Gateley (Holdings) PLC Acquisition, Issue of Equity & Total Voting Rights
March 02 2020 - 2:00AM
RNS Non-Regulatory
TIDMGTLY
Gateley (Holdings) PLC
02 March 2020
RNS REACH
2 March 2020
GATELEY (HOLDINGS) PLC
("Gateley" or the "Group")
AIM: GTLY
Acquisition of Paul Tweed LLP, Issue of Equity and Total Voting
Rights
Gateley (Holdings) Plc (AIM:GTLY), the legal and professional
services group, is pleased to announce the acquisition of Paul
Tweed LLP (Tweed), a reputation management and media law specialist
with offices in Belfast and a presence in Dublin and London, for a
consideration of GBP2.0m (the "Acquisition").
The Acquisition expands Gateley's legal offering in media law,
reputation management, privacy, commercial litigation and brand
protection and presents cross-selling opportunities into Tweed's
existing and future client base. In addition, the Acquisition
strengthens Gateley's position in the Irish professional services
market providing a platform in Northern Ireland and the Republic of
Ireland from which it can offer broader legal services and allowing
for growth and expansion in Belfast, where the Group's tax and
capital allowances specialists, Gateley Capitus are based, as well
as a number of Construction lawyers.
Background to Tweed
Tweed is a legal business, established in 2017 specialising in
reputation management, privacy and data protection issues,
commercial litigation and brand protection. The team is led by Paul
Tweed, who has over 30 years' experience and is acknowledged
globally as an expert in his field. The firm offers a specialist,
multi-jurisdictional approach for corporates, governments and
individuals.
Tweed provides solutions to cyber harassment, misuse of private
information and privacy breaches. The team is highly skilled in
dealing with both online and offline reputation management (pre and
post publication) to protect individuals, corporates, governments
and brands. It also has extensive experience of complex and high
value commercial litigation.
Acquisition rationale
The acquisition of Tweed is consistent with Gateley's growth
strategy to acquire legal and professional services businesses
which offer complementary specialist services, across Gateley's
five business groups, and, in addition, where geographical location
plays an important role.
The Acquisition provides Gateley with a platform for growth in
Northern Ireland and the Republic of Ireland, adding weight to its
national legal team and enabling the Group to attract talent from a
wider pool at both graduate and qualified levels. Tweed's expertise
strengthens Gateley's Commercial Dispute Resolution and Litigation
teams, who also advise corporates and individuals on a wide range
of commercial and private disputes across the UK.
Terms of the Acquisition
Under the terms of the Acquisition, Gateley will acquire Tweed
for a consideration of GBP2.0m settled 50 percent. in cash and 50
percent. by the issuance of 529,520 ordinary shares of 10 pence
each in the capital of Gateley ("Ordinary Shares") at a price of
GBP1.8885 per Ordinary Share.
Issue of new Ordinary Shares
As part of the consideration, 529,520 Ordinary Shares are to be
issued. Application will be made to the London Stock Exchange for
the 529,520 new Ordinary Shares to be admitted to trading on AIM
("Admission"). It is expected that Admission will take place at
8.00 a.m. on Friday 6 March, 2020.
The new Ordinary Shares will rank pari passu with the existing
Ordinary Shares in issue. Following Admission, Gateley's total
issued share capital will comprise 116,006,530 Ordinary Shares.
This number may be used by shareholders in Gateley as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of Gateley under the FCA's
Disclosure Guidance and Transparency Rules.
Michael Ward, Gateley Chief Executive Officer, said:
"I am delighted to welcome Tweed to Gateley. We have considered
expanding into the Irish market for some time and Tweed strengthens
our presence in the Irish professional services market. We see this
move as a springboard for developing a strong legal services
offering in Ireland as well as supporting our growth plans for
Gateley Capitus, which was our first transaction as a plc in 2016
and is already well established in Belfast. The acquisition is
highly complementary and we have already identified a number of
opportunities for our national teams, particularly in Commercial
Disputes Resolution and Litigation."
Enquiries:
Gateley (Holdings) Plc
Neil Smith, Finance Director Tel: +44 (0) 121 234
0196
Nick Smith, Acquisitions Director and Head Tel +44 (0) 20 7653 1665
of Investor Relations
Cara Zachariou, Head of Corporate Communications Tel +44 (0) 121 234 0074
Mob: +44 (0) 7703 684
946
finnCap - Nominated adviser and broker Tel +44 (0) 20 7220 0575
Matt Goode / James Thompson (Corporate Finance)
Andrew Burdis (ECM)
N+1 Singer - Joint broker Tel +44 (0) 20 7496 3000
Peter Steel (Corporate Finance)
Rachel Hayes (Corporate Broking)
Belvedere Communications Limited - Financial
PR
Cat Valentine Mob: +44 (0) 7715 769
078
Keeley Clarke Mob: +44 (0) 7967 816
525
Llew Angus Mob: +44 (0) 7407 023
147
GateleyPR@belvederepr.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRAPPURAPUPUGBR
(END) Dow Jones Newswires
March 02, 2020 02:00 ET (07:00 GMT)
Gateley (holdings) (LSE:GTLY)
Historical Stock Chart
From Apr 2024 to May 2024
Gateley (holdings) (LSE:GTLY)
Historical Stock Chart
From May 2023 to May 2024