Public Company update - November 2018
Welcome to the November edition of our biannual Public Company Update, aimed at directors and in-house counsel of quoted companies, nomads/brokers and sponsors, and other corporate finance professionals and intermediaries.
Over the past six months we have been busy on a range of transactions for companies across AIM and the Main Market. A particular highlight for the team was the IPO and admission to AIM in June of egg free, fresh cream cakes retailer Cake Box Holdings plc, with the founder shareholders selling 41% of the business to institutional investors. Launched in East London in 2008, the business has grown to have an estate of more than 100 stores and is currently targeting a further 250 franchise stores. We were delighted to have advised this exciting growth company on its successful IPO.
The team as a whole continues to see strong interest in M&A activity and with this in mind we include in this edition an article on the UK Government’s proposed further powers on reviewing mergers and other investments on national security grounds. And with Brexit fast approaching, it would be remiss of us not to consider how the UK’s Equity Capital Markets could be affected. I very much hope you find these articles, and the rest of this November edition, insightful and informative.
Mark Howard, Partner
Equity capital markets and brexit: business as usual?
We consider how ECM could be affected by the UK's impending departure from the EU.
Periodic financial information and inside information
The FCA published a revised draft Technical Note on the requirement to disclose inside information under the Market Abuse Regulation.
UK Government proposes further powers for reviewing mergers and other investments on national security grounds
The UK Government has announced a consultation on proposals to implement a new regime for reviewing mergers and other investments on national security grounds.
Governance within FCA regulated firms
We highlight the impact that the FCA’s approach to culture and governance has in our work on governance with our regulated clients.
Entrepreneurs’ relief: Relief for gains arising before a dilution event
Helen Coward picks out key highlights from the draft legislation for the 18/19 Finance Bill on changes to Entrepreneurs’ Relief.
Victoria Younghusband, Jessica Arrol Caws and Giulia Brunello write for The Bahamas Financial Services Board 's GATEWAY Magazine on the role of IFC's in the post-Brexit environment
Victoria and Jessica consider the changing role for IFCs following the approval of the Trade and Cooperation Agreement.
Phase out of temporary restrictions on use of winding up petitions
Hannah takes a look at the recent UK Government announcement on statutory demands and the presentation of winding up petitions
Preparing your company for sale
We set out here some initial steps to consider in anticipation of a sale.
Overhaul of London's stock market listing regime set to significantly boost capital raising opportunities for founder led UK tech businesses
Charles Russell Speechlys advises discoverIE on its acquisition of Antenova
discoverIE is a leading international designer, manufacturer and supplier of customised electronics to industry.
Charles Russell Speechlys advises Acora on acquisition of Westgate IT
Westgate IT specialises in providing IT support to businesses in the South West.
Charles Russell Speechlys advises Grape Paradise on the acquisition of a fine wine business
Charles Russell Speechlys has advised Grape Paradise on the acquisition of the Sarment Group in the China Mainland territories.
Ongoing supply chain crisis looms large over upcoming allergen law change
The Business Magazine and The Surrey Chambers of Commerce report on the firm's involvement in the sale of Online Fuels Limited to DTN
The firm advised the shareholder management team on the sale of shares in Online Fuels to global data, analytics, and technology group, DTN.
Charles Russell Speechlys advises Appital Ltd on £2.5m Investment led by Frontline Ventures
Appital is an Equity Capital Marketplace which aims to bring innovation to Equity Capital Markets.
The Business Magazine, Insider Media, Business South and The Surrey Chambers of Commerce report on the firm's involvement in Appital's £2.5m growth capital investment
The injection will accelerate the development of Appital’s technology infrastructure, integration with financial institutions.
Healthcare team advises Country Court Care on £57m sale of three care homes
Country Court Care Group Ltd has been active almost 35 years as a nursing and care home operator.
Pei Li Kew
B[re]aking up is never easy... a lesson from the Oetker business split
Charles Russell Speechlys advises Metier on US$39m investment into Africa Mobile Networks
AMN builds, owns, operates and maintains mobile network infrastructure in Africa.
Charles Russell Speechlys advises Apposite Capital on acquisition of i2a Diagnostics
i2a is a leading provider of laboratory instruments, software and reagents for the clinical microbiology market in France.
Brace yourselves: dentists could be liable for actions of self-employed staff
Private companies and public interest – a new approach to corporate governance?
Is now the optimal time to sell your company?
Charles Russell Speechlys advises Duke Royalty on royalty financing agreement with Fairmed Healthcare AG
Duke Royalty is the leading provider of royalty finance to companies in the UK and Europe.
Charles Russell Speechlys shortlisted for Best EIS/SEIS Legal/Regulatory Adviser at 2021 EISA Awards
The Awards denote excellence and recognise the achievements of EIS/SEIS practitioners over the past year.