Watson Farley & Williams (“WFW”) has advised VSA Capital Limited (“VSA Capital”) acting as sole broker on a placing and direct subscription for Prospex Energy plc (“Prospex”) which, together with a retail offer to existing shareholders via the Winterflood Retail Access Platform, raised gross proceeds of approximately £4.2m.
The net proceeds will be used by Prospex to acquire an indirect ownership interest in the Viura producing gas field onshore in northern Spain.
VSA Capital is an international investment banking and broking firm, providing corporate finance, advisory and capital markets services to private and public growth companies. Prospex is an AIM quoted investment company focussed on European gas and power projects.
The WFW London Corporate team that advised VSA Capital was led by Partner Sarah Williamson, working closely with Senior Associate Clementine Freeth and Trainee Zac Goodwill.
Sarah commented: “We are delighted to have supported VSA Capital on this important fundraising for Prospex. This transaction highlights WFW’s reputation as a leading law firm for equity capital market transactions in the natural resources sector”.
Andrew Raca, Head of Corporate Finance at VSA Capital said: “WFW did a great job in a tight timescale. They did what was needed: quick, efficient and effective”.
