W.h. Ireland Share Discussion Threads

[harry_david] 27/9/2023 10:08

These were much better figures than I feared. They have a good chance of a worthwhile recovery when market conditions improve.

[tomps2] 27/9/2023 08:22

WH Ireland (WHI) Full year 2023 results overview - September 23

WH Ireland CEO, Phillip Wale presents an overview of 2023 full-year results for the year ended 31 March 23.

Watch the video here:

Or listen to the podcast here:

[chrisdgb] 27/9/2023 07:11

Could have been worse...............????

[oceans4] 21/9/2023 16:35

Never this late. They are normally 3 months after y/e at the latest. Sales going through at 5p today.

[creativevision] 18/9/2023 14:37

When do they normally announce by?
I get the feeling this company isn’t a stranger to cutting things fine!

[panther21] 06/9/2023 09:17

Still no accounts only 3 weeks before the 6 months deadline is up . More serious questions than answers

[panther21] 22/8/2023 16:43

Still no accounts for last year even though placing cash should have arrived are the auditors signing off if not why not ?Clear the company has lost many thousands buying shares for the Employee trust which has seen the.value of those shares butchered. Why have the scuttling non execs not left yet? The farce continues but never mind the exec directors and their mates are showing big gains on their options as are Polygon on their rock bottom placing sharesI hope the FCA are continuing to watch the situation closely in the interest of clients and shareholders.

[harry_david] 16/8/2023 11:35

We are mainly mining, quiet now due market liquidity issues.

[oceans4] 11/8/2023 17:20

Harry, What kind of business do you carry out with the corporate side? if you don't mind me asking

[harry_david] 11/8/2023 17:11

I am not knowledgeable about a big part of the business but before the slowdown the corporate side appealed to me and I really liked their dealing desk. I won't say I have been very active because we spread our business but it would be a real shame if another good set of operators bit the dust.

[panther21] 11/8/2023 16:37

I agree it is pathetic but I assume the auditors will not sign off that it is a going concern without the circular being approved by independent shareholders as they have said they cannot survive without the money . The question is will they survive for long even with this few million as they are still losing money until November?So they will have to sell the business to survive.What a shame that a good business has ended up in this mess from which only a few will benefit.

[oceans4] 11/8/2023 14:47

Still no audited year end results. We are over 4 months in to the new financial year.

[harry_david] 06/8/2023 16:46

Panther, no relation, you obviously know them and may be better informed but as an occasional client I have seen a reasonable level of performance. They certainly beat some of the better known names. Anyway for all our sakes let's hope they start making money.

[panther21] 06/8/2023 15:20

Sorry but nobody believes that or the company any more after appalling past and self serving refinancing for the management including Harry Ansell - no relation of Harry David I presume ? Shareholders may have been impoverished but they are not stupid .Is a class action pending ? Why has this long established broker allegedly by you pregnant with recovery been valued at the price of a small house in Chelsea?

[harry_david] 06/8/2023 09:01

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 10:32

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 10:26

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

[dartagnan4] 31/7/2023 22:17

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 20:16

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 16:43

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 13:47

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 10:07

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 08:10

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 16:28

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 16:14

The corporate advisory/wealth management part.