UK 12:00 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
Hat-tip to eagle-eyed ‘Keith’ in the comments section of my last piece on Daniel Stewart Securities plc (DAN) HERE, my question over how a £1 million share issue to the parent by subsidiary Daniel Stewart And Company plc was accounted for in the parent FY14 accounts has been answered. It is a bit complicated, but worth looking at because it appears to raise a few more questions.
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Comments
its me
Reg Cap is not ring fenced, the criteria is slightly different depending on which category of firm. I would think DS are a Full Scope Bipru firm which would mean a cap ad requirement of a minimum of €730K or 3 months working cap, whichever is the greater. This could be a mixture of cash and investments and additional paid up share capital. If I were looking to question their reg cap I would want to know that the investments in subsidiaries were at a true and fair valuation.
Wilber
The valuation here is bonkers. £20m cap for a loss making business with a fraudster attached. £4m turnover and when you strip out goodwill about £500k of assets.
When the tide goes out this will be exposed at the ridiculous valuation it is at.
Tom Winnifrith
Wilber
as I have noted before when you compare to WH Ireland & Panmure (profitable, lots of cash, dividend paying) the DAN sp is just absurd. The Terry ramp cannot defy gravity forever
T