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Rumoured Rob Terry stake hike sends Daniel Stewart higher

Rob Terry’s investment vehicle, Quob Park Estate, has a 9.99% stake in the AIM-listed stockbroker.
Rumoured Rob Terry stake hike sends Daniel Stewart higher
Shares in Daniel Stewart rose 0.3p to 1.75p today.

Shares in Daniel Stewart Securities (LON:DAN) surged more than 20% today amid hopes that the former Quindell boss could look to up his stake in the broker.

Rob Terry’s investment vehicle, Quob Park Estate, has a 9.99% stake in the AIM-listed stockbroker.

It has not been able to extend this due to restrictions put in place by the Financial Conduct Authority (FCA) while it conducted a probe into Quindell.

But the FCA dropped its investigation this morning to make way for the Serious Fraud Office (SFO), sParking speculation that Terry might soon raise his stake in Daniel Stewart.

However, this seems unlikely in the near term at least. For Quob Park said on August  5 that it "would not plan to gain FCA approval" for further shares purchases until ALL investigations in Quindell are finished, including the SFO probe.

Terry’s Quob Park also has 12% stake in Imaginatik (LON:IMTK).

Shares in Daniel Stewart rose 0.3p to 1.75p today.

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