The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCLP.L Regulatory News (CLP)

  • There is currently no data for CLP

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Investment in Daniel Stewart

3 Mar 2010 07:00

RNS Number : 9846H
Brainspark PLC
03 March 2010
 



3 March 2010

 

Brainspark plc

("Brainspark or the "Company")

 

Investment in Daniel Stewart Securities plc

 

The Board of Brainspark (AIM: BSP) is pleased to announce that it has entered into an agreement with AIM listed stockbroker, Daniel Stewart Securities plc ("Daniel Stewart" or the "Group") to subscribe for 25,000,000 new ordinary shares of 0.25 pence each in Daniel Stewart at a price of 2 pence per Daniel Stewart share, for a total consideration of £500,000 (the "Agreement"). On completion of the Agreement, Brainspark will have an interest in approximately 6.66 per cent. of the enlarged issued share capital of Daniel Stewart.

 

The Company has also acquired, for the consideration of £1, an option to purchase a further 75,000,000 new ordinary shares in Daniel Stewart (the "Option"). The Option is exercisable at a price of 2 pence per Daniel Stewart share at any time until midday on 29 June 2010 and should the Option be exercised Brainspark will hold 100,000,000 ordinary shares in Daniel Stewart. The exercise of the Option is at the discretion of Brainspark. Should the Option be exercised Alfredo Villa, CEO of Brainspark and with over 20 years experience in the Swiss banking industry, will be invited to join the Board of Daniel Stewart as a Non-Executive Director. The exercise of the Option and the appointment of Alfredo Villa to the Board of Daniel Stewart are both subject to, inter alia, approval from the Financial Services Authority.

 

Daniel Stewart is an AIM-listed financial services 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 plc, 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 and Company plc 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.

 

For the year ended 31 March 2009, Daniel Stewart generated revenue of £4.38 million and a loss before tax of £2.25 million. Net assets of Daniel Stewart as at 30 September 2009 were £4.10 million.

 

Prof. Francesco Gardin, Chairman of Brainspark, commented: "Our decision to enter into the financial services sector has been a long-term goal of the Company. By the end of the calendar year, we hope to have created a comprehensively structured group of companies, each with strong synergies to our core investment, Mediapolis Investments SA. Our investment in Daniel Stewart will provide us with the professional capabilities, expertise and placing power to facilitate our future investments, should we require it. We are also hoping to utilise their experience to become involved with AIM Italia, where together we can establish a successful smaller company market in Italy.

 

"We have great respect for the management team at Daniel Stewart and look forward to a successful working relationship with them as we continue to pursue our strategy of European investments in line with our strategy.

 

Peter Shea, CEO of Daniel Stewart, said, "We are delighted to welcome Brainspark on board as a shareholder and we look forward to continuing to grow the business, creating value for shareholders."

 

 

-ends-

 

 

For further information please contact:

 

Brainspark plc

+39 335 296 573

Francesco Gardin, Chairman

Allenby Capital Limited

+44(0) 20 3328 5656

Nick Athanas/James Reeve

Leander PR

+44(0) 7795 168 157

Christian Taylor-Wilkinson

 

 

 

Notes to Editors:

 

About Brainspark plc

Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies encompassing the interactive media, leisure, entertainment and financial services sectors mainly in Italy but also other European countries. Its core investment is Mediapolis Investments SA, the owner of a site in northern Italy with plans for the development of a large theme park. The company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions.

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCKKNDPKBKKFNK
Date   Source Headline
6th May 20213:00 pmPRNNotification of Change in Major Shareholding
6th May 20211:40 pmPRNResult of GM and Change of Company Name
29th Apr 20217:00 amPRNHolding(s) in Company
28th Apr 20214:40 pmRNSSecond Price Monitoring Extn
28th Apr 20214:35 pmRNSPrice Monitoring Extension
14th Apr 20214:41 pmRNSSecond Price Monitoring Extn
14th Apr 20214:36 pmRNSPrice Monitoring Extension
14th Apr 20212:06 pmRNSSecond Price Monitoring Extn
14th Apr 20212:00 pmRNSPrice Monitoring Extension
14th Apr 202111:05 amRNSSecond Price Monitoring Extn
14th Apr 202111:00 amRNSPrice Monitoring Extension
14th Apr 20217:00 amPRNNotice of General Meeting
9th Apr 202110:13 amPRNNotification of Major Holding
12th Mar 20212:29 pmPRNHolding(s) in Company
11th Mar 20217:00 amPRNSipiem Court Hearing Update
23rd Feb 202112:21 pmPRNHolding(s) in Company
22nd Feb 20217:00 amPRNPlacing to Raise £1 Million
11th Feb 20217:00 amPRNPlacing to Raise £680,000
1st Feb 20217:00 amPRNBusiness Update
12th Nov 202012:15 pmPRNResult of AGM
9th Nov 20207:00 amPRNBond Conversion
29th Oct 20207:00 amPRNInterim Results
27th Oct 20207:00 amPRNSipiem Court Update
19th Oct 20201:30 pmRNSRestoration - Clear Leisure Plc
19th Oct 20201:00 pmPRNFinal Results and Restoration of Trading
15th Oct 20207:00 amPRNBusiness Update
5th Oct 202012:08 pmPRNReschedule of Loans' Maturity Date
1st Oct 20207:30 amRNSSuspension - Clear Leisure plc
1st Oct 20207:00 amPRNTemporary Suspension of Trading
17th Aug 20207:00 amPRNBusiness Update
23rd Jun 20207:00 amPRNMediapolis Settlement
4th Jun 20207:00 amPRNExtension of Eufingest Loans
26th May 20207:00 amPRNForCrowd Business Update
26th May 20207:00 amPRNForCrowd Business Update
15th May 202011:19 amPRNStatement Re: Share Price Movement
6th May 20207:00 amPRNCovid-19 Update
18th Feb 20202:54 pmPRNNew Loan Facility
13th Feb 20207:00 amPRNSipiem Ownership Ruling
10th Feb 20209:37 amPRNSipiem Court Hearing
31st Jan 20201:12 pmPRNHolding(s) in Company
28th Jan 20207:09 amPRNBusiness Update - PBV and ForCrowd
20th Dec 201911:29 amPRNReschedule of Loan Notes / Mediapolis Funds Update
16th Dec 20197:01 amPRNExtention of ForCrowd Share Trading Window
16th Dec 20197:00 amPRNNew Business Investment
12th Dec 201912:00 pmPRNLaunch of ForCrowd Crowdfunding Platform
4th Dec 20199:38 amPRNUpdate on Mediapolis Auction Proceeds
22nd Nov 20192:47 pmPRNUpdate on Proceeds from Mediapolis Land Auction
31st Oct 20197:00 amPRNPBV Monitor Update
30th Oct 20197:00 amPRNPostponement of Sipiem Court Hearing
16th Oct 20197:00 amPRNLoan Note Facility

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.