UPDATE 1-WH Ireland sells 39 pct stake in Australian unit - News

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UPDATE 1-WH Ireland sells 39 pct stake in Australian unit

By: AFX | 06 Nov 2009 | 03:08 AM ET

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* Agrees for a sale of 39.35 pct holding for A$1.3 mln * Co now owns a 37.28 pct shareholding in WHI Australia (Adds details) Nov 6 (Reuters) - British stockbroker W.H. Ireland Group said it agreed to sell its 39.35 percent holding in Australian unit for A$1.3 million ($1.16 million). The sale is being made to a group of investors mainly comprising the existing directors and employees of Perth-based stockbroking firm DJ Carmichael, a unit of W.H. Ireland Australia. W.H. Ireland now owns a 37.28 percent shareholding, representing 45,945 shares, in its Australian unit. For the six months ended May 31, the unit reported a consolidated net loss after tax of A$542,631. The consideration received on the disposal of the 48,500 shares is marginally below the carried value of those shares as at May 31. W.H. Ireland's shares closed at 59.5 pence on Thursday on the London Stock Exchange. ($1=1.096 Australian Dollar) (Reporting by Purwa Naveen Raman in Bangalore; Editing by Maju Samuel) Keywords: WHIRELAND/ (purwa.naveen@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: purwa.naveen.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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