday evening (pre announcement). Paying £8m+ at a significant premium to the market price looks like a strong vote of confidence in the strategies that WHI CEO Richard Killingbeck and his team have been pursuing.

[tez123] 19/9/2016 06:57

Now for the stampede.

[gargoyle2] 18/9/2016 20:29

Tthanks Courant. Interesting. In particular, that they are apparently buying from Marland, Lowe and others. I bet Polygon and Oceanwood (36% plus between them)weren't expecting that!

[courant] 18/9/2016 12:14

hxxp://news.sky.com/story/kuwaiti-investors-pounce-on-venerable-city-broker-wh-ireland-10581918

Should be exciting on Monday!

[a2584728] 21/7/2016 09:57

This company is so poorly managed. They need changes at the top. They are seen as the nomad broker of last resort

[meijiman] 21/7/2016 07:44

Terrible management decisions have resulted in a loss.

[gargoyle2] 04/7/2016 08:15

Looks like Polygon soaking up all the sells here. Good to see. Now over 20%.

[a_mclart] 12/6/2016 07:44

Seems to be going well and no bad press lately? Anyone seen any bad press?

BUT - if there is a brexit it will impact all CITY brokers.

[gargoyle2] 13/5/2016 13:20

Someone selling in 25k chunks today. Wonder if that's Rupert Lowe. I see WHI has a new website, but major shareholder and issued share details are woefully out of date.