Alexander David Securities Group was formed when Aim broker Alexander David Holdings reversed into Griffin Group on 25 November. The initial value of the acquisition was £3.88m, all of which was payable in shares. Alexander David was formed in 2006 and specialises in advising small quoted companies and private clients. The original operations of Griffin, which involved floating shell companies on Aim and Plus-quoted, were sold for £1.2m to Global Investments, a company where Stephen Dean, who was then a director of Griffin Group, has an interest. Griffin Group moved from Ofex to Aim on 12 December 2003 and raised £140,000 at 5p a share.
Sector: Aim advisers