10th Mar 2010 07:00
10 March 2010
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 pleased to announce that, as a result of substantial demand from staff, the Board has approved the issue of 30,018,500 ordinary shares of 0.25p each ("Ordinary Shares") at a price of 2 pence per Ordinary Share (the "Placing"). The Placing is being fully subscribed by Daniel Stewart staff and will raise £0.6 million in new capital to strengthen further the Company's balance sheet.
As part of the Placing, certain Daniel Stewart non-executive Directors are subscribing for new Ordinary Shares, as set out below:
Name New Ordinary Shares Resultant shareholding
Peter Dicks 1,487,500 1,527,500 0.38%
Stuart Lucas 1,062,500 2,062,500 0.51%
The issue of the new Ordinary Shares remains subject to the receipt by the Company of cleared subscription monies, expected no later than 23 March 2010, and application will be made for the new Ordinary Shares to be admitted to trading on AIM ("Admission") with dealings expected to commence on 26 March 2010.
Following Admission of the new Ordinary Shares detailed above, Daniel Stewart's issued share capital shall comprise 405,329,566 Ordinary Shares (excluding the new 50,000,000 Ordinary Shares to be issued as consideration for the acquisition of MENA-RL as announced on 18 February 2010.)
Peter Shea, Chief Executive Officer said:
"We are delighted with this ringing endorsement from our staff after the recent changes made."
Adam Wilson, Chief Executive Officer designate commented:
"We are very pleased at the confidence shown by our team for the future of the business"
Further information:
Peter Shea, Chief Executive Officer Daniel Stewart Securities PLC |
Tel: 020 7776 6550 |
Nick Tulloch Arbuthnot Securities Limited |
Tel: 020 7012 2000 |
Nick Rome/Siobhra Murphy Bishopsgate Communications |
Tel: 020 7562 3366 |
Notes to Editors:
About Daniel Stewart
Daniel Stewart Securities is an AIM-listed company providing a range of investment banking services to Small Cap publicly traded and non-publicly traded companies. The Group has two subsidiaries, Daniel Stewart and Company, the Group's principal operating subsidiary, which is authorised and regulated by the Financial Services Authority and is a member of the London Stock Exchange, and Daniel Stewart Capital, the Group's leasing and debt financing division.
Daniel Stewart is regulated by the FSA, is an AIM Nominated Adviser and PLUS Market corporate adviser, as well as being a regulated broker to both the Official List and AIM. It currently acts for approximately 50 AIM companies and is actively seeking to increase its client base with companies who will benefit from its specialised corporate advisory and institutional stock broking services.
Related Shares:
Daniel Stewart Securities Plc