Daniel Stewart Securities’ Champagne Odyssey Christmas party invites sent on same day as suspension of shares statement

It was a busy day for Daniel Stewart Securities yesterday. A hectic morning at the City-based investment bank involved sending out invitations to its lavish Christmas party – dubbed A Champagne Odyssey to be held at Brown’s on Old Jewry. Three hours later the bank, founded in 1989, was rushing out a statement regarding its recent suspension of shares. 

 

The suspension came last week after it failed to publish its annual report. The reason  emerged yesterday, a shortfall in its regulatory capital and it won’t be publishing its accounts until its balance sheet has been strengthened. Meanwhile, shares remain suspended.

 

Maybe some of the funds earmarked for the “champagne odyssey” might help. Or perhaps Santa will source some capital assistance just in time for Christmas…