Killingbeck is a veteran having over 25 years of investment management and private banking experience and had joined WH Ireland on 18 September 2012 as the head of private wealth management.
Currently, Richard holds 725,000 ordinary shares in the capital of the company representing 3.06% of the company’s total voting rights.
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Further, the company has also entered into a binding commitment with Richard to grant him options over a further 473,787 shares which, upon grant, will be exercisable for a period starting on the third anniversary of grant, and ending on the tenth anniversary of grant.
WH Ireland Limited’s funds under management as at 30 November 2012, are increased by 200%; and the annual profit of the private wealth management division of WH Ireland Limited becomes equal to or greater than GBP5 million, in which case, the exercise price will change to GBP0.01 per share.
WH Ireland intends to grant these options on or before Richard’s appointment to the board on 1 December 2012.
Paul Compton, chief executive of WH Ireland, commented: "I am pleased to welcome Richard to the WH Ireland Board as head of Private Wealth Management. Richard’s recent share purchases and option hurdles underline his ambitions for the firm."
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