WHIreland raises over £9.5 million through an oversubscribed placing for Redhall Group PLC

WHIreland is delighted to have acted as sole broker to Redhall Group plc (“Redhall”) on its placing (via an Accelerated Book Build) to raise over £9.5 million in a deal which also saw £3.75 million of existing debt converted into equity.

Redhall, a high integrity manufacturing and specialist services group, will use the net proceeds to ensure it has sufficient working capital to deliver the growing order book and pipeline, to expand its operations, as well as ensuring sufficient capacity and resource to take on larger orders.

Phil Brierley, CEO said: “WHIreland executed a very well run process for which we extend our thanks to everyone involved.  We were delighted that the shares were placed at an 11 per cent. premium to the prevailing market price.”

Adam Pollock, Head of Corporate and Institutional Broking said: “This deal is our sixth fundraise of the year, and was completed in challenging market conditions due to the ongoing political uncertainties and the backdrop of the UK General Election. The oversubscribed fundraising, which was placed at a premium, further demonstrates WHIreland’s distribution capabilities in the small cap arena.”