FTSE-listed AEA Technology Group plc, an environment and climate change consulting firm, was advised by Mourant Ozannes on its recent corporate restructuring and incorporation in Jersey.
The transaction involved a scheme of arrangement which resulted in AEA Technology Group plc being introduced as the new Jersey holding company of the AEA group. AEA Technology Group completed an equity capital raising and the reverse takeover of Eastern Research Group upon completion of the scheme.
Immediately following these transactions, AEA Technology Group also carried out a reduction of its share premium account to create a reserve of profit available for distribution to shareholders.
Mourant Ozannes LP partner Michael Williams and associate Paul Martin advised AEA group and worked closely with lead counsel Linklaters LLP, a magic circle law firm.
Michael Williams commented: "This was an interesting corporate restructuring involving a scheme of arrangement, reverse takeover, equity capital raising and capital reduction. Unlike other similar corporate restructurings carried out in recent years, the AEA group parent company will remain tax resident in the UK. It is pleasing to see that Jersey continues to attract corporate restructurings of the calibre of this one. This is, no doubt, due to the benefits of Jersey's flexible corporate law regime and tax neutrality as well as Jersey's standing as a principal international finance centre."
AEA Technology Group plc is listed on the Main Market of the London Stock Exchange and is included in the FTSE Fledgling and techMark All-Share indices. ENDS.