Field Fisher Waterhouse advises on loan facility for AIM listed company
30 March 2009
Field Fisher Waterhouse LLP advised EMED Mining Public Limited
(EMED) on a convertible secured loan facility of up to US$ 8.5
million and the amendment of its arrangements with existing lenders
and shareholders.
EMED is a Cyprus based, AIM listed copper and gold exploration
company. It has entered into a conditional loan agreement with
Resource Capital Fund IV L.P. (RCF) and RMB Australia Holdings
Limited (RMB). Funds drawn down under the facility will be
used for general working capital purposes and will be
targeted primarily at EMED’s Detva Gold project in Slovakia and the
Rio Tinto Mine in Spain.
Corporate partner Dominic Gurney-Champion led on the deal, having
previously advised on EMED’s flotation on AIM in 2005 and on its
acquisition of the remaining 49% of the Rio Tinto Mine in October
2008. He was assisted by partner Ronit Grant and solicitors Brad
Isaac, Tom Martin and Alexandra Mayson.
Field Fisher Waterhouse LLP, which has a leading reputation in
the AIM market, has over 50 AIM clients.
Dominic Gurney-Champion said: “We are delighted to have aided
EMED on obtaining this loan facility. The deal reflects the fact
that, despite market conditions, there is still activity going on
in the AIM market, especially in relation to secondary
fundraisings. This is the third fundraising we have worked on for
EMED since its flotation on AIM. It reflects a trend we are
seeing on AIM currently of investors preferring to fund companies
through convertible debt arrangements, as this potentially gives
them better protection than a straight equity
investment.”
Other law firms acting for EMED were Baker & McKenzie in
Spain, Cechova & Partners in Slovakia and Dr K Chrysostomides
& Co Law Office in Cyprus.
Law firms acting for other parties to the transaction included
Watson, Farley & Williams in London, Davis Graham & Stubbs
LLP in the US, Freehills in Australia, Uria Menendez and Leon &
Orlate in Spain and Cernejova & Hrbek in Slovakia.
For further press information please
contact:
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on +44 (0)20 7861 4120.