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Nominated Adviser licence

28 Nov 2014 16:00

RNS Number : 3707Y
Daniel Stewart Securities PLC
28 November 2014
 



Daniel Stewart Securities plc ("Daniel Stewart" or "the Company")

 

28 November 2014

 

Nominated Adviser ("Nomad") licence

 

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.

 

DS&C is currently making arrangements for the transfer of its AIM Nomad clients to alternative nominated advisers.

 

DS&C will continue to offer its corporate clients both broking and corporate finance services. The Group's private client business remains unaffected.

 

The Board believes that cost savings associated with termination of the Nomad licence will offset the resultant reduction in revenue to this business segment.

 

 

Enquiries:

DANIEL STEWART SECURITIES PLC Tel: 020 7776 6550

Peter Shea

 

WESTHOUSE SECURITIES Tel: 020 7601 6100

Richard Johnson / Martin Davison

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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