City law firm Speechly Bircham LLP has advised Ambrian Partners on its role as Nominated Adviser from admission, in relation to the reverse takeover of BPC Limited by Falkland Gold and Minerals Limited and the admission of the enlarged share capital to trading on the AIM market of the London Stock Exchange. The BPC Group is an oil and gas exploration group with offshore licences in the Commonwealth of the Bahamas. Falkland Gold and Minerals Limited (now known as BPC Limited) has wound down its Falkland Islands operations, and the enlarged group will focus on the oil and gas exploration interests of the BPC Group.
The reverse takeover was structured as a share for share offer by Falkland Gold and Minerals Limited for BPC Limited and became unconditional as to acceptances on 1 September 2008. The existing shares were re-admitted and the new consideration shares admitted to trading on AIM on 2 September 2008. The directors of BPC Limited have replaced the previous directors of Falkland Gold and Minerals Limited with effect from admission, and Ambrian Partners have taken over as Nominated Adviser to the enlarged group.
Ambrian Partners provides corporate finance and corporate broking services to growing companies across the natural resources and new technology sectors. Ambrian has over 70 retained corporate clients and BPC represents their 8th AIM listed client in the oil & gas sector. Ambrian is wholly-owned by Ambrian Capital plc, an independent investment bank group listed on the AIM market of the London Stock Exchange (AIM: AMBR).
Tim Goodman of Ambrian Partners said:“We were very pleased to have the opportunity to bring BPC to market through this reverse take over and they are an important addition to our client list in this significant sector for Ambrian. Speechlys were a key part of the advisory team on this transaction and we valued their advice and support throughout the process.”
Corporate Partner, Tom Shaw, led the Speechly Bircham team of David Hicks (Corporate Solicitor) and Paul Arathoon (Corporate Solicitor). Tim Goodman led the team at Ambrian Partners, together with Samantha Harrison and Natasha Reed. Fox Davies Capital has become the Company’s broker with effect from admission. The Company was advised by Norton Rose LLP (led by Corporate Partner Simon Cox), together with McGrigors LLP (Falklands law) Mourant du Feu & Jeune (Guernsey law) and Davies and Co. (Bahamian law). PricewaterhouseCoopers LLP were the reporting accountants and auditors to BPC Limited and KPMG Audit Plc acted as auditors to Falkland Gold and Minerals Limited.
For more information, please contact:
Tom Shaw, Corporate partner, on 020 7427 6509 or tom.shaw@speechlys.com
Sarah Gerard, press office, on 020 7427 6679, sarah.gerard@speechlys.com