WHIreland Regulatory News (WHI)

This announcement contains certain inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

10 February 2025

WH Ireland Group Plc

("WH Ireland", "WHI" or "the Group")

Henley Office

WH Ireland confirms that in line with the Group's stated focus on achieving sustainable profitability through the further streamlining of its central functions and costs, whilst also assessing strategic opportunities for the Group as they arise, its subsidiary, WH Ireland Limited ("WHIL") entered into an agreement on 7 February 2025 with Verso Wealth Management Limited ("Verso") that enables Verso to market its services to certain clients of WHIL's loss making Henley office and WHIL has also agreed to assist Verso in contacting these clients.

Some of WHIL's Henley financial planning team have already joined Verso and under the terms of the agreement WHIL is now allowing this team to participate in the Verso marketing activity earlier than otherwise permitted under their original contractual terms with WHIL.

The portfolio subject to this marketing activity, in aggregate, is c.£152m of the Group's Assets Under Management.

In consideration for these arrangements, WHIL will receive cash payments linked to any revenue generated from the WHIL's clients that transfer to and utilise certain of Verso's services during the period from the date of this agreement to 20 June 2025; with the maximum aggregate amount payable by Verso under this arrangement being £0.5m.

WH Ireland will also be surrendering its Henley office lease by the end of May in order to reduce its cost base and focus its Wealth Management operations in London, Manchester and Poole.

Additional Disclosures

It is intended that any payments received by WHIL in connection with these arrangements will be applied to the working capital of the Group.

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