W.H. Ireland Group PLC
12 July 2006
W H Ireland Group plc ('the Company' or 'W.H. Ireland')
Acquisition of further stake in WHI Australia Pty Ltd
W H Ireland is pleased to announce that it has acquired a further 11,017 shares
in its subsidiary company WHI Australia Pty Ltd ('WHI Australia') for a total
consideration of £169,214 (A$413,137). This now takes its shareholding to 73,876
shares representing 59.94% of the issued share capital of WHI Australia.
WHI Australia is the holding company of DJ Carmichael, the Perth based
stockbroker employing over 70 people in Australia. W H Ireland initially
acquired 51% of WHI Australia on 30 June 2005 for a total consideration
of approximately £1.3 million. In addition, as previously announced, there is a
put and call option arrangement in place which enables W H Ireland to increase
its investment in the Australian business as appropriate in the future.
Laurie Beevers, Chief Executive, commented:
'We have been delighted with the performance of our colleagues in Australia
since June 2005 and are pleased to consolidate our relationship with DJC still
further'.
For further information contact:
Derek Ashford 0161 832 6644
Finance Director
This information is provided by RNS
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