Cains has acted as Isle of Man legal counsel to Lamprell PLC (“Lamprell” or the “Company”) on the recommended cash offer by Thunderball Investments Limited (“Thunderball”) of the entire issued and to be issued ordinary share capital of Lamprell (the “Offer”). The offer document was published on 12 August 2022 by Thunderball. It was announced on 26 August 2022 that sufficient acceptances had been received to satisfy the offer acceptance condition and Lamprell subsequently convened an extraordinary general meeting of the Company’s shareholders for 26 September 2022 at which the shareholders voted in favour of cancelling the Company’s listing on the Official List and trading on the London Stock Exchange’s Main Market, and re-registering the Company as Lamprell Limited (the “De-listing”). The De-listing became effective on 25 October 2022 and Lamprell has been now re-named as Lamprell Limited.
Commenting on the transaction, Scott said: “Lamprell is a longstanding and valued client of Cains. We have had the pleasure of working with the Company and its Isle of Man subsidiaries since before its IPO in 2006 and wish the team and the new owners all the very best now that the Company is in private ownership.”
Cains offers considerable expertise through its strength and depth of experience with private and public capital markets and M&A transactions. For more information please contact Scott Leonard-Morgan at cains.com/team/scott-leonard-morgan.