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Memery Crystal advises on £40m placing on behalf of Marlowe

30/06/2020

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Memery Crystal is delighted to announce that it has advised Cenkos Securities and Berenberg (as lead bookrunners), and Stifel Europe (as bookrunner) in respect of a placing on behalf of Marlowe plc to raise £40m in connection with its acquisition of Elogbooks Facilities Management Limited and Elogbooks Facilities Services Limited.

Marlowe plc, the AIM listed, UK leader in specialist services which assure the safety and regulatory compliance of commercial properties, whilst managing risk for businesses across the country, has raised gross proceeds of £40m through the placing of 8,368,200 ordinary shares at a price of 478p, with new and existing investors. A portion of the net proceeds of the placing are to be used by the company to acquire, inter alia, Elogbooks Facilities Management Limited and Elogbooks Facilities Services Limited, the developers of a software tool allowing users to schedule and monitor compliance and maintenance activities.

The Memery Crystal team was led by Corporate Director, Mark O’Donnell, who was assisted by Senior Associate Robert Black. Our work follows previously advising Cenkos and Berenberg on behalf of Marlowe plc to raise £20m in connection with its acquisition of Clearwater Group Limited.

Mark O’Donnell said: “We are very pleased to have again advised both Cenkos and Berenberg on this significant raise for Marlowe plc and it was great to also work with the team at Stifel. This demonstrates our expertise and ability to deliver top-level advice in the London markets and further builds upon our record in acting broker-side in secondary fundraisings. It has been a pleasure to work with Cenkos, Berenberg, and Stifel with whom we look forward to continuing our relationship.

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