W.H. Ireland Group PLC Henley Office
10 2월 2025 - 4:00PM
RNS Regulatory News
RNS Number : 4927W
W.H. Ireland Group PLC
10 February 2025
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.
10 February 2025
WH Ireland Group
Plc
("WH Ireland", "WHI" or "the
Group")
Henley
Office
WH Ireland confirms that in line
with the Group's stated focus on achieving sustainable
profitability through the further streamlining of its central
functions and costs, whilst also assessing strategic opportunities
for the Group as they arise, its subsidiary, WH Ireland Limited
("WHIL") entered into an
agreement on 7 February 2025 with Verso Wealth Management Limited
("Verso")
that enables Verso to market its services to
certain clients of WHIL's loss making Henley office and WHIL has
also agreed to assist Verso in contacting these clients.
Some of WHIL's Henley financial
planning team have already joined Verso and under the terms of the
agreement WHIL is now allowing this team to participate in the
Verso marketing activity earlier than otherwise permitted under
their original contractual terms with WHIL.
The portfolio subject to this
marketing activity, in aggregate, is c.£152m of the Group's Assets
Under Management.
In consideration for these
arrangements, WHIL will receive cash payments linked to any revenue
generated from the WHIL's clients that transfer to and utilise
certain of Verso's services during the period from the date of this
agreement to 20 June 2025; with the maximum aggregate amount
payable by Verso under this arrangement being £0.5m.
WH Ireland will also be surrendering
its Henley office lease by the end of May in order to reduce its
cost base and focus its Wealth Management operations in London,
Manchester and Poole.
Additional Disclosures
It is intended that any payments
received by WHIL in connection with these arrangements will be
applied to the working capital of the Group.
For
further information please contact:
|
WH
Ireland Group plc
|
www.whirelandplc.com
|
|
Phillip Wale, CEO
|
+44(0) 20 7220 1666
|
|
Zeus
Capital Limited (Nominated Adviser and broker)
|
|
|
Katy Mitchell / Harry Ansell / James
Bavister
|
+44(0) 203
829 5000
|
|
MHP
Communications
Reg Hoare
|
|
|
+44
(0) 7831 406117
whireland@mhpgroup.com
|
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END
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