Expert Insights

Expert Insights

Public Company Update - November 2020

Welcome to the November 2020 edition of our biannual Public Company Update, for directors and in­house counsel of quoted companies, nomads/brokers and sponsors, and other corporate finance professionals and intermediaries.

As we all navigate the ongoing effects of COVID­19, coupled with significant Brexit changes on the horizon, the need for businesses to be flexible and adapt to constant change has never been so paramount. In spite of market volatility, our Capital Markets team has been as busy as ever, with clients looking for innovative ways to seek funding, restructure and regroup.

In July, we advised Oracle Power plc on a £46.5m placing and subscription deed, and LiDCO Group plc, a healthcare products manufacturer, on its £30m share premium account cancellation.

Earlier in the summer, we successfully advised Kreos and Silicon Valley Bank on a $70m private placement for AIM listed Mereo BioPharma Group plc. We were also delighted to advise longstanding AIM listed Transense Technologies Plc on a significant transaction involving the granting of an exclusive worldwide licence for its iTrack technology, and the transfer of the operational business and trading assets relating to iTrack, to Bridgestone
Corporation of Japan.

As a wider team, we continue to support entrepreneurs, management teams, growth companies and investors, supporting them on a wide range of legal issues, both transactional and advisory.

I hope you enjoy this edition of our Public Company Update.

Mark Howard, Corporate Partner

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Following the postponement of the COP26 UN Climate Change Summit to November next year, we take a look at the UK Government’s Green Finance Strategy and its proposals for a new climaterelated disclosure rule for premium listed issuers.

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High Stakes: the FCA issues preliminary guidance for cannabis companies looking to list on the LSE

On 18 September, the FCA set out its approach in assessing applications by cannabis­related companies for listing in the UK.

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IPSX: Real Estate’s new stock exchange

The IPSX is an FCA Regulated market and the first stock exchange for real estate in the world.

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Corporate Governance and Insolvency Act 2020

Aid provided under the Act to companies holding shareholder meetings during the pandemic was extended to 30 December 2020, but what next?

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European Single Electronic Format (ESEF) reporting

We take a closer look at delays to ESEF electronic annual financial reporting implementation.

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