29 Jun 2010 07:00
29 JUNE 2010
Daniel Stewart Securities Plc
("Daniel Stewart", "the Company" or "the Group")
RESULT OF GENERAL MEETING
Daniel Stewart (AIM: DAN.L), stockbroker and corporate finance adviser to smaller and medium-sized companies, announces that following a General Meeting of the Company held yesterday at 2.00 p.m. at the Company's offices, the resolutions set out in the Circular sent to Shareholders on 4 June 2010 (the "Resolutions"), have been duly passed.
Following the passing of the Resolutions, the Board has approved the issue of 75,000,000 ordinary shares of 0.25p each ("New Ordinary Shares") at a price of 2 pence per ordinary share (the "Allotment"), to Brainspark Plc ("Brainspark"), pursuant to the exercise of an option which was granted on 3 March 2010. The Allotment will raise £1.5 million in new capital to strengthen further the Company's balance sheet.
The New Ordinary Shares will be issued and Application will be made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") following confirmation of receipt of funds from Brainspark's Nominated Adviser, which is expected by no later than 1 July 2010. The New Ordinary Shares will rank pari passu with the existing ordinary shares.
Following Admission of the New Ordinary Shares detailed above, Daniel Stewart's issued share capital shall comprise 510,326,566 ordinary shares of 0.25p each.
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.