Daniel Stewart Securities PLC Subscription to raise £1.2million (2020R)
25 Junho 2015 - 5:46AM
UK Regulatory
TIDMDAN
RNS Number : 2020R
Daniel Stewart Securities PLC
25 June 2015
FOR IMMEDIATE RELEASE 25 June 2015
Daniel Stewart Securities plc ("Daniel Stewart" or "the
Company")
Subscription to raise GBP1.2million
Daniel Stewart, the investment bank offering corporate advisory,
institutional stockbroking and wealth management services, is
pleased to announce that it has raised GBP1.2million through a cash
subscription from institutional and other investors. The
subscription, conditional on Admission, is for 35,820,889 ordinary
shares at a price of 3.35p per ordinary share of 0.25p each
("Ordinary Share(s)"). There was sufficient demand to increase the
offering from the originally announced GBP1million fundraise. The
proceeds of the subscription will be used for general working
capital purposes.
Application has been made for the admission to trading on AIM of
35,820,889 new Shares ("Admission"), with trading expected to
become effective on 1 July 2015 and the new Ordinary Shares will
rank pari passu with existing Ordinary Shares.
Following Admission, the Company's issued share capital will
comprise 932,272,580 ordinary shares, which figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules. The
Company does not hold any shares in treasury.
Related Party Transaction
Under the AIM Rules for Companies ("AIM Rules"), Epsilon
Investments pte, a substantial shareholder in the Company, is a
related party and therefore their subscription for 8,656,716
Ordinary Shares is a related party transaction pursuant to Rule 13
of the AIM Rules (the "Epsilon Subscription"). Accordingly, the
directors of Daniel Stewart consider, having consulted with the
Company's Nominated Adviser, Beaumont Cornish Limited, that the
terms of the Epsilon Subscription are fair and reasonable insofar
as the shareholders of the Company are concerned. Following
completion of the subscription Epsilon Investments pte will be
interested in 273,156,716 Ordinary Shares representing 29.3% of the
Company's enlarged issued share capital.
No other participant in the Subscription has a notifiable
interest in the Company.
Enquiries:
DANIEL STEWART SECURITIES PLC
Peter Shea, Chairman
Tel: 020 7776 6550
BEAUMONT CORNISH LIMITED
Roland Cornish/ James Biddle
Tel: 020 7628 3396
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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