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Will peter shea buy back my shares/?
Ok, just heard back from Peter Shea - "Please see the Daniel Stewart website under DSS shareholders for an update." The update on DSS shareholders is as follows: "Dear Shareholder, Following on from the delisting of Daniel Stewart Securities (DSS) from AiM and In order to safeguard the business of its subsidiary, Daniel Stewart & Co, Daniel Stewart Securities had to arrange funding to re-establish the necessary regulatory capital. Such regulatory capital is required to be provided in the form of permanent equity. It was also apparent that, in order for the business of Daniel Stewart & Co to continue after re-establishing it’s regulatory capital, it would need further funding to finance ongoing losses until stabilisation could be completed. Again such funding would be required to be in the form of permanent capital. We have now received approval from the FCA for such funds as have been provided to be converted into equity of Daniel Stewart & Co. The resultant position is that Daniel Stewart Securities now owns approximately 10% of Daniel Stewart & Co. The situation is such that Daniel Stewart Securities is effectively a cash shell and we will now begin the process of trying to establish some value for shareholders utilising the shell. We believe that we should try to establish a public market for the trading of the shares at the earliest opportunity and as such we will examine the possibility of listing Daniel Stewart Securities on the Standard section of the full list as a cash shell. Should we achieve this we will then seek a suitable business to reverse into it. You should all be aware that a listing on the LSE has a cost and a minimum cash available requirement. At present Daniel Stewart Securities does not have sufficient resources to undertake such a listing."
I have also just emailed Peter Shea and Co. Had emailed them sometime back as well but no response, so am not expecting anything this time as well. Any suggestions on how to legally pursue them; perhaps through the financial ombudsman?
Have just emailed again, to Peter Shea and all other Daniel stewart emails i could find on the website.
Hi. I emailed them a couple of weeks ago and haven't had any respsonse yet. Would be nice to hear something
Swimmer, still no reply? Maybe a few more interested party could add weight to the process?
I have e-mailed the company a couple of times in 2017 with no response. Has anyone else had anything from the company ?
Three posts in under a month, so investors do remember DAN. Hopefully some good may come of it?
Anyone got any info from other boards/sources?
Can we force there hand? Its a Joke now.
http://docs.google.com/spreadsheets/d/11gQGAnK5gFOpnpEXG0K-HpQDv_QRh5-7V-Y9
O/T Since Brexit ftse350
Sooner or later this company has to do something regarding there intentions using shareholders funds,be it bad or good.Its unfortunate that it is being stretched out until its forced.This is only my tuppence worth but a severe lack of communication towards its benefactors regarding a small write up on there homepage then radio silence.
Not a lot.
I really hope these do relist some day. Too much bad luck with this and NEW! My only current upside is, that my BOS shares have finally exploded today, and with the convertible loan notes, looks like it is going to mutibag IMHO
= toast.
http://www.danielstewart.co.uk/about/faqs/ "Will Daniel Stewart relist? Following consultation with key advisers and major shareholders, the Board of Directors concluded that it was in the Company’s best interest to cancel its AIM listing and this took effect in January 2016. We are aware that a number of smaller individual shareholders are keen to have some form of dealing facility in place in order to facilitate a level of liquidity. However, in the short to medium term, becoming a private company will give us the breathing space to put in place plans for the future development of the business and allow us the time to determine the optimal listing or dealing status for our shares. The Board continues to assess the options available in this regard and will be exploring a number of possible solutions including creating its own private trading facility and joining an established platform for trading shares in private companies, although no definitive time frame has been set for this. Concurrently, the Board will assess the merits of re-listing the Company’s shares on a publicly traded market, although this option is not under active consideration at present. In the longer term we wish to help all shareholders receive value for their shares and as our plans evolve we will keep shareholders informed. Thank you for your patience and your continued support."
I hold around 40k worth of share in this company, just before they were suspended / de listed. What happens now to the money / shares? Any advice would be grateful
yes, i doubt that RT will change his ways voluntarily.
Sounds a bit like some of his Quindell deals hey spikey,ground hog day.
http://www.thetimes.co.uk/article/ex-quindell-boss-loses-1m-on-broker-stake-rcdlppzf6 quob writes down daniel stewart share holding to zero value in their accounts.
quob wants (needs?) to raise money and also dan needs to raise money. so quob, which needs extra cash, offers to lend cash that it's already a bit short of, to dan, in order that dan can use that money to buy extra shares in quob so that quob then gets that as extra funding... tad incestuous... RT continues his own brand of comedy genius.
sorry meant, by buying quob shares at £10.
"in addition to the funding options outlined above, QPE has discussed with DS&C a £2m bond that can be converted into DS&C equity at any time over the next 5 years. This conversion is proposed to be at a price of 1p per share, or lower if further equity is raised by DS&C at any time during this 5 year period. FCA approval would of course be required prior to any conversion, but not prior to issue of the bond. The bond may be combined with either of the other two funding options or can stand as an independent deal. The bond would be for the sole purpose of enabling DS&C to take up their previously agreed option to purchase QPE shares at a price of £10 per share, to a total value of £2m. Considering that the most recent circa £4m of equity released by QPE is priced at £15 per share, to not take up this option to purchase at £10 per share would obviously be a wasted opportunity for DS&C to generate potential profit. The opportunity to take up QPE’s bond option shall shortly lapse if not taken up by DS&C." .... weird .... so although dan is clearly strapped for cash and is meant to be cost-cutting and focusing on turning its core business around, in the meantime quob is also trying to encourage dan to borrow an extra two million pounds, not in order to develop dan businesses, but simply to give quob an extra two million financing by buying quob shares at £2. would have thought shareholders here might be better off having the company wound up, so they have have their money back, if there's any left over, then make their own choice whether or not they want to invest their cash into RTs quob park estate. the other proposed financings via equity from quob seem to rely not only on FCA approval, which probably should not be relied on, but also on those currently holding debt in dan agreeing to give up their debt in exchange for equity in dan at 1p price. i'm unclear why a debt holder would want to do that, given that at present they are ahead of the shareholders in the queue to get any monies back.
from both sharepuppets & quob about DAN plans.