TIDMWHI
RNS Number : 5398S
W.H. Ireland Group PLC
06 November 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE EU MARKET ABUSE REGULATION (596/2014).
WH Ireland Group Plc
("WH Ireland" or the "Company")
Result of Placing
Notice of General Meeting
Related Party Transaction
PDMR Trading
The Company is pleased to announce that it has raised gross
proceeds of GBP2.8million as result of the fundraising announced
earlier today (the "Fundraising").
A total of 5,827,397 new ordinary shares in the capital of the
Company ("Ordinary Shares") have been conditionally placed by WH
Ireland Limited with new and existing investors (the "Placing") at
a price of 48 pence per share (the "Issue Price").
The Placing is subject to, inter alia, shareholder approval. The
Placing Price represents a discount of approximately 2 per cent to
the closing mid-market price of WH Ireland's existing ordinary
shares of 49 pence on 5 November 2019 (being the last business day
prior to the announcement). The Placing Shares represent
approximately 12 per cent. of the Company's enlarged issued share
capital.
The Company intends that the net proceeds of the Placing will be
used to create a significant buffer to its minimum regulatory
capital position.
Commenting on the transaction, Phillip Wale, Chief Executive
Officer said:
"We are delighted with the support from new and existing
shareholders. This Placing, along with the anticipation of a return
to monthly profitability for the Company by the start of the new
financial year, will strongly position the Group to exploit the
opportunities available to it over the coming months from both a
transactional and a recruitment perspective."
Related Party Transaction
As part of the Placing, Polygon Global Partners Limited have
subscribed for 1,750,366 Placing Shares, which would increase their
total interest in Ordinary Shares in the Company to 14,543,522
Ordinary Shares (including 1,210,278 held by way of a CFD) and
accordingly if the Placing becomes unconditional and proceeds to
completion, Polygon would be interested in, or hold exposure to,
29.86% of the Company's enlarged voting rights.
As part of the Placing, M&G Investments Limited have
subscribed for 885,889 Placing Shares, which, if the Placing
becomes unconditional and proceeds to completion, would increase
their total holding to approximately 7,301,333 Ordinary Shares and
14.99% of the Company's enlarged issued share capital.
The Company also confirms that as part of the Placing the
following PDMRs have agreed to subscribe for the following Placing
Shares:
Name of PDMR Number of Placing Total shares held Total interest
Shares subscribed in the Company, in the enlarged
for at the Placing assuming the Placing issued share capital
Price is completed
Phillip Wale,
CEO 18,000 75,000 0.15%
-------------------- ---------------------- ----------------------
Philip Shelley,
Chair (elect) 260,414 760,414 1.56%
-------------------- ---------------------- ----------------------
Victoria Raffé,
Non-Executive
Director 33,333 33,333 0.068%
-------------------- ---------------------- ----------------------
Simon Lough, Non-Executive
Director 104,166 319,167 0.66%
-------------------- ---------------------- ----------------------
Stephen Ford,
Executive Director
(elect) and Head
of Wealth 60,235 375,000* 0.77%
-------------------- ---------------------- ----------------------
Alistair Buchanan
(Non-Executive
Director, elect) 208,333 208,333 0.43%
-------------------- ---------------------- ----------------------
Yen Chang (Head
of Compliance) 15,000 15,000 0.03%
-------------------- ---------------------- ----------------------
*of which 93,827 Ordinary Shares are held by his wife
As Polygon and M&G are substantial shareholders in the
Company, and Phillip Wale, Philip Shelley, Victoria Raffe and Simon
Lough are directors of the Company, this transaction is considered
to be a related party transaction under the AIM Rules for
Companies. The Directors of the Company, excluding those who are
participating in the Placing, having consulted with the Company's
Nominated Adviser, SPARK Advisory Partners Limited, consider that
the terms of the transaction are fair and reasonable insofar as the
shareholders are concerned.
Notice of General Meeting
The Company also confirms that it will today dispatch a notice
of general meeting to convene a meeting of shareholders at 24
Martin Lane, London EC4R 0DR at 9.30 a.m. on 22 November 2019 for
the purpose of considering and, if thought fit, passing certain
resolutions to give effect to the Placing and also the NED Scheme,
the details of which were set out in the announcement (timed at
7.15am) made earlier today.
Copies of the circular will shortly be posted to shareholders
and will be available on the Company's website
www.whirelandplc.com
WH Ireland Group plc www.whirelandplc.com
Phillip Wale, Chief Executive Officer +44(0) 20 7220 1666
WH Ireland Limited (as Broker)
Harry Ansell and Dan Bristowe +44(0) 20 7220 1666
SPARK Advisory Partners Limited
Andrew Emmottt +44(0) 20 3368 3551
MHP Communications +44(0)20 3128 8793
Reg Hoare
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 N/A
-------------------------------------------------------- ------------------------------------------------------
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
Identification code
GB0009241885
-------------------------------------------------------- ------------------------------------------------------
b) Nature of the transactions Conditional Purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Type Price(s) Volume(s)
Purchase 48p 18,000
--------- ----------
-------------------------------------------------------- ------------------------------------------------------
Aggregated information
* Aggregated volume
18,000
d) * Price 48p
-------------------------------------------------------- ------------------------------------------------------
e) Date of the transaction 6 November 2019
-------------------------------------------------------- ------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------------------------------------- ------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Philip Shelley
-------------------------------------------------------- ------------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------------------------
a) Position/status Chair (elect)
-------------------------------------------------------- ------------------------------------------------------
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 N/A
-------------------------------------------------------- ------------------------------------------------------
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
Identification code
GB0009241885
-------------------------------------------------------- ------------------------------------------------------
b) Nature of the transactions Conditional Purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Type Price(s) Volume(s)
Purchase 48p 260,414
--------- ----------
-------------------------------------------------------- ------------------------------------------------------
Aggregated information
* Aggregated volume
260,414
d) * Price 48p
-------------------------------------------------------- ------------------------------------------------------
e) Date of the transaction 6 November 2019
-------------------------------------------------------- ------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------------------------------------- ------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Victoria Raffé
-------------------------------------------------------- ------------------------------------------------------
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 N/A
-------------------------------------------------------- ------------------------------------------------------
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
Identification code
GB0009241885
-------------------------------------------------------- ------------------------------------------------------
b) Nature of the transactions Conditional Purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Type Price(s) Volume(s)
Purchase 48p 33,333
--------- ----------
-------------------------------------------------------- ------------------------------------------------------
Aggregated information
* Aggregated volume
33,333
d) * Price 48p
-------------------------------------------------------- ------------------------------------------------------
e) Date of the transaction 6 November 2019
-------------------------------------------------------- ------------------------------------------------------
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 N/A
-------------------------------------------------------- ------------------------------------------------------
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
Identification code
GB0009241885
-------------------------------------------------------- ------------------------------------------------------
b) Nature of the transactions Conditional Purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Type Price(s) Volume(s)
Purchase 48p 104,166
--------- ----------
-------------------------------------------------------- ------------------------------------------------------
Aggregated information
* Aggregated volume
104,166
d) * Price 48p
-------------------------------------------------------- ------------------------------------------------------
e) Date of the transaction 6 November 2019
-------------------------------------------------------- ------------------------------------------------------
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 (elect) and Head of Wealth
-------------------------------------------------------- ------------------------------------------------------
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 N/A
-------------------------------------------------------- ------------------------------------------------------
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
Identification code
GB0009241885
-------------------------------------------------------- ------------------------------------------------------
b) Nature of the transactions Conditional Purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Type Price(s) Volume(s)
Purchase 48p 60,235
--------- ----------
-------------------------------------------------------- ------------------------------------------------------
d) Aggregated information
* Aggregated volume 60,235
48p
* Price
------------------------------------------------------------- ------------------------------------------------------
e) Date of the transaction 6 November 2019
-------------------------------------------------------- ------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------------------------------------- ------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Alistair Buchanan
-------------------------------------------------------- ------------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------------------------
a) Position/status Non-Executive Director (elect)
-------------------------------------------------------- ------------------------------------------------------
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 N/A
-------------------------------------------------------- ------------------------------------------------------
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
Identification code
GB0009241885
-------------------------------------------------------- ------------------------------------------------------
b) Nature of the transactions Conditional Purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Type Price(s) Volume(s)
Purchase 48p 208,333
--------- ----------
-------------------------------------------------------- ------------------------------------------------------
Aggregated information
* Aggregated volume
208,333
d) * Price 48p
-------------------------------------------------------- ------------------------------------------------------
e) Date of the transaction 6 November 2019
-------------------------------------------------------- ------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------------------------------------- ------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Yen Chang
-------------------------------------------------------- ------------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------------------------
a) Position/status Head of Compliance
-------------------------------------------------------- ------------------------------------------------------
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 N/A
-------------------------------------------------------- ------------------------------------------------------
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
Identification code
GB0009241885
-------------------------------------------------------- ------------------------------------------------------
b) Nature of the transactions Conditional Purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- ------------------------------------------------------
c) Price(s) and volume(s) Type Price(s) Volume(s)
Purchase 48p 15,000
--------- ----------
-------------------------------------------------------- ------------------------------------------------------
Aggregated information
* Aggregated volume
15,000
d) * Price 48p
-------------------------------------------------------- ------------------------------------------------------
e) Date of the transaction 6 November 2019
-------------------------------------------------------- ------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------------------------------------- ------------------------------------------------------
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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END
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