Insights: David Lee

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FCA publishes welcome guidance on UK cannabis listings – but further clarity is required

Paul Airley, Nigel Gordon, David Robinson, Neil Vickers, David Lee |

On 18 September 2020 the UK Financial Conduct Authority published guidance on the listing of cannabis-based businesses on UK stock exchanges after a lengthy internal review. This move will be welcomed as indicating that the London capital markets are “open for business”, particularly for companies operating in the medical cannabis space. In this article we […]


Shareholder protections and fundraising – pragmatism in a time of uncertainty?

Paul Airley, David Lee |

Shareholders, particularly institutional shareholders and the voting advisory services that support them, have traditionally taken a strict approach to the grant of share authorities and disapplication of pre-emption rights by public companies. This has developed widely accepted levels of both share authority and disapplication of pre-emption rights, which institutional shareholders will accept and vote in […]


English High Court recognises Bitcoin as property

Paul Airley, David Lee, Charles Proctor, David Robinson |

In our article of December 2019 we reviewed the UK Jurisdictional Task Force’s Legal Statement on the Status of Cryptoassets and Smart Contracts, which considered key legal questions about cryptoassets and smart contracts. Whilst traditional legal analysis suggests that cryptoassets would not be recognised as “property”, the Legal Statement sets out compelling reasoning to conclude that cryptoassets could in fact […]


IOSCO weighs in on the regulation of cryptoasset trading platforms

Tim Wright, David Lee |

The Board of the International Organization of Securities Commissions (IOSCO) has published a report[1] identifying what it sees as the key issues and risks associated with cryptoasset trading platforms (CTPs). Running to some 50 pages, the report entitled “Issues, Risks and Regulatory Considerations Relating to Crypto-Asset Trading Platforms” was released on 12 February 2020 following […]


Finally, certainty on cryptoassets and smart contracts under English law?

Paul Airley, David Lee, David Robinson |

The LawTech Delivery Panel’s UK Jurisdiction Task Force’s Legal Statement, released on 18 November 2019, represents the first analysis in a leading commercial jurisdiction of the legal principles underlying cryptoassets and smart contracts, with the intention of providing much-needed confidence, legal certainty and predictability to market participants within the global financial services industry. The Statement […]


Fladgate ranked Band 1 in Chambers UK guide for Corporate M&A: Lower Mid-Market

Julian Lewis, Alex Kaufmann, Graham Spitz, Yulia Leyko, Sunil Sheth, Avram Kelman, Paul Airley, Nigel Gordon, Eugene Matveichuk, Andrew Bessemer Clark, Amy Collins, Jan Hoppe, Marc Sosnow, Charles Wander, Neil Vickers, Sophie Burke, Orit Rioumine Gold, David Lee, Priyadevi Vadgama, Mythily Katsaris, Alex Taylor, Jamie Hamilton, Adrian Mawlabaux, Grant Gordon, David Robinson, Ashleigh Brinklow, David Baverstock, Anthony Shatz, Sam Tye, Eleanor Green, Jeremy Whiteson, Ian Brent |

Fladgate is delighted to maintain a Band 1 ranking in the 2020 Chambers UK guide for the Corporate M&A: Lower Mid-Market category. Grant Gordon, Head of Corporate, said: “The team is delighted once again to receive this recognition by Chambers, which is a significant endorsement of our approach, our professionalism and the strong relationship we […]


Fladgate ranks Tier 1 in Legal 500’s M&A: Deals up to £50m

Paul Airley, Andrew Bessemer Clark, Amy Collins, Nigel Gordon, Jan Hoppe, Alex Kaufmann, Avram Kelman, Julian Lewis, Sunil Sheth, Marc Sosnow, Graham Spitz, Charles Wander, Neil Vickers, Sophie Burke, Yulia Leyko, Orit Rioumine Gold, David Lee, Priyadevi Vadgama, Mythily Katsaris, Alex Taylor, Jamie Hamilton, Adrian Mawlabaux, Grant Gordon, David Robinson, Ashleigh Brinklow, David Baverstock, Anthony Shatz, Sam Tye, Eleanor Green, Jeremy Whiteson, Ian Brent |

Fladgate is delighted to be ranked Tier 1 in the 2019 edition of Legal 500 in the M&A: Deals Up To £50m. Grant Gordon, Head of Corporate, said: “we are very pleased once again to receive this recognition by Legal 500, which is a significant endorsement of our work, our professionalism and the strong relationship […]


Fladgate advises Blockchain Worldwide Plc

Ben Milloy, David Lee, David Robinson |

Fladgate is acting for Blockchain Worldwide Plc (Bloc) on an acquisition by reverse takeover, Rule 9 waiver, £8.6m placing and subscription and admission to trading of the enlarged group (to be renamed Entertainment AI PLC) on the AIM Market (all conditional upon shareholder approval). Bloc, a company admitted to trading on the Main Market of […]


Fladgate advised KCR Residential REIT plc on its placing of shares raising £4.05m

Nigel Gordon, David Lee, Paul Airley, Kim Fowler, Kelly Whiter, Thomas Edwards, Edward Morgan, Caroline Philipps, Ashleigh Brinklow, Richard Reuben, Yasmin Daswani, Tim Reinhard |

Fladgate was pleased to act for KCR Residential REIT plc on the subscription by private equity fund, Torchlight for 9 million ordinary shares for a total subscription of £4.05m and the grant of an option to subscribe for an additional 50 million ordinary shares. KCR intends to consolidate its presence in the UK and to […]


Cryptocurrency estate planning: lessons from QuadrigaCX

Helena Luckhurst, David Lee |

In a plot line worthy of a Dan Brown novel, the 30 year old CEO and founder of QuadrigaCX, Gerald Cotton, was reported as having died in India at the end of last year, seemingly having taken the passwords to the company’s cold storage wallets with him to his grave.


Fladgate advises Argo Blockchain Plc on Main Market listing and £25m placing

Hamilton Forrest, Michelle Waknine, David Lee, Paul Airley, Ben Milloy, Charles Proctor, David Robinson |

Fladgate LLP is pleased to have advised Argo Blockchain Plc (Argo), a provider of crypto-mining services, on its admission to the standard segment of the Official List and to trading on the London Stock Exchange’s Main Market. Argo raised £25m under a placing concurrent with admission and had a market capitalisation on admission of approximately […]


Fladgate advises TransGlobe Energy Corporation on its introduction to AIM

Nigel Gordon, David Lee, Paul Airley, Orit Rioumine Gold |

Fladgate advised TSX and NASDAQ listed TransGlobe Energy Corporation, an independent international oil and gas company with exploration and production operations in Egypt and Canada, on its introduction to AIM.  The company’s full year average production guidance for 2018 is between 14,200 and 15,600 barrels of oil per day. TransGlobe will be the first AIM […]