Law Firm News

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Law Firm News

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Ashurst LLP

Ashurst advises SOCO International plc on US$250 million bond issue
Ashurst is advising SOCO International plc in relation to the issue of 4.5 per cent convertible bonds in a principal amount of US$250 million. The bonds are due in 2013 and are issued by a Jersey subsidiary of SOCO International, with SOCO International guaranteeing the Bonds. Merrill Lynch and Bridgewell are acting as managers.

The Ashurst team comprises international finance partner Anna Delgado assisted by trainee solicitor Kelly Lee, corporate partners Michael Johns and Nick Bryans, infrastructure partner Jan Sanders, corporate solicitor Justin Atkinson, and tax solicitor Paul Miller.

Linklaters are acting for the managers and the The Bank of New York, as trustee.

05-15-2006

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Ashurst LLP

Ashurst advised Imperial Energy Corporation plc on a £109 million placing
Ashurst advised Imperial Energy Corporation plc (IEC) on the placing of 10.6 million new shares with a total value of approximately £109 million before expenses, based on a placing price of £10.30 per share. Hoare Govett acted as underwriter.

The placing will help fund the development of IEC's oil exploration and production operations in the Commonwealth of Independent States. The AIM-listed company originally floated at 25 pence per share in April 2004.

The Ashurst team was led by corporate partner Michael Robins, assisted by corporate solicitors Mark Withey and Dafydd Leighton.

05-15-2006

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Ashurst LLP

Ashurst advised Hawkpoint Partners and Collins Stewart in relation to Acertec's £76 million IPO
Ashurst advised Hawkpoint Partners Limited, in its capacity as nominated adviser, and Collins Stewart Limited, in its capacity as broker and underwriter, in relation to Acertec plc's IPO on AIM.

Admission of shares is expected to take place on 16 May 2006 and Acertec's market capitalisation will be £76 million, based on a placing price of 148 pence per share.

Acertec is a leading UK provider of engineered steel products to the automotive and construction industries.

The Ashurst team was led by corporate partner Philip Broke and comprised corporate solicitors Kate Edey and Alex Lewis, real estate solicitors Ian Colquhoun and Peter Behrens, employee benefits and incentives partner Paul Randall, as well as tax solicitor Simon Swann.

Travers Smith (Neal Watson) advised Acertec plc.

05-15-2006

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Ashurst LLP

Ashurst advised Gujarat State Petroleum Company on sale of its stake in an Indian oil field
Ashurst advised Gujarat State Petroleum Company (GSPC) in relation to its divestiture of a stake in the KG Basin field in India.

The Ashurst energy, transport and infrastructure team was led by partner Jeremy B. Sheldon and comprised partner Louise Ecclestone and solicitors Chris Flynn, Hannah Croft, and trainee Alistair Black.

UBS acted as financial adviser to GSPC and Amarchand gave advice on Indian legal issues.

05-15-2006

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Ashurst LLP

Ashurst advised African Copper PLC on a £58 million placing
Ashurst advised African Copper PLC in relation to a placing in both the UK, Canada and the US to raise approximately £58 million in order to fund development of mineral projects in Botswana.

The placing was underwritten by Numis Securities Limited, Dundee Securities Corporation, Raymond James Ltd, Paradigm Capital Inc and BMO Nesbitt Burns Inc.

The Ashurst team comprised corporate partner Michael Robins, corporate solicitor Kate Edey and tax solicitor Tom Cartwright.

Macleod Dixon and Skadden, Arps, Slate, Meagher & Flom advised African Copper PLC on Canadian and US legal aspects respectively.

05-15-2006

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Ashurst LLP

Ashurst advised Arden Partners Limited on the flotation of silverjet plc
Ashurst advised Arden Partners Limited, in its capacity as nominated adviser, broker and underwriter to the AIM flotation of silverjet plc. The flotation raised £25.3 million and the market capitalisation of silverjet following its placing is £33.6 million.

silverjet is a newly formed company which aims to offer a low-fare, business class airline service which will operate on long haul routes. It will initially carry passengers between London and New York.

The Ashurst corporate team comprised partner Anthony Clare and solicitor Simon Baskerville.
Morrison & Foerster MNP (James Gubbins) acted for silverjet plc.

05-15-2006

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Ashurst LLP

Ashurst is advising Ark Therapeutics Group on a £27.1 million placing
Ashurst is advising Ark Therapeutics Group plc on its placing and open offer of 31,874,574 new ordinary shares at 85 pence per share, raising a total of £27.1 million. Piper Jaffray and Credit Suisse are acting as underwriters.

The placing will help develop Ark Therapeutics' existing clinical and pre-clinical programmes.
The Ashurst team comprises corporate partner Anthony Clare and solicitor Catherine Passmore.
Travers Smith (Neal Watson) are acting for the underwriters.

05-15-2006

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