Capital Markets and Public M&A
Ian Binnie knows the market, he has a lot of attention to detail and nothing will get left out at all with him.
Chambers UK 2021They very much understand what we are doing and how our team works. We can always get a sensible and practical answer from them.
Chambers UK 2021They have some highly respected lawyers who are big hitters.
Chambers UK 2021They are really responsive and available. They are really good and I'm completely satisfied.
Chambers UK 2021Excellent service and insightful advice makes this firm better than others.
Legal 500 2021In-depth understanding of matters and seamless working with lawyers in cross-border jurisdictions.
Legal 500 2021Highly reactive, providing sound corporate advice.
Legal 500 2020As good as the most expensive London law firms, yet much better value for money.
Legal 500 2020Very commercial and super detailed. A good balance of both. They understand the broking side and what is likely to be acceptable to investors and what is not.
Legal 500 2020Head of capital markets at Michelmores, Ian Binnie has a broad practice spanning fund-raisings, takeovers and AIM IPOs among other matters. He knows the market, he has a lot of attention to detail and nothing will get left out at all with him.
Chambers UK 2020Our Capital Markets team is led by London-based partner Ian Binnie who has extensive experience acting for issuers, nominated advisers and brokers in all aspects of London capital markets-related transactions. Several of the corporate partners also benefit from experience working as general counsel to listed and AIM companies. We have advised a number of our clients since incorporation through to an IPO and ultimate exit. The team offer advice, support and experience on both equity issues on the premium and standard segments of the Main Market, AIM and AQSE as well as listings of debt instruments on the LSE’s Order Book for Retail Bonds (ORB).
We offer plc boards with advice and assistance on a range of corporate governance, market abuse and general corporate law and regulation and other corporate action-related issues.
The Michelmores Public M&A team has experience providing potential bidders as well as target companies with detailed advice on the Takeover Code as well as UK and EU competition law considerations. We also regularly advise UK public companies on the impact of the Takeover Code on their acquisition strategies.
Many of the Michelmores corporate partners have previous experience gained as partners at ‘top 20’ international law firms.
Our Capital Markets team have been ranked for Flotations: small and mid-cap in Legal 500 2021. Ian Binnie is a ranked lawyer for Chambers and Partners UK-wide Capital Markets: AIM.
Recent experience
Capital Markets
Acting on the AIM Admission of Tribe Technology plc, the Northern Irish based disruptive developer and manufacturer of autonomous mining equipment. Advising Allenby Capital the IPO fundraising extended to an institutional placing, direct subscriptions, Advance Subscription Agreements (as part of the pre-IPO round), and a retail intermediaries offer through BookBuild
Advising Allenby Capital on the £2.17 secondary fundraising for Deltex Medical Group plc, the England-based maker of blood circulation monitoring systems, which included, in addition to an institutional placing, an retail intermediaries offer conducted via the Rex platform
Acting on the off-market share buyback by JKX Oil & Gas plc structured as a tender offer completed following its delisting from the premium segment of the Official List and cancellation of trading on the Main Market of the London Stock Exchange. The Tender Offer was made by Michelmores’ client S.P. Angel Corporate Finance LLP as principal, structured as an off-market tender offer with a basic entitlement following a reduction of capital by way of a cancellation of share premium account to create distributable reserves.
Advising the sellers of the venture capital trust business of Mobeus Equity Partners LLP on the £20 million vendor placing by AIM quoted acquirer Gresham House plc. The vendor placing was part of a £40 million placing conducted by Gresham House as an accelerated book build. The initial consideration for the acquisition was £24 million with further consideration of up to £12.1 million.
Acting for Arden Partners plc as nominated adviser and broker in the £8.8 million placing and admission to AIM of TSX-V listed Arrow Exploration Corp.
Advising Allenby Capital as nominated adviser and broker in the £2.1 million placing for CloudCoCo plc (AIM) in conjunction with a strategic acquisition.
Acting on the on-market share buyback by United Carpets Group plc structured as a tender offer by N+1 Singer in connection with United Carpet’s de-listing from AIM. Michelmores acted for N+1 Singer as principal under the tender offer and as nominated adviser.
Public M&A
Acting for the independent board of AIM quoted Modern Water plc in the £52 million all-share merger with AIM quoted DeepVerge plc
Acting for Haynes Publishing Group PLC on its acquisition by Infopro Digital Group for a sum of £114.5m
Advising VSA Capital as financial adviser to TrueCommerce Holdings, the global provider of trading partner connectivity and integration solutions, on its £5.7 million recommended cash offer for NEX-quoted proprietary software company, Netalogue plc
Advising VSA Capital as financial adviser to the leading provider of technology solutions for contractors in the North American cleaning and security markets, TEAM Software, on its £18.5 million recommended offer for UK-based technology innovator Innovise
Acting on the Rule 9 mandatory offer by Trillion Trophy Asia for Birmingham City plc
Advising Leybourne Securities on the general offer of Ivy Medical Chemicals plc
Areas of focus
Related news
KEY CONTACTS
Ian Binnie
PartnerTEAM
Richard Cobb
Senior Partner
Edwin Richards
Partner
Harry Trick
Partner
Hollie Halston
Solicitor
Tom Pedel
Solicitor
Gruff Cartwright
Solicitor