W H Ireland Group (WHI)

Sector:

Financials

Index:

FTSE AIM All-Share

 4.25p
   
  • Change Today:
      0.000p
  • 52 Week High: 23.00
  • 52 Week Low: 3.50
  • Currency: UK Pounds
  • Shares Issued: 235.99m
  • Volume: 0
  • Market Cap: £10.03m
  • RiskGrade: 64

WH Ireland raises £5m in discounted placing, to stay loss-making until November

By Michele Maatouk

Date: Friday 28 Jul 2023

LONDON (ShareCast) - (Sharecast News) - Broker and wealth manager WH Ireland tanked on Friday after a heavily discounted share placing in which it raised £5m, as it warned it will likely remain loss-making until at least November.
The company placed just over 166.6m shares with institutional and other investors at 3p each, which is a discount of 87% to the closing share price on Thursday.

Explaining its decision to carry out the placing, WH Ireland said that in the three months to the end of June, it made a pre-tax loss of £1.1m on revenues of around £5.6m.

"The loss in the period is as a result of the widely reported multi-year low level of transactional activity in the financial capital markets that has impacted the group's Capital Markets division (CM), alongside a reduction in assets under management (AUM) for the group's Wealth Management division (WM), in part due to weaker market conditions impacting client portfolio size," it said.

"With market conditions remaining challenging, including transactional activity in the CM division being typically at seasonally lower levels during the summer months, the directors do not believe that there will be an improvement in CM transactional activity during the current quarter nor do the directors believe there will be an uplift in AUM within the WM division over the same period. The directors therefore believe the group will remain loss making until at least November 2023."

WH Ireland said that before the placing, it had been in talks with the Financial Conduct Authority about a potential solvent wind down. The broker noted that its current regulatory capital position is around £1.9m below the FCA's regulatory capital requirement.

At 1300 BST, the shares were down 63% at 8.40p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

WHI Market Data

Currency UK Pounds
Share Price 4.25p
Change Today 0.000p
% Change 0.00 %
52 Week High 23.00
52 Week Low 3.50
Volume 0
Shares Issued 235.99m
Market Cap £10.03m
RiskGrade 64

WHI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
16.85% above the market average16.85% above the market average16.85% above the market average16.85% above the market average16.85% above the market average
21.15% above the sector average21.15% above the sector average21.15% above the sector average21.15% above the sector average21.15% above the sector average
Price Trend
92.84% below the market average92.84% below the market average92.84% below the market average92.84% below the market average92.84% below the market average
96.58% below the sector average96.58% below the sector average96.58% below the sector average96.58% below the sector average96.58% below the sector average
Income Not Available
Growth
87.46% below the market average87.46% below the market average87.46% below the market average87.46% below the market average87.46% below the market average
83.02% below the sector average83.02% below the sector average83.02% below the sector average83.02% below the sector average83.02% below the sector average

WHI Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 12-Mar-15
Paid n/a 10-Apr-15
Amount 0.000p 2.00p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

WHI Key Personnel

CEO Phillip Wale
CFO Simon Jackson

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