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Daniel Stewart Securities

  • BY: Andrew Hore |
  • POSTED: 21/08/2014 |

Daniel Stewart Securities shareholder Jade Global Investments Ltd has joined the GXG First Quote Market. 

Guernsey-registered Jade Global Investments Ltd (www.jild.org) is “a special purpose vehicle established primarily to invest in the equity capital of Jade Global Investments Ltd”, although that company is registered in British Virgin Islands. Daniel Stewart was the introducing partner for Jade.

Jade Global Investments Ltd owns 5.65% of Daniel Stewart Securities. The initial stake was acquired for 1.25p a share and a further 10m shares bought for 2.5p each. Daniel Stewart shares are currently trading at 0.25p each. The relationship involves Jade introducing potential Asia-based clients to Daniel Stewart.

Chief executive Hugo Wray “graduated from a well-known UK University” according to the Jade admission document. There are pro forma income figures for the group but no balance sheet. BVI-registered Jade “has invested in five projects” according to the document. That presumably includes the Daniel Stewart stake but it may not. No money has been raised but the company says that it has enough working capital. A small profit is projected for 2015.

Jade Global Investments Ltd owned 20% (100m shares), and one of its directors Lu Jia owned 10%, (50m shares) of Aim-quoted Top Creation Investments Ltd when it was floated by Daniel Stewart in March 2011. Jade Global Investments Ltd was said to own 95.6m shares (17.4%) in July 2011 but in the annual report for the year to March 2012 there was no sign of a shareholding of this exact size and no mention of Jade or Lu Jia. 

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2014_59.pdf

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