Firms: Herbert Geer (Lion Selection Group Limited)
Deal: Compliance listing of Lion’s shares on the ASX in March 2013
Value: $62 million
Key players: Corporate Partner Adam Brooks, together with corporate senior associate Wendy Miller, led the listing process that commenced in October 2012.
Deal significance: Herbert Geer assisted on a revised management agreement between Lion and its manager, Lion Manager Pty Ltd; the issue of bonus options by Lion to existing shareholders via a transaction-specific prospectus, and the compliance listing of Lion’s shares on the ASX.
Lion’s shares were previously listed on the National Stock Exchange of Australia. An overwhelming majority of Lion’s shareholders voted in favour of the move to the ASX.
Lion’s investment model focus is on direct investments in early stage mining and exploration. Lion’s directors believe that Lion’s portfolio is well positioned to leverage improvements in this mining cycle, as the company provides capital at an early stage to assist investees along the development curve and aims to exit following consideration of value after project development, and the timing of the investment cycle. The ‘Lion Plan’ was designed to improve Lion’s liquidity and share price and set Lion up for the next phase of growth.