Rob Terry-backed broker Daniel Stewart's shares suspended for a second time

 
Jessica Morris
Follow Jessica
Shares in Daniel Stewart have been suspended (Source: Getty)

Shares in Daniel Stewart, the broker backed by Rob Terry, have been suspended for a second time after its in-house broker Westhouse Securities quit last month.

The Aim-listed broker, which acts as a nominated adviser to other companies which want to join the Aim market, only had its shares restored earlier this month ending a five-month suspension due to a delayed annual report.

Daniel Stewart said it was in final discussions with a new nominated adviser and expects to be able to conclude the appointment over the course of next week.

Shares in the company had been surging following the news Quindell founder Rob Terry was upping his stake. Terry, who is also Qundell's former executive chairman currently holds a 9.06 per cent stake in Daniel Stewart and has said he intends to increase this beyond 10 per cent.

Terry left Quindell in November after his involvement in a controversial share transfer agreement with Equities First Holdings.

Related articles