Brainspark Exercises Option To Buy 75M Daniel Stewart Shares

29th Jun 2010 09:19

LONDON (Dow Jones)--Brainspark PLC (BSP.LN), an international investment company, said Tuesday it has exercised an option to purchase 75,000,000 new ordinary shares in Daniel Stewart Securities PLC (DAN.LN) at a price of 2 pence per share. MAIN FACTS: -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 July 1. -For the year ended March 31, 2009, Daniel Stewart generated revenue of GBP4.38 million and a loss before tax of GBP2.25 million. -Net assets of Daniel Stewart as at Sep. 30, 2009 were GBP4.10 million. -Brainspark shares at 0816 GMT unchanged at 114.5 pence. -Daniel Stewart shares at 0816 GMT unchanged at 1.9 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires June 29, 2010 04:19 ET (08:19 GMT)