23rd Oct 2015 11:24
LONDON (Alliance News) - Daniel Stewart Securities PLC on Friday said it is continuing work on a funding package to allow it to publish its accounts for its last financial year, with shares in the investment bank to remain suspended in the meantime from trading on AIM.
"The company is making progress on the funding package and expects to announce its conclusion shortly," Daniel Stewart said in a statement.
Shares in Daniel Stewart were suspended on October 1 as a result of the company's failure to publish its annual report and accounts for the year ended March 31. Under AIM stock exchange rules companies must publish annual audited accounts which must be sent to shareholders no later than six months after the end of the relevant financial year. The exchange suspends companies that are late in doing so.
It had previously said it expected a GBP1.4 million loss for that financial year due to an "upwards revision of bad debtor write offs by GBP500,000" on revenue of about GBP3.9 million.
At that stage the company was still working towards publishing its accounts by the close of business on September 30.
By Samuel Agini; [email protected]; @samuelagini
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