W.h. Ireland Share Discussion Threads

[panther21] 28/7/2023 09:23

As I have posted for months this companyHas been going bust for months . Sixth rescue rights issue shareholder value destroyed just to keep failed management in an overpaid job. This is a scandal .shareholders should vote against and let a liquidation provide their value return for the recently appointed non execs to resign and the failed execs to remain is laughable what fantasy world are they living in . They are drawing over £2m a year in a micro company .Deluded is the kindest word you could use about them

[arthur_lame_stocks] 28/7/2023 09:22

It looks like a done deal then, ho hum.

[kemche] 28/7/2023 09:05

This one has always been the laughing stock of the city. All the best brokers want to work there.

[arthur_lame_stocks] 28/7/2023 08:30

If they have nearly £2bn in AUM in the wealth management division I would think this could be sold for £10-£20m and then I understand they have around 80-90 clients on the corporate broking side. That must be worth something to someone.

Basically Polygon are trying to recoup some of their losses by shafting all the rest of the shareholders.

The fact that all 3 independent non execs have resigned should tell us something.

[pugugly] 28/7/2023 08:21

Intrinsic value? Those companies where WHI is the AIM nomad are likely to be very worried this morning and stating to possibly think about replacement nomad in worst case scenario.

Shades of VSA?

Now who could be the likely gainer?

[harry_david] 28/7/2023 08:15

It's a bad environment but I guess this fund raising is it or go bust. If the cost cutting is handled correctly it could remake the whole business.

[oceans4] 28/7/2023 08:13

This is painful. The business is 100% over in my opinion. There's going to absolutely zero motivation amongst staff (because almost all staff have share options) and the remaining key players will leave for sure.

[arthur_lame_stocks] 28/7/2023 07:44

I actually think shareholders could bring an unfair prejudice action against this and have a fair chance of being successful. The problem is most small shareholders would have to spend more in legal fees than it would be worth and organising enough shareholders to spread the cost would be difficult.

I guess that's what they're relying on.

[pugugly] 28/7/2023 07:35

Timber!!!!!!!!!!!!!!!!!!!!!
Guesses as to initial markdown - For openers say 50% - Other guesses??
What a loss.

"n the three-month period ended 30 June 2023, the Company made a pre-tax loss of £1.1m (on a statutory basis, unaudited) on revenues of c.£5.6m (unaudited)"

P45's all round..

Edited at 7:40am Now marked 3p bid - 5p offered.

Possible low ball t/o - If so a how much?

[mortal1ty] 28/7/2023 07:34

Nice way for a major shareholder to massively increase control.

[arthur_lame_stocks] 28/7/2023 07:21

That's an astronomical stitch up. I think that only values the whole business at about £1.5m. Don't tell me you couldn't get back far more than that breaking it up and selling it off.

I'll vote against for all the good it'll do.

[thesloth2] 28/7/2023 07:15

£5m placing at 3p. Close yesterday 22p. WTF ?

[panther21] 18/7/2023 09:20

Maybe but AJBell produce their annual report in 8 weeks which is more normal

[harry_david] 17/7/2023 20:02

Panther, auditors are no doubt the problem. Several companies I am holding have delayed their reports due to them. Auditors are currently being chased by everybody and are running scared

[panther21] 17/7/2023 17:52

Where are the results for year to March 2022? Why does it now take them four months to produce and announce in a financial organisation that must produce monthly accounts?How can you say in April you are going to lose £2m yet still not announce the audited figures. Speaks volumes about culture within.

[harry_david] 06/7/2023 16:39

Panther, take your point, am a shareholder, perhaps too sold on the operational guys who certainly do a good job. They were successful in mining finance and deals but the sector has no market support at all right now. AUM they are just too small.

[panther21] 06/7/2023 15:40

There are some decent people working there but the problem is many years of losses ten years plus of no dividends five rescue rights issues doubling the diluted equity and a complacent board awarding bonuses to ageing executives for truly awful performance . Do they still owe £2m to the IFA vendors still not paid ?After continuing losses how much capital is left to keep trading ? Must be sold quickly at any price to give shareholders any value. What a shame!

[harry_david] 06/7/2023 14:09

Just spoken to a friend who has a million with them. He says several personnel changes recently but service still good. Only question mark is fees but when I asked he could not remember,so could not be that important.

[dartagnan4] 06/7/2023 09:07

Oceans4, re your comment about AUM, I doubt we will see any material effect of this yet due to restrictive covenants causing a time lag. I expect this will be more evident next year.

[harry_david] 05/7/2023 21:48

You guys have a beef with this firm? I use them a lot, they are one of three I deal through and of the three they are the best operators for both small and medium companies, the big don't matter. It may be a particular individual to some extent but it is also teamwork. Their corporate business recently has been thin on the ground but they are hardly alone in that. The fund management side I have no involvement with, or anywhere else for that matter.

[oceans4] 05/7/2023 15:20

The anticipated y/e results are not expected to be favorable, and shareholders have been informed in advance through the profits warning. The Q1 statement will be crucial as it may reveal the repercussions on Assets Under Management (AUM) following the departure of significant investment managers, who likely took valuable clients with them. I just hope major shareholders take notice and sell the business ASAP. I think we are on the brink of consolidators paying significantly less for stockbroking type businesses, mainly because of higher interest rates. The current management lacks the necessary experience to successfully navigate this situation. Neither do those that are left in mid ranking positions. If you happen to be a competitor to WH Ireland, it would be relatively easy to outperform them in all areas which would be nice for them.

[bumpa33] 04/7/2023 11:51

WHI can chase ‘em all they like, they’ve got sod all chance of snaring any of ‘em though. Going from Numis to WHI would be like getting relegated from the Premier League to the Vanarama in one move..!