Daniel Stewart Securities Plc Regulatory News (DAN)

17 May 2007 10:53

Daniel Stewart Securities PLC17 May 2007 FOR IMMEDIATE RELEASE 17 MAY 2007 Daniel Stewart Securities Plc (AIM) ("Daniel Stewart" or "the Company") NEW EMPLOYEE BENEFIT TRUST The Board of Daniel Stewart has established a fairer reward scheme that moreclosely reflects employee contribution to enhancement of shareholder value, aswell as provides currency to allow us to attract high quality staff in a highlycompetitive market environment. In line with the growing industry practice and in keeping with a number of ourpeers, Daniel Stewart & Co has put in place a Long Term Incentive Plan (LTIP) inthe form of a new Employee Benefit Trust ("EBT"), which will be available to allmembers of staff. The Board believes the EBT better aligns the needs ofshareholders and employees. The new scheme will allow benefit to be allocated inan equitable manner, not rewarding unless a commensurate benefit accrues toshareholders. Shares will only be issued upon allocation and will vest after three yearssubject to a minimum share price of 18p being achieved at the vesting date. By way of a first allocation 15,450,000 shares, representing approximately 7.2per cent. of the outstanding shares in issue, have been awarded to employees ofthe firm. This allocation, approved by the remuneration committee, whichconsists of non-executive directors, was distributed on May 11th 2007. The previous Employee Benefit Scheme has ceased and its assets consisting of15,269,236 fully paid shares representing approximately 7.1 per cent. of theoutstanding shares in issue have been transferred to the new scheme.Additionally the EBT has acquired a further 134,931 fully paid shares and theCompany has transferred a further 45,833 fully paid shares held on its balancesheet as treasury stock to the EBT. As a result of these changes the firstallocation will be completely non-dilutive. Daniel Stewart's share capital still consists of 215,383,066 ordinary shares, which now includes 916,667 ordinary shares held in Treasury. Therefore the total number of shares held by persons other than the Company is 214,466,399. A copy of the LTIP rules is available to shareholders upon request. Under theCompany's articles shareholder approval for the scheme is not required. Directors participating in the 1st allocation are as follows; Tom Jenkins 1,750,000Peter Dicks 50,000Stuart Lucas 50,000 Tom Jenkins is now interested in 2,188,043 ordinary shares in the Companyrepresenting approximately 1.02 per cent. of the total number of shares held bypersons other than the Company. Peter Dicks is now interested in 90,000 ordinary shares in the Companyrepresenting approximately 0.04% of the total number of shares held by personsother than the Company. Stuart Lucas is now interested in 750,000 ordinary shares in the Companyrepresenting approximately 0.35% of the total number of shares held by personsother than the Company. --ENDS-- Enquiries: DANIEL STEWART SECURITIES PLC Tel: 020 7776 6550Peter Shea BISHOPSGATE COMMUNICATIONS LIMITED Tel: 020 7562 3350Maxine BarnesSophie Davis BLUE OAR SECURITIES PLC* Tel: 020 7448 4400David SealWilliam Vandyk Notes to Editors: About Daniel Stewart Daniel Stewart Securities is an AIM-listed company providing a range ofinvestment banking services to Small Cap publicly traded and non-publicly tradedcompanies. The Group has two subsidiaries, Daniel Stewart and Company, theGroup's principal operating subsidiary, which is authorised and regulated by theFinancial Services Authority and is a member of the London Stock Exchange, andDaniel Stewart Capital, the Group's leasing and debt financing division. * Blue Oar Securities was formerly Corporate Synergy Plc and acts as Nominated Adviser & Broker for the Company This information is provided by RNS The company news service from the London Stock Exchange