Fladgate advises Associated British Engineering plc on underwritten open offer, reorganisation and capital reduction

Our team: David Robinson

Fladgate LLP has advised Associated British Engineering plc, an industrial engineering company listed on the Main Market of the London Stock Exchange (LSE), on an underwritten open offer, reorganisation and capital reduction. Beaumont Cornish Limited acted as the company’s sponsor.

The proceeds of the open offer were applied to the cancellation of 8% Preference Shares. The court-approved capital reduction resulted in the cancellation of 7% Preference Shares in consideration of the issue of new ordinary shares and loan notes.

Fladgate corporate partner David Robinson advised the company.

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