7 June 2011
The capital markets team at city firm Charles Russell has recently strengthened its offering with the addition of solicitor Timothy Sumner in London and Zoe Pepper in Oxford. The new hires are the latest addition to the team after the appointment of partner, Lauri-Lynn Pursall earlier this month.
Timothy joins the firm from Minter Ellison’s corporate and energy and natural resources practice in Brisbane, Australia. In addition to working on mergers and acquisitions, capital markets and general corporate matters, Timothy also undertook a wide range of corporate and commercial work across the energy and natural resources sector.
Expanding the Oxford office’s Capital Markets and public M&A capability, Zoe joins the firm from Slaughter and May. In addition to a background in a variety of corporate and corporate finance transactions, Zoe has international experience having undertaken a six month secondment at Gernandt & Danielsson in Stockholm.
Recent Capital Markets Deals
These recent additions to the team follow a successful six months for Charles Russell’s experienced cross-office capital markets team, which has advised on transactions with a value of over US$550 million, including the following:
Centamin Egypt Limited
Charles Russell advised mineral exploration, development and mining company, Centamin Egypt Limited, on a placing of new shares to raise US$135 million. Listed on both the London Stock Exchange and the Toronto Stock Exchange, the company’s Sukari Gold Mine is the first modern mine in Egypt and is located in the country’s Eastern Desert near the Red Sea coast. Bank of America Merrill Lynch acted as co-lead manager and sole bookrunner to the placing and Stifel Nicolaus & Company, Inc. acted as co-lead manager.
Zanaga Iron Ore Company Limited
Zanaga Iron Ore Company Limited was advised by Charles Russell on its admission to AIM and related placing of new and existing shares, raising a total of US$100 million (US$50m for each of the company and the selling shareholders), with a market capitalisation of $700 million on admission. Liberum Capital Limited acted as nominated adviser, sole bookrunner and broker to the transaction.
Subsequent to its AIM admission, Charles Russell also advised Zanaga on a call option by Xstrata Projects Pty Limited to acquire 50% plus one share of Zanaga's subsidiary which holds the Zanaga Project in return for a commitment to fund a feasibility study to a minimum of $100 million.
Ncondezi Coal Company Limited
Having previously acted for coal exploration and development company, Ncondezi Coal Company Limited, on its 2010 admission to AIM and associated fundraising, Charles Russell advised the company on its $52 million cash placing. Liberum Capital Limited acted as broker, sole bookrunner and placing agent.
Mwana Africa plc
Charles Russell advised long-standing client Mwana Africa plc, an AIM listed pan-African resources company, on its conditional US$15 million cash placing. Ambrian Partners Limited acted as nominated advisor, broker and joint placing agent and GMP Securities Europe LLP also acted as joint placing agent.
J.P. Morgan Securities Ltd, Macquarie Capital (Europe) Limited and Renaissance Capital Limited
Charles Russell acted for J.P. Morgan Securities Ltd, Macquarie Capital (Europe) Limited and Renaissance Capital Limited in respect of a placing of shares on behalf of Max Petroleum plc to raise $85 million. AIM-listed Max Petroleum is an independent oil and gas exploration and production company focused on Kazakhstan.
WH Ireland Limited
Charles Russell advised WH Ireland on a placing for Avation plc, to raise £10m before expenses in order to fund the pre-delivery payments for eight aircraft after the company entered into a deal with Skywest Airlines (Australia) Pty Ltd and Virgin Blue Airlines Pty Ltd to provide a fleet of up to 18 new commercial aircraft which will operate along the length of the Eastern coast of Australia.
Charles Russell also advised WH Ireland as placing agent on a secondary placing for Goldplat plc, the AIM quoted gold producer focussed on Africa.
FirstEnergy Capital and Seymour Pierce
Charles Russell advised FirstEnergy Capital LLP and Seymour Pierce Limited in respect of a placing of shares on behalf of AIM-listed Gold Oil plc to raise £10 million. Gold Oil is an independent oil and gas exploration and production company focused on identifying oil and gas interests in Latin America, in particular Peru and Colombia.
Simon Gilbert, head of Corporate Finance and Capital Markets at Charles Russell, commented: “We are delighted to welcome this month’s new joiners, Lauri, Timothy and Zoe. These quality appointments further strengthen our existing Equity Capital Markets and M&A practices and help reinforce our position as a leader in the natural resources sector. The high level of deal flow has been a great testament to the excellent quality and reputation of the whole team, and demonstrates our capabilities in this sector”.
Daryl Atkinson, Marketing Director
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