Hamlins advises on AIM placing for Egdon Resources PLC13th May 2014
The Hamlins corporate finance team advised Cantor Fitzgerald Europe and London-based investment bank VSA Capital (which is focused on the natural resources sector) in an institutional placing on AIM for Egdon Resources plc. The placing supports Egdon’s acquisition of certain UK petroleum licences from AIM listed Alkane Energy plc and an associated open offer to Egdon shareholders.
Egdon is a UK oil and gas company with exploration and producing oil and gas fields onshore and offshore UK and exploration licences onshore in France. The licences to be acquired from Alkane are prospective for shale gas. The placing, open offer and acquisition are conditional on Egdon shareholder and UK governmental approval and completion is expected on 6 June 2014.
The Hamlins team was led by corporate partner Ian Binnie. Norton Rose Fulbright acted for Egdon.
Commenting on this latest capital raising transaction Ian Binnie said “The Hamlins corporate team remains extremely active in AIM transactions. Our impressive profile in the energy sector and in natural resources in general provides us with a healthy work stream from existing and new clients, including both listed and private corporates, investment banks and corporate finance houses. We continue to invest in building up our corporate team around natural resources and Hamlins’ other key sector strengths.”