REG - W.H. Ireland Group - Completion of Sale of the Capital Markets Division

WH IrelandAnnouncement

15/07/2024 07:00

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RNS Number : 3077W  W.H. Ireland Group PLC  15 July 2024

This announcement contains certain inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"),
and is disclosed in accordance with the Company's obligations under Article 17
of MAR.

 

WH Ireland Group Plc

 

("WH Ireland" or the "Company"

and with its subsidiaries the "Group")

Completion of Sale of the Capital Markets Division

Further to the Company's announcement of 3 June 2024, WH Ireland (AIM: WHI) is
pleased to confirm that the sale by its wholly owned subsidiary, WH Ireland
Limited of the business and certain assets of its Capital Markets Division to
Zeus Capital Limited has now completed ("Completion").

Commenting Phillip Wale, CEO said "This transaction secures an outcome which
the Directors believe is beneficial in respect of the overall strategy of the
Group".

As stated in the announcement of 3 June 2024, the sale of the Capital Markets
Division will help to satisfy the Group's objectives by immediately reducing
its liabilities, as well as its working and regulatory capital requirements,
while also increasing potential cash inflows if and when the deferred
consideration is paid, shortly following the first anniversary of completion
of the Transaction.

Information for Nominated Adviser Clients of WH Ireland Capital Markets

With effect from this morning, the majority of WH Ireland's clients have
successfully transferred to Zeus Capital Limited. For those clients that have
not yet transferred transitional arrangements have been put in place to enable
WH Ireland Limited to maintain its Nominated Adviser status for a maximum of a
further three months after Completion (i.e. until 14 October 2024). A WH
Ireland Qualified Executive will be made available to any remaining clients to
continue to perform WH Ireland's Nomad obligations for this period only and to
assist them in transferring to Zeus Capital Limited or to a new Nominated
Adviser.

Following the disposal of its Capital Markets Division and pursuant to Rule 31
of the AIM Rules for Nominated Advisers, WH Ireland Limited is now prevented
from taking on any new Nominated Adviser clients.

For further information please contact:

 WH Ireland Group plc                                     www.whirelandplc.com
                                                          (https://protect.checkpoint.com/v2/___http:/www.whirelandplc.com___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzplNzA3MDcxZmRhYjY5YzBjNzRlNTIwZmYxY2JmNzg5Yjo2OjNkZTA6M2JmZDJkNzc4YzFjMjExMzBjZmViYmFkMDk5OGMyNzY0NTUxNGQxZWEwNWU2OWI3OTQ2OTgzODZhN2QwMDFmODpwOlQ6Tg)
 Phillip Wale, Chief Executive Officer                    +44(0) 20 7220 1666

 Canaccord Genuity Limited                                www.canaccordgenuity.com
                                                          (https://protect.checkpoint.com/v2/___http:/www.canaccordgenuity.com___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzplNzA3MDcxZmRhYjY5YzBjNzRlNTIwZmYxY2JmNzg5Yjo2OmVhMjM6Y2Y1MTU5MzFjNWMyMGIzMzQ1N2E0ZmE1NWU3NDlmZDhjOWJmMmE2NTllZTdlNDU0MTIwOWFkYzg2ZWM2ODhjNzpwOlQ6Tg)
 Emma Gabriel / Harry Rees                                +44(0) 20 7523 8000

 MHP                                                      whireland@mhpgroup.com (mailto:whireland@mhpgroup.com)
 Reg Hoare / Charles Hirst                                +44 (0) 7831 406117

 

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