Addleshaw Goddard

UK 200 2013 position: 23

Categories:Corporate,Funds

Addleshaw Goddard advises 2ergo on £3.1m placing of shares

Addleshaw Goddard’s corporate finance team in Manchester has advised 2ergo Group plc, an international mobile solutions company, on its £3.1m placing of shares. The deal will also see major changes to 2ergo’s board of directors.

The placing, to new and existing shareholders, is of 310 million new ordinary shares at a price of 1p per share. The net proceeds of the placing are expected to be approximately £2.9m and will provide additional working capital and the resources required to implement a revised strategy, with a view to improving the performance of the business and generating increased value for shareholders.

The Addleshaw Goddard team was led by corporate partner Roger Hart, and included Duncan Wilson, Chris Hardman, Michael Carter, Kate McGough and Dilpa Raichura.

 

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Analysis from The Lawyer

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    Number crunching: Addleshaw Goddard

    The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.

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Overview

Milton Gate
60 Chiswell Street
London
EC1Y 4AG
UK
http://www.addleshawgoddard.com

Turnover (£m): 166.50
No. of Lawyers: 592

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