Public Company Update: May 2019
Welcome to the May 2019 edition of our biannual Public Company Update, for directors and in-house counsel of quoted companies, nomads/brokers and sponsors, and other corporate finance professionals and intermediaries.
We have had a busy start to the year, supporting a range of transactions for companies across AIM and the Main Market. A particular highlight for the team was acting for advertising technologies platform provider Taptica International Ltd on its £136 million recommended all share offer for AIM listed RhythmOne plc. We were delighted to advise on this strategic takeover, having acted for Taptica (then named Marimedia) on its IPO on AIM in May 2014, and look forward to seeing the company continue to build on its success.
The team as a whole continues to see strong deal flow in M&A activity as well as primary and secondary fundraisings. We include four articles in this edition of our Public Comnpany update, which I hope you find both insightful and informative.
Mark Howard, Partner
Shareholder Rights Directive II: effective from 10 June
Unless a “no-deal” Brexit occurs before that date, the Government is set to transpose SRD II into UK legislation. Victoria Younghusband highlights two areas which affect companies admitted to listing on the Official List, the Specialist Fund Segment or High Growth Segment of the London Stock Exchange.
Points of practice: accelerated whitewashes
In this article, Mark Howard outlines some points of practice in relation to the accelerated procedure which is relevant to situations where a waiver is needed from an obligation to make a mandatory offer under Rule 9 as a result of the issue of new securities as consideration for an acquisition or a cash subscription.
An update on periodic financial information and inside information
Victoria Younghusband provides an update on the FCA's draft technical note and PMB no.23 feedback. In April 2019, the FCA published the final version and gave feedback on the consultation in the accompanying PMB 23.
Status update: The Prospectus Regulation 2017
Notwithstanding the uncertainty surrounding the timing and ultimate destination of Brexit, European legislation continues to apply to capital markets in the UK. The Prospectus Regulation 2017 is due to come fully into force from 21 July 2019 and will therefore apply to prospectuses vetted by the FCA. Paul Arathoon highlights four key further provisions.
IBA Annual Conference
The IBA heads to Miami for its 2022 Annual Conference bringing together thousands hundreds of lawyers from around the world.
Charles Russell Speechlys has advised the owners of The Centre for Reproductive and Genetic Health (CRGH) on its sale to FutureLife
CRGH is the largest private fertility clinic in the London IVF market.
The Growing Importance of Environmental, Social and Governance (ESG) considerations for public and private entities in the UAE
Charles Russell Speechlys advises Puma Private Equity on its investment into MUSO
We have advised long-term client Puma Private Equity on its investment into MUSO TNT Limited.
IT Pro quotes Mark Howard on investment in UK tech start-ups
"The UK has the strongest venture and growth capital funding ecosystem in Europe.”
Saudi Arabia’s New Companies Law – the Key Changes
On 28 June 2022, the Kingdom of Saudi Arabia (KSA) approved a new companies law,
Register of Overseas Entities: What are the deadlines for trust structures holding UK real estate?
The ROE is intended to launch on 1 August 2022 - read more about the deadlines trust structures holding UK real estate will be facing
Charles Russell Speechlys Luxembourg advises Alpac Capital on the acquisition of a majority stake in Euronews
The deal, originally announced in December 2021, was concluded following approval by the French Government, few days ago.
Charles Russell Speechlys has advised the shareholders of In Touch Games on its sale to Skywind
In Touch is a gaming business with eight well-known casino brands including mFortune, Jammy Monkey and Mr Spin.
Charles Russell Speechlys advises the sellers on the sale of the entire issued share capital of GPW Group Limited to J.S. Held LCC
Charles Russell Speechlys advises on the sale of the entire issued share capital of GPW Group Limited to J.S. Held LCC
Media & Entertainment: The Changing Landscape in the Middle East
The media and entertainment industries in the Middle East have changed significantly since the onset of the Covid-19 pandemic.
City AM quotes Paul Stone on the CMA's investigation into Amazon
"The latest UK investigation looks like a “carbon copy” of its European counterparts"
Charles Russell Speechlys acts for Maitland Medical Services Ltd on its acquisition of Soma Health Limited
We have advised Maitland Medical Services Ltd on its acquisition of Soma Health Limited.
7 top tips for Food and Beverage brands preparing for Private Equity investment
Planning and preparing for investment into your F&B business in advance of entertaining discussions will stand you in good stead.
Charles Russell Speechlys advises Zenzero on the acquisition of OnTech
Zenzero is one of the fastest growing service providers in the UK, supporting over 10,000 users across a variety of industries.
Charles Russell Speechlys advises Caretech Holdings PLC on its proposed £870.3 million take private
Charles Russell Speechlys is advising the independent board of Caretech Holdings PLC, in its take private sale to Amalfi Bidco Limited.
Charles Russell Speechlys advising Battery Ventures on the sale of SPT Labtech for £650 million.
Battery Ventures has raised over $9 billion to invest in software and services, enterprise infrastructure, and much more around the world.
Charles Russell Speechlys has advised long-standing client Stonegate on a series A investment into Peckwater Brands
Stonegate is one of the largest pub companies in the UK with a rich portfolio that covers over 4,500 sites.
Charles Russell Speechlys acts on the sale of CAJ Mercian Holdings Limited
Mercian Logistics is an independent logistics business and services both businesses and private individuals
Charles Russell Speechlys advises Content+Cloud on the acquisition of award-winning service provider Azzure IT
Content+Cloud continues its growth journey, this is our 7th successful transaction for them.