Kerman & Co’s Corporate & Capital Markets Team advised Emmerson Plc (the “Company”) on the successful placing on 15 February 2017 of 30,433,242 new ordinary shares of no par value in the Company at a placing price of 3p per new ordinary share, and admission of its entire share capital, being 48,183,344 ordinary shares of no par value, to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities.
Emmerson Plc was registered and incorporated in the Isle of Man and is targeting acquisitions with a net present valuation of up to £100 million (the "Acquisition"). Following completion of the Acquisition, the objective of the Company will be to operate the acquired business and implement an operating strategy with a view to generating value for its shareholders through operational improvements as well as potentially through additional complementary acquisitions following the Acquisition.
The Company's efforts in identifying a prospective target company or business will not be limited to a particular industry or geographic region. However, given the experience of the Directors, the Company expects to focus on acquiring an exploration or production company or business in the natural resources sector with either all or a substantial portion of its operations in South East Asia, Africa, and the Middle East.
Joan Yu, a Corporate Partner, Jack Kemmish, a Corporate Solicitor, with Gregory Monk, a Trainee Solicitor, led the Corporate and Capital Markets team advising on the legal aspects of the listing.