The financial organisation provided advisory assistance for Bourne Financial Services on their purchase of a share in Serviced Office Group plc.
Richard Speak and Gerald Raingold from Pall Mall Capital commented on Bourne Financial Services’ purchase of the share “Due to the economic downturn, the Serviced Office sector in the UK has seen a significant resurgence and is gaining strong impetus. As a direct result of this market momentum, there will be further transactions within the sector in the short-term”.
This is the second deal that Pall Mall Capital has executed with a listed company in the UK this month.
Mr Speak and Mr Raingold further stated “Pall Mall has earned its reputation as a leading transcontinental cross-border M&A specialist. However, we have demonstrated recently that we are also active in the UK domestic market”.
The Serviced Office Group plc revealed that figures showed a £892,340 profit from their 3.5p shares. The subscription of the shares has been provided by Lexton Assets SA, based in Panama.
The Managing Director of Bourne Financial Services, Andrew Bourne, is a beneficiary of a trust in which Lexton Assets acted as a nominee. Bourne Financial Services focus on providing Serviced Offices for companies within the financial sector. This deal should see the Serviced Office Group plc issue as many as 25,495,434 shares, which will work out at £22.5% of the company’s total share capital.