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
Climate-related financial disclosures for premium listed commercial companies
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.
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.
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.
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?
European Single Electronic Format (ESEF) reporting
We take a closer look at delays to ESEF electronic annual financial reporting implementation.
Service charge demands: a reminder of key principles
What are the key principles, implications and key takeaways?
Tattoos, athletes and image rights
Campaigns featuring athletes often include visible tattoos and a number of recent legal cases demonstrate the issues that may arise.
Food Sector steps up on climate goals
Record success for Charles Russell Speechlys’ Private Wealth practice in Chambers HNW 2021 directory
We are delighted to have once again been recognised as a leader in our field in the Chambers High Net Worth 2021 Guide.
Finance Bill 21/22: the implications for corporate taxpayers
The Finance Bill 2021-2022 was published yesterday. What impact will this have on corporate tax payers?
Barclay v Barclay: A Stark Reminder for Badly Behaved High-Profile Litigants
David considers the Barclay v Barclay case and if the judgment should be published, given it's severe criticism of Lord Barclay's conduct
Property Patter: dealing with COVID-19 arrears and the future of commercial tenancy relationships
What are the government’s plans for dealing with pandemic arrears and commercial tenancy relationships?
Emma Preece writes for Property Week on complying with vacant possession conditions
The Court of Appeal recently grappled with the issue of vacant possession in Capitol Park Leeds Plc v Global Radio Services.
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.
Jennifer Berritt and Lauren Kelly write for P3 Pharmacy on The Lease Code and looking for better lease terms
The Lease Code published by The Royal Institution of Chartered Surveyors took effect on 1 September 2020.
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.
Blue Sky Linking
Daniel looks at Sky's recent success in obtaining interim protection from infringement of their broadcast rights
COVID-19 Vaccination – can an employer make it compulsory for employees?
We review what legal issues to take into account when considering to make vaccination compulsory as an employer.
Charles Russell Speechlys advises on the sale of No.1 Lounges Ltd to SwissportALD
SwissportALD will run nine No.1 Lounge properties at the UK’s London Heathrow, London Gatwick, and Birmingham airports.
Property Patter: The Electronic Communications Code – what are the current issues with negotiating telecoms agreements?
We discuss some of the practical issues arising out of the Electronic Communications Code.
Northern Light: Illuminating IR35
Guy and Hugh take a look at the recent case of Northern Light Solutions Ltd v Revenue and Customs Comrs
Charles Russell Speechlys releases H1 2021 deal highlights
Our deal highlights from the past 6 months are now available.
Joseph Green writes for Property Week on whether special-purpose vehicle leases can be used to avoid empty rates
A recent Supreme Court judgment clarified where the burden of paying empty rates should lie.
Noel Wardle wrote for Chemist & Druggist on the implications of the new Health and Care Bill mean for community pharmacy
The government has now published its proposed overhaul of health and care in England.
Emma Preece quoted by Estate Gazette on the implications of the Court of Appeal's decision in Capitol Park Leeds v Global Radio Services
The Court of Appeal backed tenants in an unusual case about the condition in which tenants are obliged to return premises to landlords.