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Easter pair for Nabarro ECM team

21 April 2011

Nabarro advises on £62 million fundraisings in the week before Easter

Nabarro LLP is advising on two placings to raise £62 million for AIM-listed companies Falkland Oil and Gas Limited and Eredene Capital PLC.

Falkland Oil and Gas
Nabarro's ECM team is advising existing client Oriel Securities on a £32 million placing to raise additional capital for AIM-listed Falkland Oil and Gas, an oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands. The net proceeds of the fundraising will be used to provide additional drilling options for the company's planned 2012 programme.

The Nabarro team advising Oriel is being led by corporate partner Warren Taylor and includes corporate associate Vicky Clarke.

Eredene Capital
Nabarro's ECM team is also advising existing client Numis Securities on a £30 million placing to raise additional capital for AIM-listed Eredene Capital, which invests in Indian ports, logistics and transport infrastructure. The majority of the proceeds will be used to fund Eredene Capital's commitment to the development of Ennore Container Terminal and potential new investment projects.

The Nabarro team advising Numis and Arden is being led by corporate partner Alasdair Steele and includes senior corporate associate Ben Macdonald and corporate associate Rebecca Tweddle.

Commenting on the transaction, corporate partner Alasdair Steele said:

"These two fundraisings demonstrate that despite difficulties in the market there is still investor appetite for the right deals. They not only play to the strengths of our recognised equity capital markets practice but also our sector strength in resources and geographic strength in India-focussed transactions."


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