REG - W.H. Ireland Group - Result of General Meeting

WH IrelandAnnouncement

21/03/2019 14:00

RNS Number : 6238T
W.H. Ireland Group PLC
21 March 2019
 


 
 
WH Ireland Group Plc
 
("WH Ireland" or the "Company")
 
Result of General Meeting
Completion of Placing
The Directors are pleased to confirm that at the Company's General Meeting held earlier today all resolutions were duly approved.
Accordingly, the Company is pleased to announce that the conditions set out in the announcement dated 5 March 2019 have been satisfied, and it has now unconditionally raised £4,950,000 from the issue of 11,000,000 new ordinary shares ("New Ordinary Shares") at a price of 45p per share (the "Placing"), subject only to Admission.
Commenting, CEO Phillip Wale said "I am delighted with the result of the Placing, which provides us with a secure platform from which to execute our strategy. Whilst cognisant of the current market backdrop, recent successes in the Corporate & Institutional Broking division led by Adam Pollock, coupled with the appointment last month of Stephen Ford as Head of Wealth Management, support the directors' belief in the robustness of both divisions of the Group in the years ahead. I look forward to updating shareholders in due course, as our plans progress."
Further Details
As part of the Placing, Polygon Global Partners Limited have subscribed for 3,320,752 Placing Shares, which increases their total holding to 11,582,878 Ordinary Shares. Polygon's interest includes a contract for difference in respect of 1,210,278 Ordinary Shares and accordingly Polygon are interested in, or hold exposure to, 29.84% of the Company's enlarged voting rights, assuming the contract for difference remains in place. 
In addition, M&G Investments Limited have subscribed for 1,890,365 Placing Shares, which increases their total holding to 6,415,444 Ordinary Shares and 14.96% 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 Shares subscribed for at the Placing Price


Total Shares held in the Company, assuming the Placing is completed


Total interest in the Enlarged Issued Share Capital




Phillip Wale, CEO
 


32,500


32,500


0.075%




Timothy Steel, Chairman


25,000


25,000


0.058%
 




Stephen Ford, Head of Wealth
 


111,111


176,111


0.41%




Adam Pollock, Head of CIB
 


22,222


245,1591


0.571%




 
As previously announced, application has been made to London Stock Exchange plc for the New Ordinary Shares to be admitted to trading on AIM. It is expected that admission will be effective, and dealings in the New Ordinary Shares will commence, at 8.00 a.m. on 22 March 2019.
For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of the Company following Admission will consist of 42,871,276 Ordinary Shares with voting rights attached (one vote per Ordinary Share). There are no Ordinary Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the DTRs.
For further information please contact:
 
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
Mark Brady/Miriam Greenwood                                                                                 +44(0) 20 3368 3551        
EU Market Abuse Regulation
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.




1


Details of the person discharging managerial responsibilities




a)


Name


Phillip Wale




2


Reason for the notification




a)


Position/status


Chief Executive Officer




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 instrument
Identification code


Ordinary shares of 0.5 pence each
 
GB0009241885




b)


Nature of the transaction


Acquisition by way of a Placing




c)


Price(s) and volume(s)






Price(s)


Volume(s)




45p


32,500




 




d)


Aggregated information
-   Aggregated volume
 -   Price


 
32,500
45p




e)


Date of the transaction


21 March 2019




f)


Place of the transaction


AIM




 




1


Details of the person discharging managerial responsibilities




a)


Name


Tim Steel




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 instrument
Identification code


Ordinary shares of 0.5 pence each
 
GB0009241885




b)


Nature of the transaction


Acquisition by way of a Placing




c)


Price(s) and volume(s)






Price(s)


Volume(s)




45p


25,000




 




d)


Aggregated information
-   Aggregated volume
 -   Price


 
25,000
45p




e)


Date of the transaction


21 March 2019




f)


Place of the transaction


AIM




 




1


Details of the person discharging managerial responsibilities




a)


Name


Stephen Ford




2


Reason for the notification




a)


Position/status


PDMR (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


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 instrument
Identification code


Ordinary shares of 0.5 pence each
 
GB0009241885




b)


Nature of the transaction


Acquisition by way of a Placing




c)


Price(s) and volume(s)






Price(s)


Volume(s)




45p


111,111




 




d)


Aggregated information
-   Aggregated volume
 -   Price


 
111,111
45p




e)


Date of the transaction


21 March 2019




f)


Place of the transaction


AIM




 




1


Details of the person discharging managerial responsibilities




a)


Name


Adam Pollock




2


Reason for the notification




a)


Position/status


PDMR (Head of CIB)




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 instrument
Identification code


Ordinary shares of 0.5 pence each
 
GB0009241885




b)


Nature of the transaction


Acquisition by way of a Placing




c)


Price(s) and volume(s)






Price(s)


Volume(s)




45p


22,222




 




d)


Aggregated information
-   Aggregated volume
 -   Price


 
22,222
45p




e)


Date of the transaction


21 March 2019




f)


Place of the transaction


AIM




 
 
 
1 45,159 Ordinary Shares are held through Adam Pollock’s SIPP with AJ Bell Securities. In addition, Adam holds a joint interest in 200,000 Ordinary Shares with the WH Ireland Group Employee Share Ownership Trust. Further details of this interest are set out in the announcement dated 31 May 2017 




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