Daniel Stewart - Issue of Equity
16-02-2010

Daniel Stewart (AIM: DAN.L), stockbroker and corporate finance adviser to smaller and medium-sized companies, is today pleased to announce that it has conditionally placed 25,000,000 new ordinary shares of 0.25 pence each ("Ordinary Shares") with a new institutional investor at a price of 2 pence per Ordinary Share, raising £500,000 for the Company ("the Placing"), before expenses. The proceeds of the Placing will be utilised for general working capital.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission") and dealings are expected to commence on 19 February 2010.  The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Following completion of the Placing, the institutional investor will be interested in approximately 7.4per cent. of the enlarged share capital of the Company. It is expected that the new institutional investor will make an announcement in relation to its holding in Daniel Stewart in due course. Following admission, Daniel Stewart's issued share capital will comprise 337,811,066 Ordinary Shares of 0.25 pence each.

Peter Shea, Chief Executive Officer, said:

“We are pleased at the renewed interest in Daniel Stewart. We believe that this is further confirmation of the market acceptance of our approach and is another step forward in the development of our business.”  

Adam Wilson added:

“I am pleased that we have early recognition of the improved offering by Daniel Stewart and we are sure that the confidence investors have shown will be rewarded.”

Ends

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