27th Mar 2012 07:00
27 March 2012
DANIEL STEWART SECURITIES PLC
('Daniel Stewart' or 'the Company')
ISSUE OF EQUITY
Daniel Stewart (AIM: DAN.L), stockbroker and corporate finance adviser to smaller and medium-sized companies, is today pleased to announce that Jade Global Investments Limited ("Jade"), a financial services company based in China, has subscribed for 10,000,000 new ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") at a price of 2.5 pence per Ordinary Share. The proceeds of the Placing will be utilised for general working capital. Following this issue, Jade will hold 29,400,000 Ordinary Shares amounting to 5.65% of the enlarged issued share capital of the Company.
Application will be made for the new Ordinary Shares to be admitted to trading on AIM ("Admission") and dealings are expected to commence on 30 March 2012. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.
.Peter Shea, Chief Executive Officer said:
"This is an important investment for the Company in that it demonstrates the success to date of our strategy to grow our business in Asia. Our permanent presence has led to significant interest from the small and mid-cap community in the region. We have a pipeline of high quality companies for whom we are working to find capital on a global basis to exploit the opportunity for growth that Asia now presents."
Peter Shea, Chief Executive Officer
Daniel Stewart Securities plc Tel: +44 (0)20 7776 6550
Westhouse Securities Limited (Nominated Adviser) Tel: +44 (0)20 7601 6100
Richard Johnson / James Steel
Tavistock Communications Tel: +44 (0)20 7920 3150
Lydia Eades
Following Admission, Daniel Stewart's issued share capital will comprise 519,902,579 Ordinary Shares, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. The Company does not hold any Ordinary Shares in treasury.
Related Shares:
Daniel Stewart Securities Plc