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WHI W.h. Ireland Group Plc

4.25
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
W.h. Ireland Group Plc LSE:WHI London Ordinary Share GB0009241885 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 4.25 4.00 4.50 4.25 4.25 4.25 51 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 25.97M -1.94M -0.0082 -5.18 10.03M

W.H. Ireland Group PLC Result of Placing and Notice of General Meeting (9196G)

30/11/2020 10:47am

UK Regulatory


W.h. Ireland (LSE:WHI)
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TIDMWHI

RNS Number : 9196G

W.H. Ireland Group PLC

30 November 2020

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) ("MAR"). THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

WH Ireland Group Plc

("WH Ireland" or the "Company")

Result of Placing

Notice of General Meeting

Related Party Transaction

PDMR Notification

The Company is pleased to announce that it has raised gross proceeds of GBP5.3 million as result of the fundraising announced earlier today (the "Placing").

A total of 13,250,000 new ordinary shares in the capital of the Company ("Placing Shares") have been conditionally placed by WH Ireland Limited with new and existing investors at a price of 40 pence per share (the "Issue Price").

The Placing is subject to, inter alia, shareholder approval. The Placing Price represents a discount of approximately 3.6 per cent to the closing price of WH Ireland's existing ordinary shares of 41.5 pence on 27 November 2020 (being the last business day prior to the announcement). The Placing Shares represent approximately 21 per cent. of the Company's enlarged issued share capital.

The Placing proceeds will be used to fund the acquisition of Harpsden Wealth Management Limited, an independent financial advisory and wealth management company, as described in the Company's announcement this morning.

Related Party Transaction

Certain shareholders, being substantial shareholders in the Company as defined in the AIM Rules, have conditionally agreed to participate in the Placing as follows:

 
                     As at the Last Practicable      Placing           On Admission 
                                Date 
                   Ordinary        Percentage       Number of   Ordinary     Percentage 
                    Shares          of Issued        Placing     Shares       of Issued 
                                    Share Capital    Shares                   Share Capital 
                                    (%)                                       (%) 
                  --------------  ---------------  ----------  -----------  --------------- 
 Polygon Global 
  Partners LLP     14,543,522(1)   29.85%           4,032,500   18,576,022   29.97% 
                  --------------  ---------------  ----------  -----------  --------------- 
 M&G Investment 
  Management 
  Ltd              7,301,333       14.98%           1,990,000   9,291,333    14.99% 
                  --------------  ---------------  ----------  -----------  --------------- 
 
   1.        including 1,310,278 held by way of various CFDs 

Philip Shelley, Phillip Wale, Simon Lough and Stephen Ford being directors of the Company and therefore related parties to the Company as defined in the AIM Rules, have conditionally agreed to subscribe for an aggregate of 627,195 Placing Shares in the Placing as detailed below:

 
 Name              Role             Number of         Number of          Percentage 
                                     Placing Shares    Ordinary Shares    of the Enlarged 
                                                       held following     Share Capital 
                                                       Admission          (%) 
                   Non-Executive 
 Philip Shelley     Chairman        374,978           1,447,993          2.34% 
                  ---------------  ----------------  -----------------  ----------------- 
 Phillip Wale      CEO              18,000            130,000            0.21% 
                  ---------------  ----------------  -----------------  ----------------- 
                   Executive 
                    Director and 
 Stephen Ford       Head of WM      109,217           479,217            0.77% 
                  ---------------  ----------------  -----------------  ----------------- 
                   Non-Executive 
 Simon Lough        Director        125,000           454,583            0.73% 
                  ---------------  ----------------  -----------------  ----------------- 
 

The participation of certain Directors (or their associates) and certain substantial shareholders in the Placing is a related party transaction for the purpose of Rule 13 of the AIM Rules. The Independent Directors (being those Directors who have not participated in the Placing) consider, having consulted with Spark Advisory Partners Limited, the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.

Further information contained in the appendix to this notification is disclosed in accordance with the requirements of the EU Market Abuse Regulation.

General Meeting

The Company also confirms that it will dispatch a Circular and notice of general meeting to convene a meeting of shareholders at 24 Martin Lane, London EC4R 0DR at 10.00 a.m. on 18 December 2020 for the purpose of considering and, if thought fit, passing certain resolutions to give effect to the Placing and the Conditional Acquisition.

The Circular will set out arrangements for the General Meeting in light of the current British Government restrictions placed on public gatherings in response to the COVID-19 outbreak. Under the current prohibition on non-essential travel and public gatherings, it will not be possible for Shareholders to attend the General Meeting in person. Shareholders are strongly urged to vote by proxy in advance of the deadline by completing their form of proxy in accordance with the instructions and further details are set out in the Circular and the form of proxy. The Company will continue to monitor the restrictions in place in response to COVID-19 and, if circumstances change, it will consider if it is appropriate to open the Annual General Meeting for attendance by shareholders in person. If this is the case, an update will be given on the Company's website and an announcement will be made via a Regulatory Information Service.

Copies of the circular will shortly be posted to shareholders tomorrow and will be available from that date on the Company's website: www.whirelandplc.com

Admission to Trading on AIM

Application will be made to the London Stock Exchange for admission to trading of the Placing Shares on AIM. Subject to the Resolutions being passed at the General Meeting, it is expected that settlement of any such shares and Admission will become effective on or around 21 December 2020 and that dealings in the Placing Shares will commence at that time.

.

For further information please contact:

 
WH Ireland Group plc              www.whirelandplc.com 
Phillip Wale, CEO                 +44(0) 20 7220 1666 
SPARK Advisory Partners Limited 
Andrew Emmott                     +44 (0) 20 3368 3555 
  MHP Communications 
    Reg Hoare / James Bavister    +44 (0) 20 3128 8793 
Asgard Partners 
 Alexander Rix                    +44 (0) 20 7653 9011 
 

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on shares acquired.

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                      Phillip Wale 
     --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           CEO 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification/ Amendment                           Initial Notification 
     --------------------------------------------------------  ------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      WH Ireland Group plc 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI                                                       213800HB9TO5O4WD6S66 
     --------------------------------------------------------  ------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; and (iv) each place where transactions have been 
       conducted 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Description of the financial instrument, type of          Ordinary shares of 5p 
      instrument                                                 GB0009241885 
 
      Identification code 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Conditional purchase of Ordinary Shares (subject only 
                                                                to GM) 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    18,000 ordinary shares at 40p 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)    Aggregated information                                   18,000 ordinary shares 
         *    Aggregated volume                                  40p 
 
 
         *    Price 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   30 November 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  London Stock Exchange, AIM 
     --------------------------------------------------------  ------------------------------------------------------- 
 1    Details of the person discharging managerial responsibilities/person closely associated 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      Phillip Shelley 
     --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           Chairman 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification/ Amendment                           Initial Notification 
     --------------------------------------------------------  ------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      WH Ireland Group plc 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI                                                       213800HB9TO5O4WD6S66 
     --------------------------------------------------------  ------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; and (iv) each place where transactions have been 
       conducted 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Description of the financial instrument, type of          Ordinary shares of 5p 
      instrument                                                 GB0009241885 
 
      Identification code 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Conditional purchase of Ordinary Shares (subject only 
                                                                to GM) 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    374,978 ordinary shares at 40p 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)    Aggregated information                                   374,978 ordinary shares 
         *    Aggregated volume                                  40p 
 
 
         *    Price 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   30 November 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  London Stock Exchange, AIM 
     --------------------------------------------------------  ------------------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                      Stephen Ford 
     --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           Executive Director and Head of WM 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification/ Amendment                           Initial Notification 
     --------------------------------------------------------  ------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      WH Ireland Group plc 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI                                                       213800HB9TO5O4WD6S66 
     --------------------------------------------------------  ------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; and (iv) each place where transactions have been 
       conducted 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Description of the financial instrument, type of          Ordinary shares of 5p 
      instrument                                                 GB0009241885 
 
      Identification code 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Conditional purchase of Ordinary Shares (subject only 
                                                                to GM) 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    109,217 ordinary shares at 40p 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)    Aggregated information                                   109,217 ordinary shares 
         *    Aggregated volume                                  40p 
 
 
         *    Price 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   30 November 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  London Stock Exchange, AIM 
     --------------------------------------------------------  ------------------------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                      Simon Lough 
     --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           Non-executive Director 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Initial notification/ Amendment                           Initial Notification 
     --------------------------------------------------------  ------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Name                                                      WH Ireland Group plc 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   LEI                                                       213800HB9TO5O4WD6S66 
     --------------------------------------------------------  ------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; and (iv) each place where transactions have been 
       conducted 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Description of the financial instrument, type of          Ordinary shares of 5p 
      instrument                                                 GB0009241885 
 
      Identification code 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 Conditional purchase of Ordinary Shares (subject only 
                                                                to GM) 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    125,000 ordinary shares at 40p 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)    Aggregated information                                   125,000 ordinary shares 
         *    Aggregated volume                                  40p 
 
 
         *    Price 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   30 November 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  London Stock Exchange, AIM 
     --------------------------------------------------------  ------------------------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

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November 30, 2020 05:47 ET (10:47 GMT)

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