16th Feb 2010 12:24
16 February 2010
Daniel Stewart Securities PLC
("Daniel Stewart", "the Company" or "the Group")
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 it has conditionally placed 25,000,000 new ordinary shares of 0.25 pence each ("Ordinary Shares") with a new institutional investor at a price of 2 pence per Ordinary Share, raising £500,000 for the Company ("the Placing"), before expenses. The proceeds of the Placing will be utilised for general working capital.
Application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission") and dealings are expected to commence on 19 February 2010. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.
Following completion of the Placing, the institutional investor will be interested in approximately 7.4per cent. of the enlarged share capital of the Company. It is expected that the new institutional investor will make an announcement in relation to its holding in Daniel Stewart in due course. Following admission, Daniel Stewart's issued share capital will comprise 337,811,066 Ordinary Shares of 0.25 pence each.
Peter Shea, Chief Executive Officer, said:
"We are pleased at the renewed interest in Daniel Stewart. We believe that this is further confirmation of the market acceptance of our approach and is another step forward in the development of our business."
Adam Wilson added:
"I am pleased that we have early recognition of the improved offering by Daniel Stewart and we are sure that the confidence investors have shown will be rewarded."
Further information:
Peter Shea, Chief Executive Officer Daniel Stewart Securities PLC |
Tel: 020 7776 6550 |
Nick Tulloch Arbuthnot Securities Limited |
Tel: 020 7012 2158 |
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.
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