Client work
Capital Markets Group advises on Re-Admission of Critical Metals plc to Official List and LSE's main market and related equity fundraising
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Gowling WLG has acted for Strand Hanson Limited (financial adviser) and Peterhouse Capital Limited (broker) on the re-admission of the share capital of Critical Metals plc ("Critical Metals") to listing on the Official List (standard segment) ("Standard Listing") and to trading on the London Stock Exchange's main market for listed securities (the "LSE's Main Market") , on its 'reverse takeover' transaction (the acquisition of a 57% interest in Madini Occidental Limited, which itself holds an indirect 70% interest in the Molulu mining project in the Democratic Republic of the Congo ("DRC") and simultaneous placing of new ordinary shares (with warrants attached) to raise £1.8 million for Critical Metals.
Critical Metals, a mining investment company established to acquire mining opportunities in the critical and strategic metals sector, had its shares admitted to a Standard Listing and to trading on the LSE's Main Market on 29 September 2020 and has been pursuing a suitable acquisition since that time.
The Gowling WLG team was led by Corporate Partner, Jeff Elway, assisted by Associate, Abby Parkin.
Jeff said: "The proposed acquisition was announced by Critical Metals plc as far back as 20 May 2021 and the listing of its shares were suspended at that time, almost 16 months ago. We are delighted to have been involved in Critical Metals finally making an acquisition in its target sector and finally getting Critical Metals' shares re-admitted after what has obviously been an protracted process (aligning the interests of numerous different parties in the UK, Mauritius and the DRC) and testing the patience of even the most committed shareholders of Critical Metals."
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