Quoted companies 

Our quoted companies lawyers represent issuers, investment banks and others on a broad range of equity and debt capital markets transactions.  Offering specialist commercial advice, we operate across the spectrum of industry sectors, with particular expertise in technology, financial institutions and natural resources.  Our lawyers have the experience necessary to handle complex cross-border transactions and to help clients put in place innovative financing arrangements.   

We advise a number of larger quoted companies on corporate governance and compliance, as well as transactional advice.  In the smaller quoted companies arena, we have long experience in advising companies and their sponsors on raising funds in the equity capital markets, including AIM.  

In keeping with our support for smaller quoted companies, our lawyers sit on a number of technical committees of the Quoted Companies Alliance (QCA) and work with the QCA to lobby the Government on behalf of the smaller quoted company sector.  

Our equity markets work includes:

  • IPOs: main list, AIM and PLUS
  • Secondary offerings including rights issues, placings and open offers
  • Pre IPO fundraising
  • Restructurings and reorganisations.  


Our debt capital markets work involves:

  • Securitisations / CDOs
  • Derivatives and structured finance products
  • Bond issuance work (both stand-alone and programme).  


Our governance and compliance work covers:

  • Advice on the compliance and regulatory obligations of market participants in the increasingly complex global environment.  


Our M&A work incorporates:       

  • Takeovers (whether by offer or scheme of arrangement)      
  • Acquisitions/disposals of private companies for plcs        
  • Joint ventures. 
     

Experience  

Equity capital markets

  • In 2008 we worked on five IPOs and on nine secondary issues.  
  • Advising Ambrian Partners in its role as nominated adviser on the reverse takeover of AIM listed Falklands Gold and Minerals.   
  • Following the disposal by TRIO Finance of its asset-backed securities portfolio held through subsidiary TREAL plc, we acted for TRIO on its $44.8m tender offer and return of equity to shareholders.   
  • Advising Kryso Resources plc, the AIM listed mineral exploration company, on its £3.1 million proposed financing.  
  • As an example of our pre IPO funding work, we have acted for Intelligent Energy, a leading innovator of clean fuel cell and power technologies, on the latest in a series of funding rounds raising over £40m in aggregate.   

Mergers & acquisitions

  • We advised long-standing client, Ecclesiastical Insurance Office plc, on its business purchase of insurance brokerage, South Essex Insurance Brokers (SEIB), and on its strategic acquisition of an interest in insurance broker Lycetts Holdings Limited  
  • Advising AIM-listed Coolabi plc on its purchase of Licensing by Design Limited (LBD).  LBD represents a number of intellectual property assets including Bagpuss, The Clangers and Ivor the Engine.  
  • Representing Atlas Design Group AB (Atlas) on its purchase of the Jean-Charles de Castelbajac group of companies and related business and assets from the Administrators of Marchpole Holdings PLC.    
  • Advised on the merger of an independent media agency specialising in entertainments communication and a brand communication and designs consultancy, so as to enable the acquisition of a third business providing integrated creative services to the media industry.   
  • We acted for longstanding client Cable & Wireless on a number of projects during 2008 including on the disposal of a non-core operation.  

Corporate governance, restructurings, financings and joint ventures

  • We support a number of clients on their constitutional, corporate governance and AGM requirements including Cable & Wireless, Vedanta Resources plc and The Game Group plc.  
  • Advised Pacific International Management on a series of refinancings of its investments in businesses in the natural resources sector, including its stakes in Gresham House plc, a listed investment trust, AIM quoted Enegi Oil plc and its joint investment with Rheochem in Zeus Petroleum.  
  • The firm also advised OLM on its acquisition of the Pavilion Publishing and Keyways Publishing groups of companies.  These strategic acquisitions have enabled OLM to build a modern integrated media business division aimed at the care sector.   

Debt capital markets expertise

  • Advised Wharton Asset Management and AE Global Investment Solutions in connection with the issuance of managed cash and synthetic collateralised debt obligation transactions, totalling an aggregate note issuance size of in excess of US$17 billion.  These have comprised both stand-alone and programme issuances listed on the Irish Stock Exchange.   
  • Throughout 2008 and 2009, we have continued to work in the field of structured finance, including significant transactions in the UAE.  Following the credit crunch, we have also advised on the unwind of a number of securitisation vehicles and related delistings and, at the same time, the formation of new fund vehicles and new issuances to exploit the market opportunities for the acquisition of discounted ABS.