Skip to main content
Home / News and Insights / News / BDB Pitmans advises Contango Holdings PLC on a £6.8 million acquisition by way of reverse takeover, gross placing of £1.4 million and simultaneous readmission to the main market of the London Stock Exchange
23 June 2020

BDB Pitmans advises Contango Holdings PLC on a £6.8 million acquisition by way of reverse takeover, gross placing of £1.4 million and simultaneous readmission to the main market of the London Stock Exchange

The BDB Pitmans corporate team was instructed by Contango Holdings PLC (Contango) on the £6.8 million acquisition, by way of reverse takeover, of a 70% interest in Monaf Investments (Private) Limited (Monaf), which holds a mining asset in Zimbabwe. The team also advised Contango in relation to a placing which raised gross proceeds of £1.4 million and on Thursday 18 June 2020, Contango announced the successful completion of the acquisition and readmission to trading on the Standard Segment of the Main Market.

Contango was formed to acquire a controlling interest in a company or business in the natural resources sector and was admitted to the Standard Segment on 1 November 2017. On 22 December 2017, Contango announced it had signed a Memorandum of Understanding with Consolidated Growth Holdings Limited (CGH) with regard to the potential acquisition of CGH’s entire interest in Monaf and was subsequently suspended from trading. The objective of the company and funds raised will now be used to prepare the site for mining operations and production.

The BDB Pitmans team was led by corporate partner Nick McCarthy.

Related Articles

Our Offices

London
One Bartholomew Close
London
EC1A 7BL

Cambridge
50/60 Station Road
Cambridge
CB1 2JH

Reading
The Anchorage, 34 Bridge Street
Reading RG1 2LU

Southampton
Grosvenor House, Grosvenor Square
Southampton SO15 2BE

 

Reading
The Anchorage, 34 Bridge Street
Reading RG1 2LU

Southampton
Grosvenor House, Grosvenor Square
Southampton SO15 2BE

  • Pay my invoice
  • Lexcel
  • CYBER ESSENTIALS PLUS

© BDB Pitmans 2020. One Bartholomew Close, London EC1A 7BL - T +44 (0)345 222 9222