Fladgate advises Associated British Engineering on a US $500,000 investment

Our team: David Robinson

Fladgate LLP has advised British Polar Engines Limited (BPE), a wholly owned subsidiary of Associated British Engineering PLC (ABE) on a US$500,000 investment in a newly formed company, Akoris Trading Limited (Akoris), by way of a subscription for 500 A shares which will represent 50% of the equity and carry 100% of the voting rights. ABE is an industrial engineering company listed on the Main Market of the London Stock Exchange (LSE).

In addition, BPE will make a commercial loan facility of £200,000, secured by way of a fixed and floating charge on the assets of Akoris for working capital purposes.

The business of Akoris will be commodity and natural resource trading, finance and investment.

Corporate partner David Robinson led the Fladgate team.

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