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.
On 25 June POS AIM Casino stockbroker Daniel Stewart (DAN) raised £1.2 million issuing shares at 3.35p. The shares are now 1.35p to sell. That is a 60% loss. Ouch. But the shares should fall another 80% from here.
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Comments
DUCK AND DIVE
The requirement appears to be for “liquid financial assets” equivalent to half the total amount of operating costs shown in the latest audited annual accounts to be held continuously available in case of need to fund an orderly wind-down.
https://fshandbook.info/FS/print/FCA/REC/2/3
REC 2.3.13
(1) Under the standard approach, the amount of eligible financial resources is equal to six months of operating costs.
(2) Under the standard approach, the FCA assumes liquid financial assets are needed to cover the costs that would be incurred during an orderly wind-down of the UK recognised body’s exempt activities, while continuing to satisfy all the recognition requirements and complying with any other obligations under the Act (including the obligations to pay periodic fees to the FCA).
(3) For the purposes of the standard approach, the FCA would normally expect the calculation of operating costs to be based on the UK recognised body’s most recent audited annual accounts, with six months of operating costs being equal to one half of the sum of all operating costs reflected in the audited annual accounts of the UK recognised body in the course of performing its functions during the year to which the accounts relate. In calculating the gross annual operating costs, the FCA would consider it reasonable to exclude non-cash costs (costs that do not involve an outflow of funds).