Listed M&A

January 2, 2019

Jeremy Blimbaum advises Ross Group Plc, a British company listed on the Premium Listing of the Main Board of the LSE, on the acquisition of Archipelago Aquaculture Group Ltd.

Archipelago Aquaculture Group has achieved proof of concept in its specialized extraction of Chitin, which is understood to be one of the most environmentally-friendly and economically effective extraction processes within its industry. 

Chitin is a natural bio-degradable polymer involved in the plastics, agricultural, veterinary, textile, cosmetic and pharmaceutical industries.

The consideration for the Acquisition is 17,947,943 Ordinary Shares at a placing price of 1p per share to the current AAG shareholders representing 10% of RGP's existing issued share capital. Also, as an additional consideration for the Acquisition, RGP will issue 26,667,262 Ordinary Shares representing 9.9% of RGP's existing enlarged issued share capital, at a price of 1p per share to the current AAG shareholders.

Jeremy Blimbaum, Partner in charge of the corporate finance and securities law practices, advises Ross Group Plc throughout this acquisition.