TIDMWHI
RNS Number : 9196G
W.H. Ireland Group PLC
30 November 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (EU No. 596/2014) ("MAR"). THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
WH Ireland Group Plc
("WH Ireland" or the "Company")
Result of Placing
Notice of General Meeting
Related Party Transaction
PDMR Notification
The Company is pleased to announce that it has raised gross
proceeds of GBP5.3 million as result of the fundraising announced
earlier today (the "Placing").
A total of 13,250,000 new ordinary shares in the capital of the
Company ("Placing Shares") have been conditionally placed by WH
Ireland Limited with new and existing investors at a price of 40
pence per share (the "Issue Price").
The Placing is subject to, inter alia, shareholder approval. The
Placing Price represents a discount of approximately 3.6 per cent
to the closing price of WH Ireland's existing ordinary shares of
41.5 pence on 27 November 2020 (being the last business day prior
to the announcement). The Placing Shares represent approximately 21
per cent. of the Company's enlarged issued share capital.
The Placing proceeds will be used to fund the acquisition of
Harpsden Wealth Management Limited, an independent financial
advisory and wealth management company, as described in the
Company's announcement this morning.
Related Party Transaction
Certain shareholders, being substantial shareholders in the
Company as defined in the AIM Rules, have conditionally agreed to
participate in the Placing as follows:
As at the Last Practicable Placing On Admission
Date
Ordinary Percentage Number of Ordinary Percentage
Shares of Issued Placing Shares of Issued
Share Capital Shares Share Capital
(%) (%)
-------------- --------------- ---------- ----------- ---------------
Polygon Global
Partners LLP 14,543,522(1) 29.85% 4,032,500 18,576,022 29.97%
-------------- --------------- ---------- ----------- ---------------
M&G Investment
Management
Ltd 7,301,333 14.98% 1,990,000 9,291,333 14.99%
-------------- --------------- ---------- ----------- ---------------
1. including 1,310,278 held by way of various CFDs
Philip Shelley, Phillip Wale, Simon Lough and Stephen Ford being
directors of the Company and therefore related parties to the
Company as defined in the AIM Rules, have conditionally agreed to
subscribe for an aggregate of 627,195 Placing Shares in the Placing
as detailed below:
Name Role Number of Number of Percentage
Placing Shares Ordinary Shares of the Enlarged
held following Share Capital
Admission (%)
Non-Executive
Philip Shelley Chairman 374,978 1,447,993 2.34%
--------------- ---------------- ----------------- -----------------
Phillip Wale CEO 18,000 130,000 0.21%
--------------- ---------------- ----------------- -----------------
Executive
Director and
Stephen Ford Head of WM 109,217 479,217 0.77%
--------------- ---------------- ----------------- -----------------
Non-Executive
Simon Lough Director 125,000 454,583 0.73%
--------------- ---------------- ----------------- -----------------
The participation of certain Directors (or their associates) and
certain substantial shareholders in the Placing is a related party
transaction for the purpose of Rule 13 of the AIM Rules. The
Independent Directors (being those Directors who have not
participated in the Placing) consider, having consulted with Spark
Advisory Partners Limited, the Company's Nominated Adviser, that
the terms of the transaction are fair and reasonable insofar as
shareholders are concerned.
Further information contained in the appendix to this
notification is disclosed in accordance with the requirements of
the EU Market Abuse Regulation.
General Meeting
The Company also confirms that it will dispatch a Circular and
notice of general meeting to convene a meeting of shareholders at
24 Martin Lane, London EC4R 0DR at 10.00 a.m. on 18 December 2020
for the purpose of considering and, if thought fit, passing certain
resolutions to give effect to the Placing and the Conditional
Acquisition.
The Circular will set out arrangements for the General Meeting
in light of the current British Government restrictions placed on
public gatherings in response to the COVID-19 outbreak. Under the
current prohibition on non-essential travel and public gatherings,
it will not be possible for Shareholders to attend the General
Meeting in person. Shareholders are strongly urged to vote by proxy
in advance of the deadline by completing their form of proxy in
accordance with the instructions and further details are set out in
the Circular and the form of proxy. The Company will continue to
monitor the restrictions in place in response to COVID-19 and, if
circumstances change, it will consider if it is appropriate to open
the Annual General Meeting for attendance by shareholders in
person. If this is the case, an update will be given on the
Company's website and an announcement will be made via a Regulatory
Information Service.
Copies of the circular will shortly be posted to shareholders
tomorrow and will be available from that date on the Company's
website: www.whirelandplc.com
Admission to Trading on AIM
Application will be made to the London Stock Exchange for
admission to trading of the Placing Shares on AIM. Subject to the
Resolutions being passed at the General Meeting, it is expected
that settlement of any such shares and Admission will become
effective on or around 21 December 2020 and that dealings in the
Placing Shares will commence at that time.
.
For further information please contact:
WH Ireland Group plc www.whirelandplc.com
Phillip Wale, CEO +44(0) 20 7220 1666
SPARK Advisory Partners Limited
Andrew Emmott +44 (0) 20 3368 3555
MHP Communications
Reg Hoare / James Bavister +44 (0) 20 3128 8793
Asgard Partners
Alexander Rix +44 (0) 20 7653 9011
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 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 Ordinary shares of 5p
instrument GB0009241885
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Conditional purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) 18,000 ordinary shares at 40p
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information 18,000 ordinary shares
* Aggregated volume 40p
* Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 30 November 2020
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
-----------------------------------------------------------------------------------------------------------------
a) Name Phillip Shelley
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary shares of 5p
instrument GB0009241885
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Conditional purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) 374,978 ordinary shares at 40p
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information 374,978 ordinary shares
* Aggregated volume 40p
* Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 30 November 2020
-------------------------------------------------------- -------------------------------------------------------
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 and Head of WM
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary shares of 5p
instrument GB0009241885
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Conditional purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) 109,217 ordinary shares at 40p
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information 109,217 ordinary shares
* Aggregated volume 40p
* Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 30 November 2020
-------------------------------------------------------- -------------------------------------------------------
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 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 Ordinary shares of 5p
instrument GB0009241885
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Conditional purchase of Ordinary Shares (subject only
to GM)
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) 125,000 ordinary shares at 40p
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information 125,000 ordinary shares
* Aggregated volume 40p
* Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 30 November 2020
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------------------------------------- -------------------------------------------------------
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END
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