Public Company Update - May 2021
Welcome to the May 2021 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.
With successful vaccine programmes rolling out across the globe, and economic recovery on the horizon, the first few months of 2021 have seen fresh momentum and confidence in the markets, with the expectation of
increased future activity. Our Capital Markets team has been supporting clients as they continue to adapt and innovate, both domestically and internationally, to futureproof their businesses and market position.
In January, we hosted our annual AIM seminar virtually with guest speakers Marcus Stuttard (Head of AIM) and David Horner (Managing Director at Chelverton Asset Management Limited) joining our capital markets panel. We also hosted a virtual roundtable in March, focussing on listing in London for Hong Kong and Asian companies and investors. Victoria Younghusband and Andrew Collins were joined by guest speakers Tom Attenborough (Head of International Business Development, Primary Markets) and Jon Edwards (Head of Primary Markets, Asia) from the London Stock Exchange and Giles Rolls from finnCap, with the session moderated by Julia Charlton, founder of Hong Kong boutique corporate finance law firm, Charltons. The webinar is available on the LSE’s Spark Issue services hub here.
Work highlights for our team have included advising Shore Capital as nominated adviser, broker and bookrunner on a £56.5m fundraising for Lloyds investment company Helios Underwriting Plc, N+1 Singer as nomad and broker on a £10m capital return to the shareholders of Zytronic plc and Avation plc on its £7.5m secondary placing. We were also delighted to advise Tamesis Partners LLP, Ashanti Capital Pty Ltd and Shard Capital Partners LLP as joint brokers to Trident Royalties plc, the growthfocused
mining royalty and streaming company, in connection with a £20.2m placing and subscription for new Ordinary Shares.
As a wider team, we continue to work with 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
Proposed Takeover Code Amendments – Key Changes
Dual class share structures: how do they work and what are the pros and cons?
In his recent Listing Review, Lord Hill recommended that the listing rules applicable to the premium segment be amended to permit dual class share structures. Mark Howard takes a closer look.
National Security and Investment Act granted Royal Assent
Paul Stone explores the new powers that the Act will extend to the UK Government, and what type of transactions this will affect.
UK SPACs: could changes to the UK Listing Rules spark an increase?
ESG – Searching for substance behind the acronym
Environmental and societal goals can and should relate to and enhance a company’s business plan and commercial success. We have partnered with investor services group IQEQ to produce a white paper looking at the impact of ESG on businesses, investments and stakeholder relationships.
Mind the Gap: Top 10 Tips where there is Unregistered Land between Adopted Highway and Development Land
Providing you with the top ten tips of Unregistered Land between Adopted Highway and Development Land - what should you know?
Changes to Right to Rent Checks from 1 July 2021
Following the UK’s departure from the EU, the right to rent checks grace period of six months will end on 30 June.
Property Patter: the news so far on landlord challenges to retail CVAs
We review some of the recent high-profile landlord challenges to tenant CVAs,
Will Covid rent suspension clauses become the new norm?
Post-Brexit business visitors and working in France, Germany, Spain and the UK
Immigration specialist Paul McCarthy will be joined by speakers from Karl Waheed Avocats , Noerr and Sagordoy Abogados.
Brexit and withholding taxes
A key change at the end of the transition period is that the UK is no longer bound by either the EU PSD or IRD.
Africa Global Funds Webinar: Due Diligence for PE Funds in Africa
Victoria Younghusband joined the panel discussing the challenges around due diligence for funds in Africa.
Top 7 Data Protection Tips for Employers
Here are our top 7 data protection tips for employers.
There has been an increase in online phising attacks over the past year - but why?
Carers Week sees Charles Russell Speechlys partner with Martin Searle Solicitors and Frenkel Topping to deliver pilot pro bono “Ask the Experts” legal session for Bromley Mencap
Charles Russell Speechlys has partnered with Martin Searle Solicitors and Frenkel Topping
Building Safety and the “Golden Thread”
What you should be doing now
Exclusion clauses in freezing orders
The principles illustrated in Crowther v Crowther and Moutreuil v Andreewitch.
Charles Russell Speechlys advises Avicenna Group on duo of pharmacy group acquisitions
The acquisition takes Avicenna to a total of 135 pharmacy branches.
The Nature and Prevalence of Pro Bono Partner Roles Globally hosted by DLA Piper
A conversation with four Pro Bono Partners
Charles Russell Speechlys advises IFS on acquisition of Axios Systems
Axios Systems PLC is a global provider of cloud-based Enterprise Service Management (ESM) software.
Planning Gateway One to introduce new fire safety requirements for high rise residential buildings
The government is introduce a number of new requirements to the planning system - read what the requirements will mean here.
Lasting Powers of Attorney: What you need to know and what is new
A five-minute guide for advisers and money managers
Charles Russell Speechlys advises Apollo Aerospace Components on acquisition of NYK Component Solutions
Apollo is an aerospace and defence supplier.
Charles Russell Speechlys have advised Taylor Wimpey UK Limited and Vistry Homes Limited, on the disposal of their interest in the Cambourne Business Park
The £12m land was originally designated as part of an employment zone in the new town, but will now be promoted for 275 residential units.
“Subject to Contract” does not amount to an agreement
What does the recent Aqua Leisure International Limited v Benchmark Leisure Limited mean and what practical tips can be taken?