News blog

Daniel Stewart Securities

• BY: Andrew Hore |
• POSTED: 07/10/2014 |

Aim adviser Daniel Stewart Securities says that it has a shortfall in its regulatory capital. 

This is the reason why Daniel Stewart cannot publish its accounts for the year to March 2014.

The shortfall in capital relates to the European Capital Requirements Regulations and Directive CRR/CRD IV, which requires a firm to hav e enough cash to cover the risks inherent in its business. Daniel Stewart is in discussions with potential providers of cash to strengthen the balance sheet.

The broker says that it has had “a number of offers of assistance presented to it and is reviewing all available options”. That could mean a significant investor or an acquirer.

Trading in the shares was suspended at 0.35p on 1 October because the accounts had not been published within six months of the year end. 

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2014_60.pdf