6th Nov 2019 17:30
(Alliance News) - WH Ireland Group PLC said Wednesday it has raised GBP2.8 million through a placing, which is expected to help create "a significant buffer to its minimum regulatory capital requirement" and take its regulatory capital solvency ratio to more than 150%.
The wealth manager and corporate broker issued 5.8 million shares at a price of 48 pence per share, reflecting a 2% discount to its previous closing price on Tuesday at 49 pence.
Shares in WH Ireland - which is headquartered in London - closed 1.4% higher at 49.70 pence on Wednesday.
"We are delighted with the support from new and existing shareholders. This placing, along with the anticipation of a return to monthly profitability for the company by the start of the new financial year, will strongly position the group to exploit the opportunities available to it over the coming months from both a transactional and a recruitment perspective," said Chief Executive Officer Philip Wale.
By Dayo Laniyan; [email protected]
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