28 Nov 2014 16:00
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Daniel Stewart Securities plc ("Daniel Stewart" or "the Company")
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28 November 2014
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Nominated Adviser ("Nomad") licence
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Daniel Stewart announces it has today notified the London Stock Exchange that Daniel Stewart & Co PLC ("DS&C"), the Company's regulated operating subsidiary, will relinquish its Nomad licence with effect from the close of business on 12 December 2014.
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DS&C is currently making arrangements for theΒ transfer ofΒ its AIMΒ Nomad clients to alternative nominated advisers.
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DS&C will continue to offer itsΒ corporate clientsΒ both broking and corporate financeΒ services.Β The Group'sΒ private client business remains unaffected.
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The Board believes that cost savings associated with termination of the Nomad licence will offset the resultant reduction in revenue to this business segment.
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Enquiries:
DANIEL STEWART SECURITIES PLC Tel: 020 7776 6550
Peter Shea
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WESTHOUSE SECURITIES Tel: 020 7601 6100
Richard Johnson / Martin Davison
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