find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Kemp Strang powers ahead on hydro-electric listing

Kemp Strang powers ahead on hydro-electric listing

David Nolan Kemp Strang

The three-office firm advised on the public listing of Genex Power, the company behind Australia’s third-largest hydro-electric storage project.

Firms: Kemp Strang (Genex Power); Norton Rose Fulbright (Zhefu Hydropower International Engineering Corporation)

Deal: Genex Power listed on the ASX after conducting two rounds of seed fundraising, including a substantial investment by Zhefu

Value: Undisclosed

Key players: The Kemp Strang team was headed up by David Nolan, who was assisted by senior associate Tom Morgan.

Deal significance:

According to a statement from Kemp Strang, Genex flagship project will be the Queensland Hydro Electricity plant, slated for completion in 2018.

Mr Nolan suggested the listing was successful, given shares were oversubscribed, but said the transaction involved highly technical aspects, including the involvement of a major overseas investor.

“Genex had to first acquire the Kidston Mine from Barrick Gold Corporation. They are not only the world’s largest gold company but Kidston was previously the largest open-cut mine in Australian history,” Mr Nolan said.

“This required significant due diligence on legal, regulatory, tax and financial aspects of the acquisition as well as approvals from the Queensland Government.”

The two rounds of seed fundraising involving the negotiation of a “cornerstone investment” with Shenzen-listed Zhefu Hydropower International Engineering Corporation, a world leader in hydroelectric equipment manufacture, according to Mr Nolan.

“This included a commitment by Zhefu to retain 20 per cent of the shares in Genex following completion of the IPO,” he said.

“Their investment was initially via a secured convertible note and came with the commensurate advice required when providing security to an overseas company, and consideration of FIRB and other related matters.”

The offer was fully underwritten by RBS Morgans.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Kemp Strang powers ahead on hydro-electric listing
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...