Daniel Stewart Securities Share Discussion Threads

[nod] 10/10/2014 07:26

Do you mean Wilson not WestAbout as useful as that ball Wilson on Castaway

[kooba] 10/10/2014 06:30

West..Big lump of stock for MENA ...vast consultancy fees...going to be ceo then delayed then not all very strange because it appears for all that he has taken out he has added nothing.And for all the hype on him joining there has been scant details of his ongoing involvement...MENA dormant? West exited stage left?Who knows but one thing this board is good at as well as running the company into the ground is totally opaque communications on a number of issues...MENA and Quindell options being two key ones!

[nod] 09/10/2014 21:04

Rockridge kept putting cash each year for shares. While Wilson was being paid huge fees without getting any decent new business. None of it made sense.Adam Wilson 42,612,000Rockridge Investments 46,000,000Jade Global Investments 19,400,000Old Jewry Employee Benefit Trust 30,340,950William Samuel Clive Richards OBE 26,393,000

[kooba] 09/10/2014 13:13

Plus point is that there must be a high degree of confidence that the company will get the necessary funding short term or their business would already be starting to be restricted by the regulator.

[kooba] 09/10/2014 13:10

Well they have raised some money for FRR perhaps one of the AIM listed stocks even more criticised for corporate governance than DAN itself...Neither joint broker or nomad but looks like.DAN raised the money presumably because those officially connected didn't have the front!Oh well should be £100k towards topping up regulatory capital..well £80k net of the party!!

[kooba] 09/10/2014 11:53

Least they're getting some PR :)

[lr4850] 08/10/2014 20:45

Perhaps O shea should pay for the champagne oddessey out of his own pocket and hold it at his pub where he can get mates rates. Same for regulatory capital - he and his bod should be made to make up the shortfall - they are all loaded on the back of siphoning off shareholders' funds.

[lr4850] 08/10/2014 20:24

You could not make this up. Someone needs to start digging and apportion blame and hold those accountable - Mr O'Shea eh?

[kooba] 08/10/2014 20:09

Sums it up reallyDaniel Stewart Securities' Champagne Odyssey Christmas party invites sent on same day as suspension of shares statement by Gabriella Griffith October 8, 2014, 1:57amInvitations to the lavish Christmas party – dubbed A Champagne Odyssey - were sent out yesterdayIt was a busy day for Daniel Stewart Securities yesterday. A hectic morning at the City-based investment bank involved sending out invitations to its lavish Christmas party – dubbed A Champagne Odyssey to be held at Brown's on Old Jewry. Three hours later the bank, founded in 1989, was rushing out a statement regarding its recent suspension of shares. The suspension came last week after it failed to publish its annual report. The reason emerged yesterday, a shortfall in its regulatory capital and it won't be publishing its accounts until its balance sheet has been strengthened. Meanwhile, shares remain suspended. Maybe some of the funds earmarked for the "champagne odyssey" might help. Or perhaps Santa will source some capital assistance just in time for Christmas... 7 October 2014Update on Suspension ...During the final stages of preparation of the accounts, the company identified a shortfall in its regulatory capital... and is in discussions with certain parties in order to strengthen the company's balance sheet for regulatory capital purposes.

[nod] 07/10/2014 22:52

DAN customers and potential customers will not be impressed.

[soul limbo] 07/10/2014 20:26

the FD should be fired

[kooba] 07/10/2014 20:04

Oh well regulatory capital shortfall...something will need to be done very quickly or they will be closed down by the FCA..won't be a protracted suspension either they get rescue funding in the next week or so or they are shutdown and wound up with nothing for shareholders.Makes you wonder who authorised that trading update?Incompetent managers and advisors and all wrapped up in an authorised (currently) advisor themselves...all a disgrace and another nail in the AiM coffin.

[kooba] 02/10/2014 15:19

Maybe they can reverse the pub in for a decent profit on what they paid? In the interests of shareholders of course!

[nod] 02/10/2014 11:51

And a pub - don't forget the pub.

[lpavlou] 02/10/2014 07:38

Sorry chaps, the game is up. They have spent all your cash on their salaries and bonus's. Expect a very dilutive rights issue for the BOD to now take complete control.

[nod] 02/10/2014 00:19

Just a few years ago when DAN had much higher revenues and a much bigger business they were able to get their accounts filed well ahead of the last day. Recently, with a fraction of the revenue they have been unable to file accounts until the six month deadline is nearly up. It seems the smaller the numbers get the harder it is to add the numbers up.On the PWC appointment - posters asked at the time why would a tiny declining company like DAN appoint the most expensive auditors. Most small companies appoint small auditors. Perhaps there was a plan to get themselves suspended and bring this sorry story to an end.

[29palms] 01/10/2014 23:12

And so it has come to pass. Check my posting of 12th June

29palms
12 Jun'14 - 13:53 - 6627 of 6733 0 0 edit


I would say watch out for share suspension pending clarification on financial position.

All IMHO

[senor_sensible] 01/10/2014 09:33

hxxp://www.investopedia.com/terms/a/auditor.asp

hxxp://www.pwc.com/

Similar to when you have an MOT on your car, just because you are paying for the MOT does not mean you can dictate the pass criteria (rules) they use when checking the car. But as always there is a chance of getting some backstreet garage to overlook one or two minor problems.

In terms of Auditors, PWC are very big and very competent so when they audit the results I have quite a lot of faith in their opinion. Nothing Crooked about them IMO

Also, IMO this does not indicate a big coverup effort from the company, most likely due to lack of response or taking too long to make amendments required. PWC I expect to be fairly rigid in their time available in closing out non-compliances. not-withstanding this, DAN should have made sure the audited accounts were ready for release in time.

IMO No one in their right mind would employ PWC as auditors if they were intent on misleading the market or fudging figures, they are reputable and competent.

[nod] 01/10/2014 08:45

What a bunch of crooks.Are auditors working for the owners of a company - the shareholders - or do they work for the CEO?

[kooba] 01/10/2014 07:56

Looks like PWC not allowing quite the creativity in accounts previously accepted and refusing to sign off?Could there need to be a qualification in the accounts...? Going concern?Either way highly embarrassing for a Nomad to be unable to conform to AIM rules and doubtful there is a quick fix.Will they need additional capital and is their regulatory capital position affected?

[the ternminator] 01/10/2014 07:03

DANIEL STEWART SECURITIES PLC
("Daniel Stewart" or "the Company")

Share Suspension

Daniel Stewart announces that it has been unable to publish its Report & Accounts for the year ended 31 March 2014 within 6 months of the year end as required under the AIM Rules for Companies. Consequently trading in the Company's shares on AIM will be suspended at 7.30am today, 1 October 2014.

A further announcement will be made in due course.

[senor_sensible] 01/10/2014 07:03

suspended, you don't get any leaway when TW has an axe to grind. lol

[senor_sensible] 30/9/2014 17:28

Rule is for Auditied accounts no later than 6 months, wonders if PWC are not willing to sign off hence the delay.

[shackleton1] 29/9/2014 22:26

Figures will come after 4.30pm when everyone is going home.