The Capital Markets team of city-based law firm Druces has advised Mustang Energy PLC (“Mustang”) in connection with a placing of 7,500,000 new ordinary shares at a placing price of £0.10 each, and its admission to the Official List (by way of a Standard Listing) and to trading on the London Stock Exchange plc’s Main Market for listed securities.
Mustang was formed to undertake an acquisition of a target company or business or asset(s) with operations in the energy or natural resources sectors. Mustang does not have any specific acquisition under consideration on admission and does not expect to engage in substantive negotiations with any target company or business or asset(s) until after admission. The directors of Mustang intend to focus on the energy or natural resources sectors given their combined experience in these sectors but will not exclude any company with growth potential in any other sector.
Corporate Associate, Jack Kemmish, led the Druces’ team which included Dominic Traynor (Partner) and Daniel Mullin (Paralegal).
Jack Kemmish, Druces’ Corporate Associate, commented: “Our firm has worked closely with Dean, Alan, Peter and Simon and the listing of the company is the culmination of their tireless efforts. We have really enjoyed working with them so closely and look forward to continuing to do so. Admission to the Main Market is the next step in the company’s story. The transaction and the timing was particularly rewarding for us given the changes the Prospectus Regulation has now brought in, and showcases our ability to advise on Main Market transactions as well as AIM, which we are already known for.”
Dean Gallegos, Managing Director of Mustang, commented: “Jack and the team at Druces were integral to the successful listing of Mustang. They made the legal and regulatory aspect of the listing, which can be a complex and difficult process, a straightforward one and we thank them for their diligence. We look forward to using their expertise again as we move into the acquisition phase of Mustang’s development”.
For more information contact:
Tracy Carlin, Head of Business Development.
Tel: 020 7216 5539
Mob: 07548 241054
This news was posted on 29 July 2019