15th Jan 2016 17:38
LONDON (Alliance News) - Daniel Stewart Securities PLC on Friday said it has failed to find a new nominated adviser so far since the resignation of Beaumont Cornish Ltd.
Under AIM rules, Daniel Stewart has 30 days from December 21, 2015, to appoint a new nomad otherwise its shares will be delisted.
The company said that it has been unable to secure an appointment so far, and that if its shares are delisted it will examine alternative mechanism's to facilitate trading in the company's shares, including a potential future relisting.
"Although the decision has been somewhat taken out of our hands, becoming an unquoted company will give us time to put in place the right operational and financial structures while we determine the optimal listing status," Chief Executive Peter Shea said in a statement.
"We continue to strengthen our business generation team to pursue a broader range of mandates and our pipeline is already growing," he added.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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