WH Ireland hires chair and director, allowing three directors to leave

(Alliance News) - WH Ireland Group PLC on Thursday said it has appointed a new non-executive chair and non-executive director, allowing three independent non-executive directors to leave as previously announced at the end of July.

The London-based stockbroker and wealth manager said it appointed Simon Moore, effective immediately but subject to UK Financial Conduct Authority approval, alongside Garry Stran as a non-executive director.

Accordingly and as previously announced, WH Ireland said this has allowed Simon Lough, Helen Sinclair and Tom Wood to step down from the board with immediate effect.

At the end of July, they had signalled their intentions to resign, as WH Ireland said the appointment of new non-executive directors would allow it to "develop an appropriate fresh strategy for the company".

At the time, WH Ireland also raised GBP4.9 million from a share placing, saying it would use the fresh cash to fund a cost-cutting exercise and retention bonuses, as well as to meet regulatory capital requirements.

"I would like to welcome Simon Moore and Garry Stran to the board and I am looking forward to working with them as we focus on the next stage of the company's development. Their experience will strengthen the board's skillset and ensure we have stable governance as we navigate challenging markets," said Chief Executive Officer Phillip Wale.

"I would also like to thank Simon Lough, Helen Sinclair and Tom Wood for their significant effort and support over the last few years culminating in the company's recapitalisation."

Shares in WH Ireland were untraded at 4.50 pence each in London on Thursday afternoon.

By Greg Rosenvinge, Alliance News senior reporter

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