Fladgate LLP has advised Angus Energy plc on its admission to AIM and £3.5m placing. The market capitalisation of Angus Energy on admission was approximately £12.9m.
Angus Energy is an independent UK onshore oil and gas development, production and operations company and OGA-approved operator. The placing proceeds will principally be used to fund the group’s share of the costs of phased development programmes on two onshore oil fields in the Weald Basin in southern England, in which the group holds majority interests.
Corporate partner Paul Airley led the Fladgate team, assisted by Victoria Miller and Michael Beaber.
Commenting on the listing, Paul said: “We are delighted to have assisted the directors of Angus Energy in achieving a successful listing and financing, and we look forward to advising the company on its development as a significant UK onshore production company.”
Fladgate has a specialist energy and resources team which brings together lawyers with experience in energy, oil and gas, mining and renewables, both in the UK and overseas, across a range of legal disciplines, including corporate finance, commercial contracts, mergers and acquisitions, construction and engineering contracts, projects and disputes.