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.
Sponsor Licence Compliance: Key considerations & how to be audit ready
Join us for the third in our series of mini webinars on post Brexit immigration about sponsor licence compliance.
UK SPACs: could changes to the UK Listing Rules spark an increase?
SPAC listing popularity has increased. Could the UK be the next hotspot following proposed changes to the Listing Rules?
Sustainable Investing: From ESG Integration to Impact Investing
We have a wide perspective on the range of issues that fall within the spectrum from ESG to impact investing.
Covid-19 and a public inquiry - what to expect
Liability for costs of repair (City of London v. Leaseholders of Great Arthur House)
Oliver Park writes an article for Lexis®PSL on a property dispute case.
Data Protection: All roads lead back to the GDPR
Across the globe, jurisdictions continue to develop their data protection and privacy laws.
No “New Look” in the latest landlord challenge to a tenant CVA
Daniel and Hannah look at the impact of the recent New Look CVA judgment
Q&A on adverse possession
A successful application for title by adverse possession will result in the squatter acquiring possessory title to land.
New tax on property developers - consultation paper published
The government published a consultation paper on the design of the new residential property developers tax.
Claire Fallows quoted by Planning on how new PD rights for commercial buildings will change the system
Councils should be prepared for a flurry of applications in August.
Oliver Park writes for LexisPSL Property Disputes on liability for costs of repair
Oliver considers the implications of the decision in City of London v Leaseholders of Great Arthur House.
Procuring modular housing: Is MMC becoming mainstream?
Is Modern Methods of Construction becoming mainstream? Read what it means for Development and Procurement here.
Dual class share structures: how do they work and what are the pros and cons?
Dual class share structures allow a shareholder, for example the founder, to retain voting control over a company.
Q&A: Talking the telecoms talk
Georgina Muskett and Jonathan Wills answer queries on Electronic Communications Code agreement.
Property Patter: Navigating the complexities of Pharmacy Property
Pharmacy property is a specialist area which contains many traps for the unwary.
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.
The Lawyer, New Law Journal, International Adviser, CDR Magazine and eprivateclient report on the firm's partner promotions
Charles Russell Speechlys promoted five lawyers to partner, effective 1 May 2021.
Music to our ears? Well, perhaps not for Apple.
A feud first began when the music streaming giant, Spotify, filed a complaint against music streaming provide rand competitor, Apple Inc.
Linking ESG and Executive Pay
How does a business go about embedding a focus on strong ESG performance into the structures and culture of its organisation?
National Security and Investment Act granted Royal Assent
The Act establishes a new regime for the review of mergers, acquisitions and other transactions that could threaten national security.