Burges Salmon advises WH Ireland on Pennant and Digitalbox transactions

The firm’s Corporate team advised WH Ireland in connection with a secondary placing and a reverse takeover.

13 February 2019

Corporate partner Dominic Davis led the Burges Salmon team advising WH Ireland on both deals, which involved Pennant International Group plc’s fundraise of £1.8 million and Polemos plc’s acquisitions of Digitalbox Publishing and Mashed Productions.

The first transaction involved a £1.8 million share placing for Pennant International Group plc by way of an accelerated bookbuild to assist in funding its strategic acquisition of Aviation Skills Holdings Ltd and further product development. Pennant is the AIM quoted supplier of integrated training and support solutions, products and services which train and assist operators and maintainers in the defence and regulated civilian sectors.

The second was for Polemos plc which has agreed to acquire Digitalbox Publishing (Holdings) Ltd which produces online entertainment news and Mashed Productions, the company behind the satirical news website The Daily Mash. The enlarged Digitalbox business is planning to float on AIM later this month via the reverse takeover of the quoted cash shell Polemos plc which will be renamed as Digitalbox plc.

Dominic was supported by Corporate senior associate Peter Dunn on both deals.

Dominic says: “We are delighted to have advised our long-standing client WH Ireland on these two deals, which are key for the two companies involved.”

Mike Coe, WH Ireland Director who led on the two transactions, says: “It was a pleasure to work with the Burges Salmon team who once again delivered timely and sound commercial advice on these deals.”

Key contact

Dominic Davis

Dominic Davis Partner

  • Corporate
  • Mergers and Acquisitions
  • Joint Ventures

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