Daniel Stewart Securities Share Discussion Threads

[nod] 09/3/2015 03:44

Only dodgy companies that would find it difficult to appoint a reputable nomad or broker.

[grlz] 08/3/2015 21:29

Dan will struggle on for a few more months enriching the BOD and their friends employed as 'consultants' until the last of the customers desert this reputationally damaged and flawed firm.

Reputations are hard won and easily lost - who would trust this gang of clowns to do work for them?

[nod] 08/3/2015 20:07

Auditors take things at face value. They only require evidence of the transactions - invoices and payments. They can't check whether work was done or that it was overpriced or unproductive. Auditors will not investigate fraud by their clients - they will ignore it or walk away if they are overly concerned.

[lr4850] 08/3/2015 10:58

What puzzles me Nod is that the auditors have seen these "transactions" to the benefit of Wilson and seem to be doing nothing about it? Company funds are being given to someone who appears to do nothing or bring anything to DAN - Scandalous.

[nod] 08/3/2015 10:28

I can't imagine fund investors would have been happy with a 33% fall over 12 months. Where does DAN publish its funds and fund performance? This side of the business seems to be very covert. Not your usual fund manager.

[soul limbo] 07/3/2015 19:23

“Assets under administration were GBP197 million at 31 March 2014, down from GBP300 million in 2013, due significantly to the decline in the value of one holding in the portfolio.”

Any idea which holding that was ?

[nod] 07/3/2015 19:16

DAN key performance indicators 2014 (page 4)At 31 March 2014 we acted for 27 public market corporate clients as compared to 41 clients a year earlier. Much of this decline has been due to client companies ceasing to trade or de-listing.Assets under administration were £197 million at 31 March 2014, down from £300 million in 2013, due significantly to the decline in the value of one holding in the portfolio.Business in the Far East has not grown sufficiently for the group to continue seeking licence approval. We continue to retain clients in that geographical region however, and have maintained institutional links through membership of Global Alliance Partners. Daniel Stewart Securities plc now has board representation of this organisation.Page 38, Shea is still dishing out payments, advances and health insurance to his consultant and private business partner, Adam Wilson, who received over two million pounds in payments while DANs business was declining rapidly.Adam Wilson a major shareholder of Daniel Stewart Securities plc has been paid £281,667 by Daniel Stewart & Co plc in respect of his consultancy agreement with Daniel Stewart Securities plc.At 31 March 2014 £22,500 had been paid in advance to Adam Wilson in respect of this agreement.During the year Daniel Stewart & Co plc paid £4,494 in respect of life and health insurance for Adam Wilson who is a significant shareholder in Daniel Stewart Securities plc, the parent company. Peter Shea and Adam Wilson are shareholders in The Confederacy Limited. Peter Shea is a director of this company. There were no transactions or balances with the Group.

[lr4850] 26/2/2015 08:39

Failed again in their regulatory duties? as stated in the recent RNS:

Update on Suspension

The Company expects to be in a position to publish its Report & Accounts for the year ended 31 March 2014 in early February. Until such time the Company's Shares will remain suspended.


Early February has been and gone and so will February at the close of trading tomorrow!

[kooba] 29/1/2015 08:02

Well they have some money raised from someone I can find nothing about on the web at all...what's new ?Subscription price respectable in the circumstances but why they still haven't managed to coordinated results with this I don't know...quiet possibly the accountants want to look into certainty of Fundraise before signing off as a going concern??Didn't even know Shea had a loan out to the company!Oh well it lives for the time being but it's difficult to see that bright a future as reputationally this is a flawed firm IMHO .The results should give us a clue as to ongoing trading...but it's tough out there at the bottom of the pond.

[lr4850] 27/1/2015 19:33

TICK TOCK... TICK TOCK.

Will DAN file in January as they said they would? Every reason to doubt every word that comes out of SHEA's mouth

"School for scandal; just look at who has enrolled?"

[lr4850] 25/1/2015 19:39

Suspect that DAN's delay in filing was an orchestrated move so that a deal with CRV could be worked on under the radar as is usual for DAN's modus operandii. Moreover, done to benefit Shea. All in my humble opinion - that is.

[lr4850] 22/1/2015 19:37

Nod

As said before. That this is allowed to happen is scandalous and warrants investigation by the authorities. Did I also see somewhere that Shea has arranged himself another interest free loan through DAN? Yet, no-one even raises an eyebrow - not even these high profile auditors.

[nod] 22/1/2015 18:24

Worse than that ... DAN wrote off the personal loans to Adam Wilson. It appears in DAN's annual reports.Annual Report 2013, page 37Adam Richard Wilson a major shareholder of Daniel Stewart Securities plc has been paid £570,000 (2012:£521,828) by Daniel Stewart & Co plc in respect of his consultancy agreement with Daniel Stewart Securities plc. At 31 March 2013 £21,666 (2012 : £24,000) had been paid in advance to Adam Richard Wilson in respect of this agreement.During the year Daniel Stewart & Co plc paid £4,517 (2012 : £2,889) in respect of health insurance for Adam Wilson who is a significant shareholder in Daniel Stewart Securities plc, the parent company.Also in 2013 report: "a write off of cash advanced to Mena by Daniel Stewart of £115,193." Wilson was sole owner of MENA.With consultancy fees, advance fees, health insurance, and debt write off, Wilson apparently benefited by around 711,000 pounds in the year to March 2013.Important to point out that Wilson was NOT a director of DAN during this year or the previous year. It's not made clear whether Wilson was employed as an independent consultant or through a company, or as an independent employee on a contract.

[lr4850] 22/1/2015 13:07

sure would meijiman; more so, if my mate threw more money my way or even arranged an interest free loan?/

[meijiman] 22/1/2015 12:58

Indeed -wouldn't you if the beer and food were free.

[nod] 22/1/2015 04:28

22 March 2012Naibu starts bookbuilding, as Chinese take AIMOne of Adam Wilson's perhaps?According to Peter Shea, chairman and CEO of Daniel Stewart & Co, the bookrunner on the deal in London, up to 70 institutions were visited in marketing the deal and only one or two are said to have declined. The deal could raise up to £50 million ($79 million) and kick-start a fresh round of Chinese listings on London's second market.In a related moved, Daniel Stewart & Co has applied to the SFC in Hong Kong for a licence to open a new office in the city. It is transferring Adam Wilson from the existing Dubai office and will move two further staff from the Kuala Lumpur office. It has also signed agreements with Cash Securities and TA Securities to

[nod] 21/1/2015 14:11

I see that dodgy Naibu NBU has also suspended after a short life on AIM.

[lr4850] 13/12/2014 17:05

Hope so and if he can get rid of O'Shea and his cronies, so much the better.

[pembury] 13/12/2014 14:19

CRV have a billionaire backer so may have saved your day?

[loverat] 12/12/2014 20:53

By the way, I think the so called investment has hit trouble. A few weeks back it was investors sorted awaiting FCA approval.

I don't think DAN will come back and be listed.

[lr4850] 12/12/2014 20:30

I believe that it is significant that CRV dropped DAN as their NOMAD on the same day as DANS' RNS. CRV also made a similarly worded RNS.

A merger would seem to suit both.