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28 March 2019

Charles Russell Speechlys advises on two Capital Markets deals announced in two days

The Corporate team at Charles Russell Speechlys has advised on both the placing for long-standing client, Transense Technologies Plc, and for joint brokers WH Ireland, Canaccord Genuity and First Energy Capital in relation to i3 Energy plc’s placing to raise £16million. The placings were announced on 12 and 13 March 2019.

Transense Technologies plc, the provider of sensor systems for the industrial, mining and transportation markets, has raised £2.55m to provide working capital to grow and develop its iTrack trade, including the funding of further research and development, which will drive the future growth in iTrack sales. The placing has been structured to close in five separate tranches.

i3 Energy plc, an independent oil and gas company with assets and operations in the North Sea, proposes to use the proceeds of the placing to help fund its planned 2019 multi-well appraisal and development drilling programme at its 100% owned and operated Liberator oil field and Serenity prospect as well as its near term working capital requirements. The placing has been structured to close in two tranches.

The advisory team at Charles Russell Speechlys was led by Corporate Partner Mark Howard and Senior Associate Tom Smitham (on both deals), and comprised Associates Emily Dobson and Amelly Kok (Transense) and Associate Ashwin Pillay (i3 Energy).

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