Field Fisher Waterhouse advises on biggest AIM flotation of the year
28 March 2011
Field Fisher Waterhouse LLP has advised Trap Oil Group plc
(Trapoil), the independent oil and gas exploration business, on the
biggest AIM flotation of the year so far.
A team led by corporate partner Anthony Brockbank, assisted by partner
George Cotter,
senior associates Brad
Isaac and Mark
Gearing and solicitor Ed Westhead, advised Trapoil on its AIM listing
and successful placing which raised £60 million at a market
capitalisation of just under £80 million. The funds raised will
assist Trapoil, which focuses on exploration in the UK continental
shelf region of the North Sea, in its acquisition programme and
planned future growth. The team worked closely with Strand Hanson
Limited and Mirabaud Securities LLP who acted as nominated adviser
and broker respectively to Trapoil.
Anthony Brockbank said: "This listing is a key step in Trapoil's
growth and development, and as such our client needed the knowledge
and experience of AIM market specialists. Coupled with our
specialist expertise in the oil and gas sector, an area where we
are seeing an increase in AIM activity, we were able to ensure a
successful completion to the largest flotation of the year so
far."
Mark Groves Gidney, CEO of Trapoil, said: "Field Fisher
Waterhouse advised us across a broad spectrum of issues associated
with the flotation. They went beyond advising on legal due
diligence, verification and admission aspects and were of great
help in guiding us on the basic corporate structure, which included
a complicated management incentive scheme, and a broad, flexible
option scheme to incentivise management going forward. Working to a
tight timetable, all of the executives enjoyed working with the
Field Fisher Waterhouse team."
Field Fisher Waterhouse is recognised as a leading AIM adviser
with expertise in the oil and gas sector. In the last six months
the firm has advised KPMG Corporate Finance and Mirabaud Securities
LLP on the flotation of resource company Central Asia Metals plc on
AIM with a valuation of £83 million as well as AIM-quoted oil and
gas exploration company President Petroleum plc on a placing to
raise $50 million.
For further press information, please
contact:
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on +44 (0)20 7861 4120
Amie
Ryalls, PR Executive, Field Fisher Waterhouse LLP on +44 (0)20
7861 4995