LG advises on launch of dedicated precious metals fund on AIM
19 DECEMBER 2006
LG has advised Golden Prospect Precious Metals Limited ("GPPM"), a new Guernsey registered closed-ended investment company, on it's placing of shares and warrants and its admission to AIM.
GPPM is a dedicated precious metals fund which will focus on equity investments in the gold, silver, platinum, palladium and diamond sectors. It can also diversify up to 20 per cent of its gross assets in other key commodities, such as uranium. GGPM will be capitalised at approximately £12.9 million.
Corporate partner Jeffrey Elway led the LG team assisted by solicitor Gillian McCarthy and trainee Selina Conboy.
Jeffrey said: "We are pleased to have been involved with the listing of AIM's first dedicated precious metals fund and look forward to working with the GPPM in the future."
GPPM will be managed by Ambrian Asset Management Limited, a subsidiary of Ambrian Capital plc (formerly Golden Prospect plc). In support of GPPM, Ambrian Capital transferred in approximately £9.4 million of its existing precious metals equity investment portfolio in return for the equivalent investments of shares and warrants GPPM.
Collins Stewart Europe Limited and Ambrian Partners Limited acted as joint brokers to GPPM. Carey Olsen advised the company on Guernsey law.
Notes to editors
- LG is a London-based business law firm with over 270 lawyers. It has advised on over 200 AIM transactions, helping clients to raise over £2 billion in new funds.
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Jeffrey Elway
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