W.h. Ireland Share Discussion Threads

[oceans4] 28/7/2023 16:07

What are you talking about then?

[bumpa33] 28/7/2023 16:04

I’m not talking about their dealing desk.

[harry_david] 28/7/2023 16:00

Sorry Bumpa, I don't agree, they are one of the brokers I use and they compare well with the competition. I particularly like their execution and attention.

[bumpa33] 28/7/2023 15:35

WHI is one of the worst, if not THE worst of the low end retail broking outfits. Their reputation was in the dirt way before this debacle. Do feel for shareholders who’ve been trashed on this move though…

[oceans4] 28/7/2023 15:12

I agree. The individuals most adversely affected in this scenario are the hardworking general staff responsible for keeping the business operational and the clients of WH Ireland. It's important to note that this situation is entirely unrelated to any challenges faced by the markets throughout the year. Anyone with even a basic understanding of the situation will recognise this fact.

Many Qs, but here are a few

1. Why is Philip Wale still in the job?
2. Why is Philip Wale getting 6,666,666 nil cost options?
3. Why is Michael Bishop getting anything? One could put forward a strong case explaining how he has single-handedly played A key role in wrecking the WM side business as of late.
4. Why is Simon Jackson getting anything?
5. Harry and 4,166,666 shares for arranging the placing? This does not add up, other than the guy has too much influence.

Investors would significantly benefit from using the circa £5m to establish a new wealth management business or even just a portion of this amount. In my view, it is not wise to invest good money after bad. With a £5m investment, the business could grow substantially within three years, surpassing WH Ireland in size while also becoming compliant, profitable, and attractive to potential buyers. Setting up and managing a wealth management business is not an overly complex task – in fact, it is quite feasible and achievable even with no start up cash.

[tuna hunter] 28/7/2023 13:52

did James and Delia Bagot ever get their money back from this shyster outfit ?

[arthur_lame_stocks] 28/7/2023 12:10

I've decided to bite the bullet and dump my shares. I still think the intrinsic value is a lot higher but if you simply can't trust management to act in the interests of all shareholders then I don't want to hold.

[roses09] 28/7/2023 10:27

pleased i exited last year. what a fiasco!

[panther21] 28/7/2023 09:16

This is why shareholders should vote against this scandal .Clients of the firm were sold stock I am sure David Ross and others are delighted they have been diluted out of sight while executives have had losses repaid with new options already in profit!! Capitalism red in tooth and claw!

[meijiman] 28/7/2023 08:49

I'm not a holder but reading for entertainment. The ceo at WHI I believe was a failure at Panmure and 'asked to leave'. Everywhere he goes turns into a disaster zone.Clearly without any integrity I would say.

[oceans4] 28/7/2023 08:39

How on earth is Philip Wale getting 6,666,666 shares at nil cost. That's £400k at 6p and he is responsible for the current position of the business. Lots of questions!

[kemche] 28/7/2023 08:31

Just look at the team of professionals who work there. The finest in the city.

[panther21] 28/7/2023 08:23

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 08:22

It looks like a done deal then, ho hum.

[kemche] 28/7/2023 08:05

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 07:30

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 07:21

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 07:15

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 07:13

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 06:44

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 06:35

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 06:34

Nice way for a major shareholder to massively increase control.

[arthur_lame_stocks] 28/7/2023 06:21

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.