WHIreland Regulatory News (WHI)

04 May 2021

WH Ireland Group Plc

("WH Ireland" or the "Company" and with its subsidiaries the "Group")

Board Changes

Additional Participation in NED Share Scheme

WH Ireland (AIM: WHI) is pleased to announce the appointment of Helen Sinclair as a Non-Executive Director of the Company, with effect from 4 May 2021. At the same time, Victoria Raffé has informed the Board of her intention to retire as Non-Executive Director of the Company at the forthcoming AGM (anticipated to be in July 2021). 

Helen is a highly experienced non-executive director having served on a number of audit, remuneration and investment committees. Prior to her focus on non-executive director roles, Helen co-founded and ran Matrix Private Equity (now Mobeus Equity Partners LLP); a successful private equity firm, with a focus on SMEs. Helen has a thirty-year track record as an investor, board member and board observer in a range of sectors, including early stage technology/digital media, retail and consumer and financial services with considerable expertise in alternative asset management.

Helen Sinclair, Non-Executive Director commented: "I am delighted to join WH Ireland as a Non-Executive Director. I believe that the team at WH Ireland has a clear opportunity to grow both the Wealth Management and Capital Markets businesses by delivering high quality service to their customers in rapidly changing markets. In particular, WH Ireland is building a strong reputation supporting growing companies in both the private and public markets, and I very much look forward to helping them develop this vital offering to growth companies in the UK."

Commenting on today's announcement, Victoria Raffé said:

"Having been a Non-Executive Director of WH Ireland for four years I have seen its successful turnaround largely completed. This included significant operational change and has resulted in a stronger, higher quality business that has returned to growth. I have also seen the regulatory framework in the business develop to provide the strong platform needed to support that growth. In short, WH Ireland is a very different company to the one I joined, for which the whole team deserves great credit. Now is therefore a good time for me to hand over to Helen, and I wish her and the Company every success for the future."

Commenting on today's announcement, Phil Shelley, Chair of WH Ireland, said:

"I am delighted to welcome Helen to the WH Ireland Board. She brings a wealth of experience in private markets as well as a strong understanding of the risks companies face as they grow. Both these areas of experience will be invaluable to us as we develop our business.

At the same time, I will miss Victoria's wise counsel. She has been an invaluable source of expertise as we have built a regulatory, compliance and risk framework for the Group that is supporting our growth and success. We wish her well for the future."

Additional Participation in NED Share Scheme

In addition, the Company is pleased to confirm that Helen Sinclair, as the newest Non-Executive Director of the Company has today agreed to receive ordinary shares in the Company in lieu of 25 per cent of the fees (being a total of c.£6,000) that would otherwise be due to be paid to her by the Company in respect of the seven month period commencing on 1 May 2021 and ending on 30 November 2021. The number of ordinary shares will be determined on the basis of the volume weighted average of the middle market quotations for one ordinary share for the 30 consecutive trading days ending on 30 May 2021 (for the first tranche, being one month) and on the basis of the volume weighted average of the middle market quotations for one ordinary share for the 30 consecutive trading days ending on 30 November 2021. These are the same terms as that agreed with the other Non-Executive Directors (see announcement dated 11 March 2021).

In accordance with the agreement with Polygon Global Partners LLP ("Polygon"), announced on 17 October 2017, Polygon has consented to this arrangement.

A further announcement will be made when the relevant shares are issued.

Further disclosures pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies:

Helen Rachelle Sinclair, age 55, is currently or has previously been a director of the following companies within the past five years:

Helen Sinclair has no beneficial interest in the equity securities of WH Ireland Group Plc.

Save as disclosed above, there is no further information to be disclosed pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

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