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.
Construction & Infrastructure Seminar
Experts will give insights and analysis on Building & Fire Safety, Case law updates and global supply shortages.
Charles Russell Speechlys advises shareholders of eCommonSense on sale to ECI Software Solutions
eCommonSense is a technology solutions provider focused on the construction and building materials supply sectors.
Resilience vs. Recovery - How the Facebook outage highlights important lessons
The recent Facebook outage disrupted all of its key global platforms, including Instagram and WhatsApp.
Examining the draft RPDT legislation
Helen Coward considers the important aspects of the draft legislation for the new residential property developer tax.
Property Patter: Dealing with Sporting Rights over Land
Sporting rights can cause issues particularly if they are granted over land which may be developed in the future.
Charles Russell Speechlys wins best Legal Services: Private Equity at the Africa Global Funds Awards 2021
We are delighted to announce we have been awarded the Legal Services: Private Equity award at the AGF Service Providers Awards 2021.
Caroline Greenwell quoted by Food Navigator on how organisations can avoid the greenwashing trap
New reviews on misleading claims in early 2022 will pressure companies to provide concrete evidence of their sustainability credentials.
Charles Russell Speechlys advises Silbury Finance on a £55m facility to a Jersey unit trust
Silbury provides real estate development finance for professional developers seeking to acquire and build in the UK.
Who will carry the risk? Professional indemnity crisis in construction
The UK government announced details of its ban on the use of combustible materials on high rise buildings.
Charles Russell Speechlys acts for Cmostores Group Limited on its acquisition of JTM Plumbing Limited
CMO Group Plc, UK’s largest pureplay online retailer of building materials which recently listed on AIM.
David Haines writes for Property Week on preparing for future pandemics
Since the onset of the pandemic, landlords and tenants have been grappling with how to deal with future pandemics in new leases.
The role of IFCs in the post-Brexit environment
International Financial Centres (“IFCs”), are now on a level playing field with the UK when approaching the EU market.
Helen Coward writes for Tax Journal on the draft legislation for the new residential property developer tax
The government published draft legislation for the new residential property developer tax on 20 September 2021.
The United Arab Emirates Joins the Madrid System
It was another exciting year at the Arabian & African Hotel Investment Conference (AHIC) .
Charles Russell Speechlys advises the founders of Compandben on the sale of the business to TopSource Worldwide
Compandben is one of the longest established international providers of employment solutions.
Construction Update on Building Safety and the Golden Thread
Find out about the construction update on Building Safety and the Golden Thread.
The importance of anticipating the restructuring of State Guaranteed Loans
Denis looks at the importance of anticipating the restructuring of State Guaranteed Loans
Supply chain going flat
Charles Russell Speechlys Hong Kong successfully defends equal opportunities action brought against Novartis
We have successfully defended NYSE-listed healthcare company Novartis against an equal opportunities action filed by a former employee.