17th Nov 2015 13:37
LONDON (Alliance News) - Investment bank Daniel Stewart Securities PLC on Tuesday said it has raised GBP650,000 via the issue of two convertible bonds, to be used for working capital purposes and to strengthen its balance sheet.
One bond of GBP350,000 has been issue to Epsilon Investments Pte Ltd, giving it the right to subscribe for up to 23.3 million shares in the company. Epsilon has also been granted a warrant to subscribe for 10.0 million Daniel Stewart shares at an exercise price of 1.5 pence per share.
A further GBP300,000 bond has been issued to Kilamanjiro Private Capital Pte Ltd, which will give it the right to subscribe for 20.0 million shares. It has also been granted a warrant to subscribe for up to 8.8 million shares at the same exercise price as the Epsilon warrant.
Daniel Stewart said it is continuing to work on finalising its upcoming share placing and will announce further details on this soon.
Shares in Daniel Stewart are currently suspended.
By Sam Unsted; [email protected]; @SamUAtAlliance
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