6th Mar 2015 09:15
LONDON (Alliance News) - Daniel Stewart Securities PLC on Friday said its shares have been restored to trading following the publication of its restated results for 2014.
The institutional stockbroker, wealth manager and corporate advisory in January said it has secured GBP1.5 million in new funding through two cash subscriptions and via a loan note agreement.
The company got into difficulties last year after it identified a shortfall in regulatory capital, and its shares were suspended as it sought new funding to strengthen its balance sheet. It gave up its nominated adviser business in an attempt to cut costs and narrow its focus.
The restated results only included a small rise in its loss of GBP72,819 due to higher costs and an increase in net assets.
Shares in the company are being restored at 0915 am GMT.
By Sam Unsted; [email protected]; @SamUAtAlliance
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