find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Property Lawyer
Category: Property Law | Location: All Melbourne VIC
· 12 Month Contract · Diverse Work
View details
In-House Legal Counsel (Mid to Senior)| Regulated Markets (Energy and Gas)
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Full PD on Request · Exciting High Impact Role
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
Freehills raises wine funds

Freehills raises wine funds

Western Australian wine producer and marketer, Ferngrove Vineyards Limited, was assisted in its successful rights issue with advice from Freehills.The unlisted company, whose brands include…

Western Australian wine producer and marketer, Ferngrove Vineyards Limited, was assisted in its successful rights issue with advice from Freehills.

The unlisted company, whose brands include Ferngrove Vineyards Estate and Leaping Lizard, raised $10.2 million by way of a fully underwritten rights issue. The offer of securities to existing shareholders comprised a stapled offer of ordinary shares together with reset converting preference shares.

Senior associate Richard McMullan, from Freehills’ Perth office, led the team on the transaction. He said Ferngrove planned to use the funds to continue expansion of its winery in Frankland River, Western Australia, to meet increasing demand for wine making facilities in the south-west of the state; to continue its push into overseas markets; and to retire interest bearing debt.

He said the key issue facing all of the firm’s wine producing clients was the prospects of the industry over the next 10 years. “There has been a lot of negative media talking about whether there will be an oversupply of grapes,” he said.

However, information from the Australian Wine and Brandy Corporation, used in forecasts for the company’s prospectus, indicated there was a positive future for the industry. It was interesting as a lawyer, McMullan said, to conduct a detailed line by line review of the statements to ensure they complied with ASIC’s Policy 170 on forecasts, which requires them to be based on reasonable grounds, and for those grounds to be stated.

“The difficulty as a legal adviser is trying to match the legal requirements with the client’s desire to portray the business in the best possible light.”

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

Freehills raises wine funds
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Law Council of Australia
Nov 21 2017
LCA calls for urgent adoption of ‘game-changing’ recommendation
The Law Council of Australia has urged for the immediate adoption of a key recommendation put forwar...
Sally Wheeler
Nov 20 2017
ANU College of Law appoints new dean
A distinguished legal academic and the former head of law of a higher education institution in Irela...
Violence
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
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 & ...