Appleby, one of the world’s largest providers of offshore legal, fiduciary and administration services, has acted as Jersey counsel for Starcom, an Israeli-based technology company, in relation to its flotation on the London Stock Exchange’s AIM market on 27 February 2013.
The proceeds from the offering will be used primarily to clear venture capital debt as well as to build up stock and gives Starcom a market value of approximately £14.5 million on flotation.
The Appleby team was led by James Gaudin, partner and Jersey Practice Head for Structured Finance and assisted by Senior Associate Simon Tait.
K&L Gates advised Starcom on English Law and Gabriel Danon & Co advised the Company on Israeli law.
Commenting on the transaction, James Gaudin said: “Both Appleby and Jersey as an international finance hub, have developed strong ties with Israel particularly in the technology sector, so it is very exciting to be able to help take a progressive company like Starcom to market with a Jersey incorporated holding company.”
About Starcom: Starcom is a technology company specialising in the development of wireless solutions for the remote tracking, monitoring and protection of various types of assets and of people.
Established in 2004, the Group’s products are sold through a global distribution network of more than 110 technology partners and independent dealers in over 50 countries.
Starcom has recently adapted its technology to create two new products; Triton, a tracking system for containers and ships and Watchlock, a padlock with a monitoring system and communications technology.