20/02/2024Memery Crystal Promotes Three Real Estate Lawyers
Memery Crystal, the international multidisciplinary London-based law firm, today announces the promotion of three real… Read more
30/11/2018
Memery Crystal have advised South African phosphate development and mining company Kropz simultaneously on its admission to AIM; fundraising of $35m with existing and new UK, South African and international shareholders; and its $40m all-share acquisition of Cominco Resources. Admission to AIM became effective on 30th November 2018, with the company’s market capitalisation being just over £96m.
The funds raised will be used to complete the upgrade and commissioning of the Elandsfontein phosphate project on South Africa’s west coast, reduce debt, and boost its exploration programme in Ghana, where it has the rights to the Aflao prospect.
Funds will also be used to advance the development of the Hinda phosphate project in the Republic of Congo, and upon admission to AIM, Kropz bought 71.3% of Cominco Resources, which through its subsidiary, Cominco SA, owns the Hinda project.
The Memery Crystal team on this transaction was led by our Chief Executive and Senior Corporate Partner Nick Davis, and included Melanie Talbot, George Pendarves, Thomas Grace and Nickhil Mandora from our Corporate team with additional support from Jenni Jenkins and Nikola Lowry-Lee from our Dispute Resolution team, and Mark Rose and Lara Shillito from our Employment team.
Commenting on the deal, Nick Davis said: “We are delighted to have advised Ian Harbottle and his team at Kropz on these simultaneous transactions. We look forward to working with Kropz in the future and watching their progression and growth in the UK capital markets.”
Notes to the editors:
(Image Source: Kropz)
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