Offshore law firm, Appleby, advised oxide gold miner and developer CIC Gold Group Limited (CIC Gold) a Seychelles registered company headquartered in Beijing, China in relation to its flotation on the Main Market of London’s Stock Exchange (LSE) on 23 June 2015. The initial offering makes CIC Gold the only Seychelles Company on the Main List.
CIC Gold’s market cap is valued at GBP3.1m. The Company intends using the listing funds raised to make acquisitions in undervalued gold properties, where gold is the principle commodity or gold mining is the principal activity. Its focus will be on quoted and private companies with strong underlying fundamentals suitable for producing substantial increases in value by funding and applying de-risking strategies and other corporate actions.
Appleby, as dedicated Seychelles counsel, advised on all Seychelles regulatory and structuring aspects of the listing Appleby Seychelles Managing Partner, Malcolm Moller, and Counsel, Anjana Ramburuth, jointly lad on the deal.
Commenting on the transaction, Anjana Ramburuth said: “Assisting CIC Gold on its successful debut listing was a real honour and gives the Seychelles a significant boost in profile in The City. Completing this deal was a substantial achievement for all concerned and a major milestone in the positioning and development of our client CIC Gold.”