News blog
WH Ireland
- BY: Andrew Hore |
- POSTED: 01/04/2008 |
A consortium is taking a 26% stake in broker WH Ireland.
WH Ireland believes that the consortium members have useful experience of its existing areas of operation and other financial services.
The consortium includes former Southampton Football Club chairman Rupert Lowe. The other members are Lord Marland, David Ross and Andrew Scott.
The consortium has acquired 9.94% of the broker from existing directors at 100p a share. It intends to buy more shares, some from existing shareholders and some newly issued, that will take the stake up to 26.05% - they will also cost 100p each. The broker’s existing directors and the employee share scheme will still own 19.34%.
Sir David Trippier and John Lawrence will step down from the board and be replaced as non-executives by Lord Marland, a founding director of Jardine Lloyd Thompson, and Rupert Lowe. Once the full stake has been acquired another consortium member will become a non-executive.
The shares rose 1p to 108.5p.
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