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Nabarro advises John East & Partners on AIM admission for Adili
17 December 2007
Nabarro has advised long standing client John East & Partners Limited (JEP) on the admission to AIM of Adili plc. JEP acted as Adili's nominated adviser and broker.
JEP is a member firm of the London Stock Exchange, specialising in providing corporate finance advice and raising capital for smaller public companies and companies seeking a public listing.
Adili plc, which means ‘ethical' and ‘just' in Swahili, was launched in September 2007 as an online shop for ethical fashion. Adili sources and offers a range of fashionable clothes and accessories for men, women and children from a range of ethical brands.
Adili was admitted to AIM on 12th December 2007, and at the date of admission, Adili's market capitalisation was approximately £4.6 million. Adili placed 8,571,600 ordinary shares at 17.5p per share to raise £1.5 million gross. The net proceeds will fund growth, including the creation of Adili's ‘own label' collection.
The corporate team at Nabarro was led by corporate partner Clare Grayston, assisted by Alexandra Marsh and Richard Beavan (corporate). Manches LLP acted as Adili's legal advisers and Nexia Smith & Williamson Audit Limited acted as Adili's auditors and reporting accountants.
Clare Grayston, corporate partner, commented:
"We are delighted to have worked with John East & Partners on this latest admission, particularly as it highlights the growth within the market for ethical products. I look forward to our continuing our business relationship with them."
For further information please contact:
Charlotte Tandy
Lansons Communications
T +44 (0)20 7566 9706
charlottet@lansons.com
or
Clare Grayston
Partner, Nabarro
T +44 (0)20 7524 6709
c.grayston@nabarro.com
