25th November 2016

Thrings advises on management buy-out of Toledo Mining Corporation

Our involvement

During the transaction, we advised Toledo on a complex share capital re-organisation, which involved a share consolidation, a reduction of capital and the payment of a dividend. This was followed by the sale of Toledo to a member of the old management team.

As the transaction proceeded, we continued to act for the new owners of Toledo on delisting the company from AIM. We also supported them in the sweep-up of minority shareholders and the disposal of part of Toledo's business.

The outcome

We successfully supported the previous owners of Toledo through the sale, and the new owners in taking control with minimum disruption to the business.

We were pleased to have been retained by the bidder and the target since the transaction. This deal further enhanced our growing expertise of advising clients in the AIM and mining sector. It also enabled us to further develop our experience of acting for groups with interests in the Philippines.

For further commentary on this case, or to discuss any corporate-related issue, please contact a member of Thrings' Corporate team.

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