ALLENS Arthur Robinson is advising Brambles Limited, a provider of support services, on its plans to cancel its secondary listing on the London Stock Exchange.
Brambles announced earlier this month its intentions to cancel the secondary listing of its ordinary shares from the Official List of the UK Listing Authority and to request that trading in those shares on the LSE be cancelled.
The company reported this month that sales in the four months leading to 31 October this year fell by 3 per cent over the prior corresponding period.
The newly announced LSE cancellation will also involve a share sale facility being offered to the holders of Brambles CDIs, the means by which Brambles shares trade on the LSE, who do not wish to hold Brambles shares on the Australian Securities Exchange.
Allens Sydney partner Vijay Cugati, and lawyers Chris Blane and Caspar Conde, advised Brambles on all aspects of the transaction. Slaughter and May advised the company on UK law issues.
Brambles is a long-time client of Allens. Cugati said it is in a position to be able to advise global clients like Brambles on international transactions such as this.