Bishop & Sewell has advised Spinnaker Opportunities, a new cash shell, on its admission to the Standard List of the London Stock Exchange and its Placing and Subscription of over 26 million shares. Admission and Dealings occurred at 5 pence per share on Wednesday 17th May.
Spinnaker Opportunities is the latest venture of veteran small-cap trouble-shooter turned entrepreneur, Andy Morrison, who is chairman and a leading investor in the business. Spinnaker, which has a highly experienced board and advisory team, is now seeking a reverse takeover and is currently assessing opportunities in the oil and gas sector, mid-stream and down-stream energy and cleantech.
The transaction was handled on behalf of Bishop & Sewell by David Little, Andrew Kavanagh and Gurkirit Gill, in our Corporate & Commercial team.
David Little, Partner at Bishop & Sewell, added:
“It has been a real pleasure to help Spinnaker on this significant step and to see the company complete a successful offering at a time of relative uncertainty in equity markets generally.”