03 Feb 2010
LG advises Cenkos on fundraisings
International business law firm Lawrence Graham LLP ("LG") has advised nominated adviser and broker Cenkos Securities Plc ("Cenkos") on two fundraisings for Entertainment One Ltd. ("Entertainment") and Optare plc ("Optare") respectively.
Entertainment has raised up to £10.3 million by way of a placing of new ordinary shares and intends to use the proceeds to fund the repurchase of exchangeable notes at a discount in order to deleverage its balance sheet.
Optare has raised £2.2 million by way of a placing of new ordinary shares and intends to use the proceeds to support the working capital required in order to meet its current order book demand and export prospects.
The LG Corporate team advising Cenkos, led by Corporate partner Oliver Riley, included senior associate Farhod Moghadam, junior associate Neeraj Tah and trainee solicitor, Naomi Snider.
Oliver said: "We are very pleased to have advised Cenkos on two fundraisings so early in the year. We hope this marks the beginning of a busy period on the junior market for companies and advisors alike."
Ward Hadaway advised Optare and Mayer Brown International advised Entertainment.