W.h. Ireland Share Discussion Threads

[harry_david] 06/8/2023 10:01

AUM is only one of the criteria for a well run business, the corporate side is due a strong recovery. With a good dealing desk corporate opportunities will flow soon.

[panther21] 01/8/2023 11:32

While the favoured few who got shares at 3p and options will make a bundle £2bn under management is worth £30m do the maths!

[panther21] 01/8/2023 11:26

will get peanuts on the inevitable sale. Thanks a bunch !

[dartagnan4] 31/7/2023 23:17

Oceans4, very interesting comments. WHI have lost several discretionary fund managers in recent months which, ironically, should have reduced their staff costs at present without impacting on their client revenue yet due to restrictive covenants. Will clients start leaving en masse once the restrictive covenant periods elapse? Also, articles were in the Telegraph and Times this weekend I believe, so clients will be starting to get wind of the situation. This public knowledge is likely to make any potential buyer very nervous about client retention.

[harry_david] 31/7/2023 21:16

Oceans4 valuable thoughts but some of us are deep underwater and selling is not much help, a bid of 20p is worth waiting for.

[oceans4] 31/7/2023 17:43

As much as I want the business to succeed, I can't see it happening and have bailed at 7p. I was hoping for a takeover and uplift and not a placing.1. AUM is likely to decline further in the coming months as clients leave, and cutting costs further could cause more harm and put more pressure on existing staff. And I don't believe costs can be cut in any sustained way. The firm probably won't be able to reduce costs faster than the decline in fee revenue, leading to potential collapse despite the £5m injection.2. Given the current situation and limited staff with stockbroking and wider FS experience, I doubt the company is prepared for Customer Duty. This is a curve ball, that could easily put the firm under also. Implementing it requires significant effort, and staff may lack the motivation to carry it out.3. The FCA will be closely monitor the company's activities.4. I view the £5 million as a 'sticking plaster' temporary measure to buy time. If a buyer is found quickly, the value should be higher than 3p per share, considering the recurring revenue from WM alone. However, speed is crucial in this process.

[harry_david] 31/7/2023 14:47

As a share they have been a hopeless investment, but funnily I think this near catastrophe could be the making of them. They have a few real goers and this might give them a push to the top.

[oceans4] 31/7/2023 11:07

I think shares are probably fairly valued at around 7.5p and my guess is they'll drift back down to 3p, or whatever the equivalent once reorganised, and the company will be sold at less than 3p or broken up.

[panther21] 29/7/2023 09:10

If it is true as now alleged that Polygon has been in effective control of the company for years vetting and recruiting senior management and all decisions they should be investigated by the takeover panel as a concert party and if established made to bid under the rules for what they are responsible for.They have piled in millions to keep this afloat but only the managers have benefited

[oceans4] 28/7/2023 17:28

I do think there were very capable individuals in the business up until very recently and might disagree slightly previously. However, I do agree that it's junk status now. It seems the capable individuals where never given an opportunity and the culture of the business must have changed. It always does when new management takes over. One wouldn't want them managing money now. The research team is tiny as it is (and no real experience there) and cuts have been huge up until this point. More cutting is just crazy. A cull at the top is what was needed. But it's too late now, unfortunately.

[bumpa33] 28/7/2023 17:14

The corporate advisory/wealth management part.

[oceans4] 28/7/2023 17:07

What are you talking about then?

[bumpa33] 28/7/2023 17:04

I’m not talking about their dealing desk.

[harry_david] 28/7/2023 17:00

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 16:35

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 16:12

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 14:52

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

[arthur_lame_stocks] 28/7/2023 13:10

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 11:27

pleased i exited last year. what a fiasco!

[panther21] 28/7/2023 10:16

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 09:49

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 09:39

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 09:31

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