Harneys advises Heather Venture Holdings Ltd. and Tapir Holdings Ltd. on their listing on Bermuda Stock Exchange

The successful admission of Heather Venture Holdings Ltd. and Tapir Holdings Ltd. involved the listing of their respective shares on the Mezzanine Market of the BSX with effect from 11 March 2024.

Both companies received approval from the BSX for the listing of 44,502,264 ordinary shares respectively.

The listings have been made as part of a wider transaction, which involved the declaration of a dividend in specie  by Impellam Group Plc, with such dividend in specie  being the shares.

The wider transaction involves the acquisition by Heather Global Plc of the entire issued, and to be issued, ordinary share capital of Impellam Group Plc. The acquisition is being effected by means of a scheme of arrangement under English law.

The Harneys team comprised Partner Rachel Graham and Counsel Thomas Dugdale. Rachel commented: “Fantastic to be involved in the BVI aspects of this complex cross-border M&A transaction and to work closely from our London office with the Impellam team.”

The Corporate team at Harneys has a leading Equity Capital Markets practice with substantial experience in all aspects of capital raising by offshore companies, including IPOs and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, SPACs, and business combinations, as well as private placements, take-privates, takeovers and spin-offs. The firm’s ECM expertise lies in advising entities listed or listing on all major stock exchanges, including the New York Stock Exchange, NASDAQ, the London Stock Exchange, AIM, the Bermuda Stock Exchange, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, and the Luxembourg Stock Exchange.