Further re investment in Dani

RNS Number : 3874O

Brainspark PLC

29 June 2010

 



29 June 2010

Brainspark plc

("Brainspark" or the "Company")

Further re investment in Daniel Stewart Securities plc

The Board of Brainspark (AIM: BSP), the fast growing international investment company, is pleased to announce that further to the announcement released by the Company on 3 March 2010 the Company has exercised an option to purchase 75,000,000 new ordinary shares in Daniel Stewart Securities plc ("Daniel Stewart") at a price of 2 pence per share (the "Option").

Following the exercise of the Option, Brainspark will be interested in 100,000,000 new ordinary shares in Daniel Stewart representing 19.6% of the enlarged share capital of Daniel Stewart.

The issue of the 75,000,000 new ordinary shares in Daniel Stewart to Brainspark is subject to receipt of funds which is expected by no later than 1 July 2010. Approval has been received from the Financial Services Authority for the exercise of the Option.

Daniel Stewart is an AIM-listed financial services company providing a range of investment banking services to small cap publicly traded and non-publicly traded companies. The Group has two subsidiaries, Daniel Stewart and Company plc, the Group's principal operating subsidiary, which is authorised and regulated by the Financial Services Authority and is a member of the London Stock Exchange, and Daniel Stewart Capital, the Group's leasing and debt financing division.

Daniel Stewart and Company plc is an AIM Nominated Adviser and PLUS Market corporate adviser, as well as being a regulated broker to both the Official List and AIM.  It currently acts for approximately 50 AIM companies and is actively seeking to increase its client base with companies who will benefit from its specialised corporate advisory and institutional stock broking services.

For the year ended 31 March 2009, Daniel Stewart generated revenue of £4.38 million and a loss before tax of £2.25 million. Net assets of Daniel Stewart as at 30 September 2009 were £4.10 million.

For further information please contact:

Brainspark plc	[phone]
Francesco Gardin, Chairman
Allenby Capital Limited	[phone]
Nick Athanas/James Reeve
Leander PR	[phone]
Christian Taylor-Wilkinson

Notes to Editors:

About Brainspark Plc

Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the interactive media, leisure, entertainment and financial services sectors mainly in Italy but also other European countries. Its core investment is Mediapolis Investments SA, the owner of a site in northern Italy with plans for the development of a large theme park. The company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions.

 

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