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Eversheds advises NewRiver on its transfer from AIM to Premium Listing segment of the Official List

  • Global
  • United Kingdom

    19-08-2016

    Eversheds has advised NewRiver REIT plc on the admission of its shares to the premium listing segment of the Official List of the UK Listing Authority and the simultaneous cancellation of the shares of NewRiver Retail Limited on AIM. Admission of NewRiver REIT’s shares to trading on the London Stock Exchange’s Main Market took effect on 18 August at 8.00am.

    The admission follows the approval of a scheme to change its corporate structure so that NewRiver REIT plc became the new parent company of the NewRiver Group. The Scheme became effective on 18 August and accordingly shareholders in NewRiver received one NewRiver REIT plc share for each share held in NewRiver Retail Limited on AIM.

    The Eversheds team was led by corporate partner Aleen Gulvanessian and legal director Mark Roe.

    Aleen Gulvanessian said:

    “Having floated NewRiver on AIM in 2009 and conducted numerous fundraisings for the Company, bringing its market capitalisation to over £750m, I am delighted to have helped NewRiver transfer to the Main Market. “

    Mark Davies, Finance Director of NewRiver, said:

    “Our advancement from AIM to Main Market is significant and illustrates the phenomenal journey we have made as a company. Eversheds has been our corporate legal adviser throughout that journey and has been invaluable to our progress. We look forward to continuing our work with them.”

     

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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