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Daniel Stewart – the silence is deafening: where’s the placing?

By Nigel Somerville, the Deputy Sheriff of AIM | Sunday 18 October 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Oh dear, oh dear. On 1 October shares in AIM-listed Daniel Stewart (DAN) were suspended for failure to publish accounts on time for the second year running. In between times it was suspended again after its previous Nomad resigned. Three suspensions in thirteen months does seem to be a tad careless, does it not? But the 1 October RNS told us that The Company is working on the conclusion of a funding package that it expects to announce shortly, following which it expects to be able to publish its FY 2015 Accounts and resume trading on AIM. It is now 18 October. Well, where is it? Are there a few issues going on behind the scenes that we have not been told about?


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