A team of experts from the international law firm, Gowling WLG, has assisted MD Barnard & Company Limited (trading as Oberon Investments) on the placing of new shares to raise £11.5 million for AIM company All Active Asset Capital Limited (AAA). This was achieved through a placing of 143.75 million new ordinary shares ('the Placing Shares') at an issue price of 8p (‘the Placing Price’) per share ('the Placing').
It is intended that the net proceeds of the Placing will be used by AAA to make further investments in accordance with the Company's stated investing policy.
Gowling WLG corporate partner Hugh Maule led the team on the deal, supported by Caitlin Cumming, Legal Director and partner Ian Mason, who is head of the firm's Financial Services Regulatory team.
Hugh said: "We are pleased to be representing Oberon Investments on AAA's proposing placing of new shares, drawing on our expertise of AIM.
"In what continues to be an extremely challenging market, we are proud to have maintained our strong position as one of the most active legal firms advising clients on the AIM market."
Mike Seabrook who is a director at Oberon, said: "Hugh, Caitlin and the team from Gowling WLG were fast to react to our requirements and gave excellent and timely advice to allow a complicated transaction to complete seamlessly. We were impressed by their ability to turn documents around quickly and ensure that as the sponsoring broker, we had the right advice."