Terry ups Daniel Stewart stake
Quindell founder Rob Terry has acquired a 7.4% stake in Daniel Stewart, sending the brokers’ shares soaring.
Shares in Daniel Stewart soared 750% to close at 1.7p, following the purchase of 31.25m shares by former executive chairman of Quindell, Rob Terry. The acquisition takes his number of shares to 52m, taking his total stake in the firm to 7.4 per cent.
On Tuesday, Terry was named as the second biggest investor in Daniel Stewart, which had only recently started trading again following a suspension in October for failing to publish its annual report.
Terry left Quindell in November following a controversial share transfer agreement with Equities First Holdings.
This week Quindell announced the sale of the professional service division to Slater and Gordon as it looks to comprise a range of ‘insurance related technology businesses with strong growth potential’.