AGM Statement

RNS Number : 3052F

W.H. Ireland Group PLC

21 April 2011

 



Press release

21 April 2011

WH Ireland Group plc

("WH Ireland" or "the Company")

AGM Statement

Rupert Lowe, Chairman of WH Ireland, will make the following announcement to shareholders at the Annual General Meeting of the Company to be held at 10.30am today:

"WH Ireland has operated profitably since September 2010 and this, together with an ongoing programme of realising cash for certain of its historical investments, has significantly strengthened the balance sheet.  Whilst central overhead costs continue to be reduced the Company has made significant hires in equity sales, bond trading and equity market making and also now operates a market making desk. These hires are already making a positive contribution to revenue.

"Since September 2010 the Company has successfully carried out nineteen equity raisings for its corporate clients totalling £50 million, by comparison with £20 million for the previous two years.  This strength in fundraising ability together with the Government's recent initiatives announced in the budget, on enhancing EIS and VCT reliefs, promise more activity at the smaller end of the equity market where WH Ireland is particularly strong.  We expect good quality small companies increasingly to source their finance for future growth from the equity capital markets and we are well placed to provide the conduit for our private client investors to take advantage of the best opportunities.

"Under the leadership and direction of our Chief Executive, Paul Compton, we are now looking forward with cautious optimism."

- Ends -

For further information please contact:

WH Ireland Group plc	[phone]
Rupert Lowe
Panmure Gordon (UK) Limited	[phone]
Hugh Morgan/Abhishek Majumdar (Corporate Finance)
Adam Pollock (Corporate Broking)
Abchurch Communications	[phone]
Joanne Shears / Oliver Hibberd

 

END

 

 

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