Nabarro advises on BIMBO and AIM admission for Shieldtech
15 August 2007
Nabarro has advised Base Group PLC on the acquisition of Shieldtech Limited, placing to raise £10,000,000 and application for admission of the enlarged share capital to trading on AIM. The new company is to be called Shieldtech PLC with a market capitalisation on admission of £13.1 million.
Base Group was a shell company chaired by Adrian Bradshaw of Bradmount Investments Limited. Shieldtech is a leading designer, manufacturer and distributor of ballistic protection equipment (predominantly body armour) to UK police forces.
The corporate team at Nabarro was led by corporate partners Clare Grayston and Iain Newman assisted by Peter Stewart, Rajni Jayasekera and trainee Adel Shetty, with support principally from Catrin Evans (Banking), Will Santer (Employment) and Siobhan Crouch (Tax). The nominated adviser was Seymour Pierce Limited, who was advised by Bird & Bird. Grant Thornton UK LLP was the reporting accountant. Bank finance was provided by HSBC.
Clare Grayston said:
"Nabarro have a wealth of experience advising on AIM admissions but the combination of an acquisition, which was effectively a BIMBO, bank financing, placing and admission made the completion a little more complicated than your average admission."
If you would like any further information or have any queries please contact:
Charlotte Tandy
Lansons Communications
T 020 7566 9706
charlottet@lansons.com
