Oberon Investments - Oberon to acquire WH Ireland’s Wealth Business

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

Oberon Investments Group plc

("Oberon", or the "Company")

22 September 2025

Proposed Acquisition of WH Ireland's Wealth Management Business

Oberon, the boutique wealth management and corporate broking group, is pleased to announce that Oberon Investments Limited has entered into a conditional asset purchase agreement ("APA") with WH Ireland Limited ("WH Ireland") for the acquisition (the "Acquisition") of the business and certain assets of WH Ireland's wealth management division (the "Business") for a cash consideration of £1 million, payable on completion.

Highlights

·      Acquisition of WH Ireland's wealth management division for a cash consideration of £1 million

·      Approximately £850m of client Assets under Administration are expected to transfer over on completion of the acquisition

·      Following on from the Company's announcement of 5 September 2025, Oberon has now successfully issued convertible loan notes ("CLNs") with an aggregate principal amount of £3.0 million. Together with the previously announced equity raise of approximately £1.58 million, the Company has now raised a total of approximately £4.58 million (before expenses) in recent weeks.  This combined funding further enhances the Group's financial position, providing additional flexibility to support the integration of the Business and to accelerate the Group's wider growth strategy

·      The APA provides for the parties to enter into a Transitional Services Agreement to facilitate continuity of services and support a smooth transition for WH Ireland's clients and employees during the integration period

·      Offices in Manchester and Poole to be added to Oberon's existing London HQ and back office in Basildon, broadening regional presence and client access

·      WH Ireland's experienced investment managers, advisers, and operational teams will join Oberon, providing clients with seamless continuity and the reassurance of trusted relationships

·      WH Ireland's clients will benefit from the broader resources and expertise of Oberon's growing full-service boutique platform, while continuing to work with their existing advisers

·      Completion of the Acquisition is conditional upon approval of the Acquisition by WH Ireland Group plc's shareholders at a general meeting in accordance with the requirements of AIM Rule 15 and the novation of a key supply contract relating to the Business

·      Completion is expected to take place in October 2025 assuming all conditions are satisfied in a timely manner.

Financial & Strategic Rationale

Approximately £850 million of Assets under Administration are expected to transfer to Oberon as part of the Acquisition, further strengthening the Group's wealth management division.

Oberon has enjoyed sustained growth over recent years, built on a strong foundation of discretionary investment management, corporate broking, and specialist funds. WH Ireland's wealth management business will be a natural addition to this platform, enhancing the breadth of services available to clients while preserving the personal relationships and high levels of service they value.

The Transaction will:

·      Expand Oberon's national footprint with established offices in Manchester and Poole, complementing its London HQ and back office in Basildon

·      Bring across an experienced and well-regarded team of investment managers and operational staff who will continue to support their clients

·      Provide clients with access to the broader resources, infrastructure, and investment capabilities of a growing, full-service boutique

·      Deliver operational efficiencies by integrating WH Ireland's business into Oberon's established systems and platform.

For WH Ireland clients, this means continuity, stability, and reassurance: the same advisers they know and trust will remain their point of contact, backed by the wider support and investment expertise of the Oberon Group. For shareholders, the transaction reflects Oberon's measured and sustainable growth strategy - building scale while retaining the agility and client focus of a boutique wealth manager.

Simon McGivern, CEO of Oberon, said:

"This agreement marks a positive and natural development for Oberon. We have built a strong and sustainable base as a full-service boutique, and welcoming WH Ireland's clients and client teams to our business and culture further strengthens that foundation.

Clients can be reassured that they will continue working with the same trusted advisers, now supported by the broader resources and infrastructure of the Oberon Group. At the same time, our new colleagues from WH Ireland will be joining a business that is committed to growth while remaining personal, agile, and client-focused.

With offices in Manchester and Poole joining our London base, Oberon will now have a stronger national footprint and an even deeper pool of expertise to support clients across the UK. We are excited about the future together."

Further Details on the Acquisition

The APA sets out the terms on which WH Ireland (the Seller, and a subsidiary of WH Ireland Group plc) will sell its wealth management business and related assets to Oberon Investments Limited (the Buyer, and a subsidiary of the Company) for £1,000,000, payable in cash upon completion.  The obligations of Buyer and Seller are guaranteed by their respective parent companies, including various indemnities and warranties. The assets transferred (and those excluded) are clearly defined in the APA. The APA also provides for entry into a transitional services agreement pursuant to which various services relating to the acquired business will continue to be made available to the Buyer for a period post-completion to ensure that Oberon can continue to operate the business whilst the clients are transitioned onto its systems.

Completion is conditional on WH Ireland Group plc shareholder approval (pursuant to AIM Rule 15 of the AIM Rules for Companies which WH Ireland Group plc is subject to) and the novation of a key supply contract relating to the Business. Both Buyer and Seller have post-completion obligations regarding client notifications, branding, and transitional services (which will be separately governed by a transitional services agreement).

Further Details on the Convertible Loan Notes

The Company has raised £3.0 million through the issue of unsecured CLNs due for repayment (if not previously converted) in September 2028. The CLNs bear interest at 12% per annum and are convertible into new Ordinary Shares at a price of £0.0425 per Ordinary Share. The Company can elect to repay the CLNs in full or part at any time subject to giving 10 business days' notice to the noteholder. Existing share authorities are sufficient to allow the allotment and issue of the CLNs including any interest to be paid in kind.

The directors of Oberon accept responsibility for this announcement.

END.

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