The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Manchester-based Fox Brooks Marshall has advised Highland Gold on its £200m admission to AIM, which is the second-largest placing on the market to date
Highland, the owner of Russia's fourth-largest gold mine, is expected to raise up to £25m to expand its existing mine and bring its next four deposits on stream by 2004. It will take the estimated value of Highland to £200m.
The Jersey-registered company boasts Lord Daresbury as its executive chairman and South African mining giant Harmony Gold Mining as one of its major shareholders. Christopher Palmer-Tomkinson, the uncle of Tara Palmer-Tomkinson, will join Ted Grobicki of Harmony on Highland's board as a non-executive director.
This is the latest in a series of deals undertaken by Fox Brooks in the mining sector, with a particular focus on Australia. Of 10 Australian mining companies listed on AIM, Fox Brooks acted for five, with a further three potential admissions planned for 2003.
During December, the firm advised Gold Mines of Sardinia on a change of domicile, from Australia to the UK. The holding company was subsequently admitted to AIM with a market capitalisation of £13m. Earlier in 2002 it advised Santa Barbara Mines on its £20m AIM listing.
Fox Brooks senior partner Andrew Wright said: "It's very difficult for small companies in Australia to raise money there. AIM is obviously one way to raise capital. It's also attractive for a number of other reasons - it's active and relatively liquid, it has a high profile and has tax advantages. But perhaps the most important reason is that it offers a stepping stone into Europe. London is still the place to raise capital, and to be considered a serious player it's important to have a presence there."
Wright has also recently returned from New Zealand, where he was lecturing on the benefits of AIM on a trip organised by the London Stock Exchange (LSE). It was the latest in a series of similar trips to Australia and New Zealand for Wright, organised as part of the LSE's push to attract more foreign companies to the London market.