Reconstructions

VietNam Holding Limited

Advised VietNam Holding Limited on a tender offer to repurchase shares and amendments to the company's management fee arrangements with its investment manager Dynam Capital, Ltd. 

Gulf Investment Fund plc

Acted for Gulf Investment Fund plc in connection with a 100% tender offer and related whitewash, including the publication of a shareholder circular

Alternative Liquidity Fund Limited  

Advised Alternative Liquidity Fund Limited on the transfer of its listing to the Specialist Fund Segment of the London Stock Exchange and cancellation of admission to the Premium Segment of the Official List.

Liberum Capital Limited        

Acted for Liberum Capital in its role as nominated adviser and broker to Urban Exposure plc, an AIM-traded specialist residential development finance and asset management company, in respect of a tender offer to Urban Exposure shareholders to return £65 million of capital to shareholders.

Grit Real Estate Income Group Limited       

Acted for Grit, a leading pan-African real estate company, on both its transfer from the standard listing segment of the Official List to the premium listing segment and its migration from Mauritius to Guernsey.

Aseana Properties Limited    

Advised Aseana Properties Limited on the terms of its proposed demerger of certain assets held by it in exchange for the buyback and cancellation of a significant percentage of its issued ordinary shares.

Nplus1 Singer Advisory LLP 

Advised Nplus1 Singer Advisory LLP in its role as sponsor to The PRS REIT plc in connection with its application to the FCA for its issued share capital to be admitted to the premium segment of the London Stock Exchange's main market.

Premier Miton Global Renewables Trust plc

Advised long-standing client Premier Miton Global Renewables Trust plc on a restructuring and rollover of its zero dividend preference shares and a fundraise by the issue of further ZDP shares.

GLI Finance Limited

Advised long-standing client GLI Finance Limited on a complex fundraising and restructuring. GLI is a specialist provider of alternative finance to SMEs.

Invesco Income Growth Trust PLC

Acted for Invesco Income Growth Trust PLC in connection with recommended proposals for the reconstruction and voluntary winding-up of the fund (by way of a scheme of reconstruction proposed to be effected under section 110 of the Insolvency Act 1986) with the rollover option being UK Equity shares in Invesco Perpetual Select Trust plc.   

Jupiter UK Growth Investment Trust PLC   

Acted for Jupiter UK Growth Investment Trust PLC in connection with recommended proposals for the reconstruction and voluntary winding-up of the fund (by way of a scheme of reconstruction to be effected under section 110 of the Insolvency Act 1986) with the rollover option being Sterling Class B Distribution Shares in Brown Advisory Global Leaders Fund, a sub-fund of the Brown Advisory Funds plc, an Irish UCITS scheme.

Jupiter Dividend & Growth Trust PLC

Acted on the recommended section 110 scheme for the reconstruction and voluntary winding up of Jupiter Dividend & Growth Trust PLC with the option for zero dividend preference shareholders, common shareholders and ordinary income shareholders to roll over some or all of their investments into shares in Jupiter UK Growth Investment Trust PLC, another closed end listed fund managed by Jupiter Asset Management.

Henderson Reconstruction

Separate teams at the firm acted for three investment trusts managed by the Henderson Global Investors Limited whereby Henderson Global Trust plc was reconstructed under section 110 of the Insolvency Act 1986 and its assets transferred to Henderson International Income Trust plc and The Bankers Investment Trust PLC.

NextEnergy Solar Fund Limited 

Aact as the fund lawyers, banking lawyers and project lawyers to NextEnergy Solar Fund Limited, a London-listed fund focused on acquiring solar photovoltaic assets, with a gross asset value of nearly £1 billion.  

Premier Energy and Water Trust plc

Advised on a complex court approved scheme of arrangement to effect an extension of the life of the listed fund by moving an existing zero dividend preference share class into a newly incorporated subsidiary.

Fair Oaks Income Limited 

Acted for the Fund on its initial launch in 2014. In 2017, we acted for the Fund in connection with its reorganisation proposals, whereby a new master fund was established and the Fund's existing ordinary share class was re-designated as two separate share classes, with one class being exposed to the new master fund and the other class to the existing master fund (which has an earlier planned end date than that of the new master fund). The proposals provided shareholders with the choice to elect to extend the duration of their investment or realise their investment when the existing master fund comes to the end of its life.

Jupiter Second Split Trust plc

Acted on the recommended section 110 scheme for the reorganisation and voluntary winding-up of this listed fund with the option for zero dividend preference shareholders to roll over some or all of their investment into units in the Jupiter Strategic Reserve Fund, an authorised unit trust.

Atlantis Japan Growth Fund Limited

Advised longstanding client, Atlantis Japan, in respect of its defence to LIM Advisors’ attempt to wind-up Atlantis Japan and for all investments to be realised and realisation proceeds to be returned to shareholders. 

Acorn Income Fund Ltd 

Advised Acorn on a successful refinancing of its zero dividend preference shares. Existing ZDP shareholders were offered the opportunity to continue their investment in the Company beyond the stated repayment date of 31 January 2017 with over 90% electing to continue their investment until 2022 on revised terms. Further ordinary shares and ZDP shares were also issued under a placing and offer for subscription.

Contact
Contact

To find out more, drop us a line

 
 
SHCapitalMarkets@shlegal.com