Walker Morris advises on Pinewood’s proposed placing to raise £30 millionPrint news article
Specialist lawyers at Walker Morris have advised the Nominated Adviser and broker, N+1 Singer, in relation to Pinewood Group plc’s proposed share placing to raise £30 million.
Pinewood Group, a leading provider of services to the global film and television industry, is proposing to place 8,000,000 New Ordinary Shares at a price of 375 pence per share.
The Net Proceeds of approximately £28.7 million are intended to be used to part fund the first phase of development of the Pinewood Studios Development Framework (“PSDF”) in combination with the New Debt Facilities. The PSDF is intended to address the Group’s capacity constraints by ultimately doubling the existing capacity of Pinewood Studios through the addition of a total of approximately 100,000m2 of new facilities, comprising stages, workshops and production offices.
Richard Lindley, Shaun Dobson, James White and Richard Salmond from N+1 Singer provided financial advice to Pinewood. Travers Smith LLP were legal advisers to Pinewood.