Firms: Allion Legal (Australian legal advisor to Sumatra Copper & Gold); Baker & McKenzie (International offering restrictions advisor); Simmons & Simmons (UK legal advisor to Sumatra Copper & Gold)

Deal: Sumatra Copper & Gold’s $20 million non-renounceable entitlement offer

Area: Equity capital markets

Value: $20 million

Key players: Principal Phil Lucas (pictured) led the Allion Legal team, with support from senior associate Michael Jools and solicitor Pasan Wijesuriya

Deal significance: The purpose of the capital raising was to raise funds for general working capital and the development of the company’s Tembang Project in Sumatra, Indonesia.

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The deal, which was underwritten by Patersons Securities Limited, involved an entitlement offer in respect of CHESS Depositary Instruments representing ordinary shares in a UK publicly-listed company and was effected by a s708AA Offer Document and Cleansing Statement. 

The head of the Allion Legal team, Phil Lucas, said: “We are delighted to have been able to act for Sumatra Copper & Gold plc in the context of this significant equity capital raising in respect of CDIs in challenging market conditions.”