Panmure Liberum acts as Joint Financial Adviser and Corporate Broker to Aurora UK Alpha (formerly Aurora Investment Trust) on its combination with Artemis Alpha Trust
We are pleased to announce that Panmure Liberum has acted as joint financial adviser and corporate broker in relation to the combination of Aurora UK Alpha plc (“Aurora”) with Artemis Alpha Trust plc (“Artemis”) by way of scheme of reconstruction.
Under the terms of the scheme, Artemis shareholders were issued new ordinary shares in the Aurora determined on a Formula Asset Value (“FAV”) for FAV basis and had the option to elect for a cash exit of up to 25% of Artemis’ shares in issue.
The combined fund has net assets of approximately £300m and will continue to invest in a portfolio of UK listed companies. As part of the transaction, shareholders will benefit from enhanced scale and liquidity, a lower ongoing charges ratio and a significant contribution to transaction costs from Phoenix Asset Management, the investment manager of the combined fund.
Panmure Liberum Team
Investment Banking – Chris Clarke, Ashwin Kohli
Sales – Michael Janes, James Shields, Joe Yendell, Tom Biltcliffe
