Nettec acquires Newfound Group in reverse takeover for up to £95 million

On September 26, 2006, Nettec plc's new group holding company, Newfound N.V., a corporation listed on AIM, acquired the Newfound Group pursuant to a reverse takeover worth up to £95 million. The Newfound Group is an international developer of up-market resorts, pursuing a vertically integrated business model with multiple revenue sources, including development, marketing and sales, and operations. It owns a resort in Newfoundland, Canada and has land interests in two new resort sites in the Caribbean, in Nevis and in St. Kitts. The Newfound Group retained Fasken Martineau as a direct result of its emerging expertise in cross-border exchangeable share transactions. Fasken Martineau lawyer Gary Fogler, assisted by Bo Crnatovic, Sarah Gingrich and Mitch Thaw, advised the Newfound Group in this transaction.