14th May 2007 10:27
W.H. Ireland Group PLC14 May 2007 WH Ireland Group plc (the "Company" or "WH Ireland") Acquisition WH Ireland is pleased to announce that it has acquired a further 20,520 sharesin its subsidiary company WHI Australia Pty Ltd ("WHI Australia") for a totalconsideration of £344,715 (A$820,800). This now takes its shareholding to94,396 shares representing 76.5% of the issued share capital of WHI Australia. WHI Australia is the holding company of DJ Carmichael, the Perth basedstockbroker employing over 70 people in Australia. WH Ireland initiallyacquired 51% of WHI Australia on 30 June 2005 for a total consideration ofapproximately £1.3 million. On 12 July 2006 WH Ireland acquired a further11,017 shares in WHI Australia for a total consideration of approximately£0.17m, taking the Company's shareholding to 59.94%. In addition, as previouslyannounced, there is a put and call option arrangement in place which enables WHIreland to increase its investment in the Australian business as appropriate inthe future. DJ Carmichael recently opened an office in Melbourne and continues to perform inline with expectations having participated in a number of IPOs and secondaryfund raisings. For further information contact: Michael Frame Company Secretary 0161 832 2174 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WHIreland