Field Fisher Waterhouse advises Australian company Plantic on admission to AIM
23 May 2007
Field Fisher Waterhouse LLP has acted for Plantic Technologies
Limited (Plantic) on its recent £20 million fundraising and
admission to trading on AIM with a market capitalisation of £51
million.
Plantic, which is based in Australia, has commercialised a
biodegradable materials technology for initial application in the
plastics and packaging industries. Plantic’s products have
been developed as a substitute for certain synthetic plastics and
are sourced from renewable resources that have not been genetically
modified, such as corn starch.
Plantic’s first commercial product has been sold as a finished
product to food and confectionary companies such as Cadbury
Schweppes Limited and Nestle UK Limited.
Plantic will be using the proceeds of the fundraising to fund
further commercialisation of its products and further research and
development together with the expansion of its sales and marketing
presence in geographic regions in which it does not currently
operate.
The team at Field Fisher Waterhouse was led by corporate partner
Anthony
Brockbank, assisted by corporate solicitors Brad Isaac and Tom
Martin. This latest deal follows the firm winning the AIM lawyer of
the year award at the Growth Company Awards 2007. Other recent
listings the firm has advised on include those for bglobal plc, Sun
TV Shop, Ceramic Fuel Cells Limited, and Myhome International
plc.
Libertas Capital acted as the nominated adviser and broker.
Jones Day advised Libertas Capital.
For further press information please contact:
Louise Eckersley, PR Executive on +44 (0)20 7861 4120
Scarlett Yianni, PR Assistant on +44 (0)20 7861 4795