Field Fisher Waterhouse LLP has advised financial adviser, nominated adviser and joint broker, Westhouse Securities Limited on a fundraising to raise up to £10 million.
The team was led by corporate partner, Amerjit Kaliraiand assisted by solicitor, Rashed Hasan. The fundraising involved the placing, subscription and open offer of unsecured convertible loan notes by Private & Commercial Finance Group plc (PCFG) to raise up to £10 million. In addition to the placing and subscription, PCFG also made an open offer to all shareholders and holders of its existing convertible loan notes to raise approximately £4.1 million, which was underwritten by BCB. As a result of the potential equity interest of BCB and its concert parties in PCFG, the transaction required a Takeover Code "whitewash" procedure.