Walker Morris advises on second AIM transaction in the communications sector in a month

Telecommunications Print news article

12/05/2015

Cleeve Capital plc acquires Satellite Solutions Worldwide Limited and is admitted to AIM

Walker Morris has advised on Cleeve Capital plc’s delisting from the Standard Segment of the Official List, acquisition of Satellite Solutions Worldwide Limited and its admission to AIM.

The deal is the second AIM transaction involving a communications company that the Walker Morris Corporate Team has advised on in a month, having advised on the placing by Mobile Tornado plc in April.

Richard Naish from Walker Morris’ Corporate Team provided advice to Cleeve Capital’s nominated adviser, Strand Hanson.

Cleeve Capital has issued 50 million new ordinary shares at a price of 4.5p per share to raise £2.25 million.

Satellite Solutions is a global communications company offering high-speed satellite broadband solutions.  It specialises in rural, last-mile and emergency communications via satellite, particularly where traditional broadband providers are unable to supply.

Richard Naish, corporate partner at Walker Morris said:

“This latest share placing reinforces our strong track record in equity capital markets work, with the pipeline looking strong as well.  We have advised on a large number of equity capital markets and public company transactions in the last six months which is testament to the Firm’s continued investment in specialist expertise.”

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