Daniel Stewart Securities CEO buys 3.46m shares

16th Jan 2013 16:15

Peter Shea, the Chief Executive Officer of Daniel Stewart Securities, an investment bank which provides corporate advisory and institutional stock broking services, has bought 3.46m shares this week, prompting a 40 per cent rise in its share price. Shea bought the shares at 0.55p each, costing him a total of £19,012. The purchase comes just a few weeks after the group posted a decline in half year revenues from £3.6m to £3.1m, and a widening of pre-tax losses to £1.0m compared to £0.51m the same period in 2011. In the update, released on December 24th, the company said that its trading environment in the UK remains challenging, and this was compounded over the summer months by the extra jubilee bank holidays and particularly the Olympics.The firm's share price has risen 25% in the past week, but is still down 35% over the year.Shea is now interested in 55.9m shares, equal to around 10.76% of the issued share capital.Top Director BuysSymphony Environmental Technologies (SYM) Director name: Mr Michael LaurierAmount purchased: 6,691,717 @ 3.00p Value: £200,752Daniel Stewart Securities (DAN) Director name: Mr Peter D SheaAmount purchased: 3,456,680 @ 0.55p Value: £19,012NR