Paragon SID to step down

SOLIHULL-based Paragon Group has announced that Edward Tilly is to retire from its board as Senior Independent Director.

Tilly, who had told the board last month of his intention to step board, will relinquish his post with effect from July 1, 2015 and his successor as SID will be Fiona Clutterbuck.

Tilly has been a director of the company since 2008, serving for over two years as chairman of the Remuneration Committee, before becoming SID in July 2011.

Bob Dench, Paragon chairman, said: “Ted’s experience and wisdom have been invaluable and his presence on the board will be sadly missed.  On behalf of the board, I thank Ted for his enormous contribution over the past seven years and wish him well for the future.”
 

New share placing for Hummingbird

BIRMINGHAM-registered gold exploration company, Hummingbird Resources, is to raise £500,000 through a new share placing.

It will place 1,515,152 new ordinary shares at 33p per share with a long term shareholder who is an affiliate of Sprott Inc. The funds raised will be used to support Hummingbird’s Yanfolila Gold Project in Mali to near-term production and for working capital purposes.  
 
Dan Betts, CEO of Hummingbird Resources, said: “Sprott is a long term shareholder in Hummingbird and we are delighted that following a recent site visit they are supporting the Company in this placing. Sprott has a long track record of successful investments in the natural resources sector and their investment is a further endorsement of our strategy.”

Halfords announces details of AGM

HALFORDS has made arrangements to send its annual report and full year accounts to shareholders.

The Redditch-based retailer has also announced that its Annual General Meeting will be held at the Hilton Garden Inn, 1 Brunswick Square, Brindley Place, Birmingham, B1 2HW on Thursday July 30, 2015, beginning at 11.30 am.
 

Strong first half for WH Ireland

WEALTH manager WH Ireland has announced a stronger first half compared with the same period last year.

In a trading update for its half year ended May 31, 2015, the company said its Private Wealth Management division had continued to grow its asset base and at the end of the trading period, total assets under management and administration had risen to £2.8 billion (November 30, 2014: £2.7bn). Of this total, discretionary assets have risen to in excess of £800m (November 30, 2014: £700m).

Management fee income, reflecting this ongoing improvement to the firm’s asset mix, has grown significantly when compared with the same period a year ago.

The Corporate Broking division has also continued to grow its corporate client base. At the half year, it was retained by 98 corporate clients (92 for H1 2014) and as a consequence, its recurring retainer fee income has continued to increase. Success fees are above those achieved last year, although market making, while positive, is lower than the same period a year ago.  

Richard Killingbeck, Chief Executive, said: “Both our divisions have had good half years, with strong progress in their respective key metrics: increased discretionary funds under management in Private Wealth Management and increased numbers of clients in Corporate Broking.  We look forward to making further progress in the balance of the year.”