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Uranium Resources plc
  • Published:
    20 December
  • Area of Law:

Major capital restructure for global mineral extraction group

International mineral exploration and development group, Uranium Resources plc, has announced its intention to dispose of its existing operations, restructure its share capital and raise further investment to allow it to pursue further acquisition opportunities.

Supported by advisers at Shakespeare Martineau, the deal, restructuring its share capital, involved raising a large investment from a number of parties and the disposal of the company’s overseas assets.

A significant deal for the company, the move to raise further investment forms part of a drive within the business to revisit current trading assets and look for other acquisition targets.

The deal has involved the company transferring its Tanzanian assets to the Company’s major shareholder Estes Capital Limited, in partial settlement of its outstanding loans and capitalising the rest.

The investment comes from a variety of individuals.

Law firm Shakespeare Martineau advised on all legal aspects of the deal. Northland Capital, the company’s nominated adviser, provided corporate finance support and Peterhouse Capital raised a significant portion of the new investment.

Keith Spedding, corporate partner at Shakespeare Martineau, said: “Uranium Resources plc’s transaction forms part of a current trend for smaller companies reviewing their global operations and changing direction if necessary.

“The firm has a long-standing relationship with Uranium Resources and has provided company secretarial support to the business for a number of years. This deal is the latest in of a number of instructions where the firm has been acting for smaller businesses on the public company market. We know how significant this deal is for them and hopefully attracting this new investment will leave the business in a good position for future success.”

Alex Gostevskikh, managing director at Uranium Resources plc, said: “The support that Keith and his team at Shakespeare Martineau have provided throughout the process has been outstanding. Their experience in this area, navigating the compliance and regulatory landscape, has proven invaluable.
“This deal is a milestone in the history of our business and will stand us in good stead to explore further opportunities.”

"They are very professional, respond promptly, always discuss the monthly bill and have, so far, provided us with excellent advice in connection with employment issues. I have been very satisfied."

Andrew Argyle LLB, Practice Director, Potter Clarkson LLP