Represented Joint Brokers on Anglesey Mining Plc Equity Fundraising and Debt Restructuring
Represented joint brokers Canaccord Genuity Limited and WH Ireland Limited as part of Anglesey Mining Plc’s equity fundraising and debt restructuring. Anglesey is an AIM listed company engaged in exploring and developing its Parys Mountain property in Anglesey, Wales, which hosts a significant polymetallic zinc, copper, lead, silver and gold deposit. The equity fundraising comprised a placing and separate subscription for new ordinary shares, with the net proceeds to be applied towards advancing the Parys Mountain project through further technical activities, as well as other general working capital expenses of the company. As part of the transaction, Anglesey also undertook a debt restructuring, through a restructuring and partial conversion into further new ordinary shares of its existing working capital debt facility with its largest shareholder, Juno Limited. Nick Heap led the team on this transaction assisted by Cameron Sutton and Sebastian Clark.
Advised Metals Exploration Plc on a Reduction of Capital and Capital Reorganisation
Advised Metals Exploration Plc on a reduction of capital as a part of a capital reorganisation of the company. Metals is an AIM listed company that is engaged in mineral resource exploration and development in the Philippines. The reduction of capital has restructured the company’s balance sheet to eliminate accumulated losses on the company’s profit and loss account, providing the company with flexibility to pay dividends and/or make distributions to shareholders in the future. The capital reduction was approved by the High Court of England and Wales on 19 July 2022 and subsequently registered at Companies House thereafter. As a part of the capital reorganisation, the entire share capital of the company was subdivided into New Ordinary shares and Deferred shares, with the Deferred shares and the entire existing Share Premium Account of the company being subsequently cancelled. The capital reduction has created a pool of distributable reserves which can now be used in the future to absorb losses and/or effect distributions or other returns of value to shareholders.
Nick Heap, Partner in the U.K. Capital Markets team, led the transaction assisted by William Bainbridge (Associate Solicitor) and Cameron Sutton (Solicitor – qualified in Western Australia).
Acted for Investment Banks on Equity and Vendor Placing
Acted for two investment banks in relation to an equity and vendor placing, together with an associated acquisition.
Acted for Restaurant Franchising Business on Reverse Takeover and Readmission to AIM Market
Advised a pizza restaurant and delivery franchise in Poland on its acquisition of a competing business in Poland, its readmission to AIM and an associated equity fundraising.
Advised Royalty Generator Business on its listing on Main Market
Advised a royalty generator business on its admission to the Main Market of the London Stock Exchange, a three way merger and associated £2m equity fundraising.
Represented Sponsor and Financial Adviser on Class 1 Disposal
Acted for sponsor and financial adviser on the proposed Class 1 Disposal of a Main Market-listed online value retail and education business. The proposed transaction comprised the disposal of a leading supplier of resources/equipment to schools in the U.K. and overseas for a gross consideration of £50 million.
Acted for Adviser and Broker on €10 Million Equity Fundraising
Acted for the financial adviser and broker to a clinical stage biopharmaceutical company on a €10 million equity fundraising.
Represented Adviser and Broker on Readmission of Oil and Gas Company to AIM Market
Acted for the financial adviser and broker on the readmission of a U.K.-based oil and gas company to the AIM market of the London Stock Exchange, as well as a series of preadmission fundraisings, raising gross proceeds of £12.5 million.
Advised CX Service Provider on £44.3 Million Cash Takeover Offer
Advised a customer experience service provider on a recommended £44.3 million cash takeover offer.