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17 September 2020

BDB Pitmans advising Harwood Capital LLP on its recommended cash offer for HML Holdings plc

BDB Pitmans is advising Harwood Capital LLP (Harwood) and BDB Nominee Company Limited (BDB Nominee) in connection with BDB Nominee’s recommended cash offer for AIM listed HML Holdings plc (HML). BDB Nominee is a company formed at the direction of Harwood for the purposes of making the offer.

The offer of 37.5 pence per share values the entire issued and to be issued share capital of HML at approximately £18.85 million on a fully diluted basis. The transaction is to be effected by means of a contractual takeover offer.

HML is a leading provider of property management, insurance and ancillary services to residential property blocks. HML has a varied portfolio of developments with over 50 years’ experience and over 20 offices around the UK.

Harwood is a long standing client of BDB Pitmans’ and its principal activity is the provision of discretionary investment management services. It is authorised and regulated by the Financial Conduct Authority and is part of the Harwood Capital Management Group that, as at 30 June 2020, had approximately £1.7 billion of funds under management.

The BDB Pitmans team acting on this transaction is being led by corporate partners Nick McCarthy and Tessa Trevelyan Thomas, assisted by senior associates Rebecca Arnheim and Mireille Turner.

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