Burges Salmon has advised WH Ireland Limited in its capacity as broker, and GCA Altium Limited in its capacity as nominated adviser, to Redhall Group plc, an AIM quoted company, on its placing to raise approximately £9.5 million. Redhall Group is the West Yorkshire based manufacturer of high integrity products and equipment for the nuclear, oil and gas and infrastructure sectors.
The placing is on a non pre-emptive basis to existing and new institutional investors. The transaction is conditional on shareholder approval at a general meeting to be held on 30 June. Admission is expected to occur on 5 July.
Adrian Hadden, Managing Director, Corporate Advisory & Broking at WH Ireland commented: “Burges Salmon were accurate, precise, attentive and considered in their advice and we were very pleased to have their support in this very successful fundraising.”
Burges Salmon corporate partner Dominic Davis and senior associate Mark Cook advised WH Ireland and GCA Altium on the fundraising.
Dominic Davis says: “We are delighted to have advised GCA Altium for the first time as well as our long-standing client WH Ireland on this deal. This is a significant fundraising for Redhall Group, which will help it to capitalise on the opportunities available to it as Redhall Group implements its growth strategy.”