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Alexander David Securities Group

  • BY: Andrew Hore |
  • POSTED: 27/05/2009 |

Alexander David Securities Group says that its core broking business has doubled its turnover in the four months to April 2009.

Shares in Alexander David jumped 0.28p to 1.2p each, which values the Aim broker at £5.19m. The company is raising £668,000 at 1p a share – higher than the previous day’s closing price. Alexander David will have to hold a general meeting to gain permission to issue the majority of these shares - £210,000 will be raised immediately from a placing with Triffyn Trading.

Some directors are taking up shares in the placing and others are buying shares from the estate of Stephen Dean. Dean’s estate still holds 2.85% of the company.

Aim-quoted Jarvis Investment Management will end up with 2.81% of Alexander David.

Alexander David has added four corporate clients this year and become a Corporate Adviser for Plus Markets. There are plans to apply to become a nominated adviser.

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