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Fasken Martineau Stringer Saul ends 2007 with 2 further AIM Admissions

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January 14, 2008


Corporate teams from Fasken Martineau Stringer Saul headed by partner, Nigel Gordon, have assisted two new clients to be admitted to AIM raising £7 million between them as 2007 drew to a close. One of the clients also made an £19 million acquisition.

Investing company, Evolve Capital plc, which will invest in PLUS market companies in the financial services, leisure operations, health care and natural resources sectors, raised £4 million on admission.

In the second admission, Fasken Martineau Stringer Saul assisted Oxford Advanced Surfaces Group plc (OASG) (formerly called Kanyon plc) to acquire Oxford Advanced Surfaces Limited, which constituted a reverse takeover, and to raise £3 million in cash. The acquisition was on a share for share basis for a consideration worth £19 million. Following completion of this transaction, OASG had a market capitalisation of £44.5 million. OASG's strategy is to become an advanced materials and technology solutions company targeting three priority markets – electronics, industrial specialities and life sciences/healthcare markets.

Commenting on the transactions, Nigel Gordon said: "In the last quarter of 2007 we helped six other organisations to list on AIM or raise money on AIM. These latest deals continue to demonstrate the firm's strength in this area and we wish both Evolve and OASG a successful future. These transactions show that, despite some gloomy forecasts about AIM, companies with experienced management and a good business will continue to be able to raise money on AIM. We look forward to working with these companies as they implement their exciting strategies."

The other AIM transactions handled were Medgenics, Nautical Petroleum, Ninety, China Food Company, and Jubilee Platinum.