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WH Ireland Share Discussion Threads
Showing 2026 to 2049 of 2050 messages
|Sudden drop on low volume today - does anyone here have L2 and can tell us what the book looks like?|
|Polygon increasing significantly since their last holdings announcement. Good sign. Looks like they are hovering up any sells.|
|Thanks. As at the end of June, WHI's discretionary AUM was around GBP 950 million (out of a total of GBP 2.67 billion AUM), up 24% from the previous year.|
|I think that Duncan Lawrie's AUM are all discretionary so will probably gross some 5-6M revenue - what is the WHI mix?|
|Interesting to see Brewin Dolphin buying Duncan Lawrie’s asset management business, spending £28m to acquire £735m of investments. What price does that imply for WHI's 3 billion under management?|
|Good to see Polygon, Oceanwood and KEH all stumping up in the placing recently, although slightly concerning that the company needs a placing for a mere GBP 1.5 million 'for general corporate purposes' (presumably, because they're running out of cash). Polygon and Oceanwood must be hoping for a full KEH takeover imo. We should be getting a trading update this week, I think.|
|Polygon buying again. 23% now.|
|70k shares bought at 125p today..|
|Interesting to see Polygon still buying here, imo. Up to 5,770,634 shares (22.078%), from the 5,525,634 (21.12%) last reported. So they've added around 250k shares (GBP 300k) in the last 6 weeks or so, even after the Kuwaitis took a stake. I guess that means they can't be in discussions with the Kuwaitis bout selling their stake, but positive nevertheless imo. I still hold quite a few here.|
|Equity Development seem to think it's not a precursor to a full takeover. However, I bet Oceanwood and Polygon will be banging on the Kuwaitis' door trying to do a deal with them. they won't want to be stuck with 36% of the company without the prospect of being taken out, imo.|
|Indeed. I did. Thanks.|
|More to come?
"potentially as the precursor to a full takeover of the London-listed firm."
A chance to get in 10% cheaper than the 140 paid by the Kuwaitis yesterday.|
|tromso1: Simon Thompson is behind a paywall. Does he say anything interesting?|
|The price was 140p. Just check yesterday's trades. (I take meijiman's point about Equity Development though!)|
|Why would KEH want a small value stake in WHI? It seems unlikely that they hope to make a trading profit, or hang about hoping for dividends.|
|Who would take note of anything written by Equity Development?|
|Equity Development say the price was 140p:
W.H. Ireland ("WHI") has gained a new and powerful strategic investor in Kuwaiti European Holdings ("KEH"), the vehicle of the highly respected Al-Humaidi family, which has purchased 23% of the shares at 140p per share, a 39% premium to Friday's closing price. KEH owns substantial businesses in leisure, property, financial services and healthcare, including an investment management company in Kuwait and a FCA-regulated firm in the UK. The FCA has approved a "change of control" allowing KEH to buy up to 29.9% of W.H. Ireland.
We can visualise significant benefits: firstly synergies between WHI and the Kuwaiti investment manager (many Kuwaitis wish to invest in the UK), secondly KEH will use WHI's expertise when making other investments in the UK, thirdly KEH's access to capital can fund any attractive acquisition opportunities that come WHI's way.
The price KEH paid for the shares is a substantial 42% discount to our estimate of a sum-of-the-parts valuation for WHI (of 240p per share), but an almost equal 39% premium to the market price on Friday evening (pre announcement). Paying £8m+ at a significant premium to the market price looks like a strong vote of confidence in the strategies that WHI CEO Richard Killingbeck and his team have been pursuing.|
|Now for the stampede.|
|Tthanks Courant. Interesting. In particular, that they are apparently buying from Marland, Lowe and others. I bet Polygon and Oceanwood (36% plus between them)weren't expecting that!|
Should be exciting on Monday!|
|This company is so poorly managed. They need changes at the top. They are seen as the nomad broker of last resort|
|Terrible management decisions have resulted in a loss.|
|Looks like Polygon soaking up all the sells here. Good to see. Now over 20%.|