On December 31st, 2007 Oxford Advanced Surfaces Group PLC (OASG) (formerly called Kanyon PLC) acquired 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.
Nigel Gordon, Chris Chrysanthou, Allistair Booth, Peter Rhodes, Brendan Gallen and Lucy Heaviside of Fasken Martineau Stringer Saul advised Oxford Advanced Surfaces Group PLC on this matter.