GBH Law provides support on takeover of Condor Gold
The Corporate team at Surrey-based law firm GBH Law has provided legal support to their long-standing client Condor Gold, an AIM and TSX listed gold exploration and development company with assets in Nicaragua, on its recommended takeover by way of a court-sanctioned scheme of arrangement by AIM-listed Metals Exploration plc.
Condor Gold was advised by Hill Dickinson, working closely with GBH Law Corporate Director Kate Doody, who provided invaluable support on due diligence and generally throughout the process. GBH Law’s in-depth knowledge of Condor Gold and its business has been built up over the past nine years through the provision of company secretarial services and a range of commercial legal advice including private placements, an open offer and purchase of a Mill.
Metals Exploration produced approximately 80,000 oz gold in 2024. The acquisition enables them to implement their growth strategy of building a diversified cash-generative portfolio of projects via relevant acquisition opportunities. The consideration for the takeover of Condor Gold included cash, shares and contingent value rights, and was valued at a maximum amount of £90.1 million.
Andrew Cheatle, former non-executive director of Condor Gold said, of GBH Law’s involvement: “Firstly, and most importantly, I wanted to say “thank you” for all your work as our Corporate Secretary. It has been a genuine pleasure working with/knowing you, and at all times I felt we were in legally ‘good hands.’”
Mark Child, former CEO said: “I am delighted with the result of a successful sale of Condor Gold. A great price has been achieved for Condor Gold shareholders due to competing bids. This was a complex and at times fraught transaction that lasted over 12 months and evolved from an initial “hand shake” to acquire the assets to a Code Transaction. It involved regulators in the UK and Canada. Kate Doody was pivotal to the smooth running of the transaction, at times she was almost working “inhouse”; managing virtual data rooms and fielding a plethora of due diligence questions from the acquirers’ army of accountants, lawyers and investment bankers. Kate operates quickly and efficiently at all hours and has been a pleasure to work with. She is a consummate M&A professional.”
Commenting on the transaction, Kate Doody said: “Our nine-year relationship with Condor Gold has allowed us to develop an in-depth understanding of their business, which proved invaluable during this complex transaction. Working alongside Hill Dickinson, we were able to provide targeted support drawing on our detailed knowledge of the company. It’s particularly rewarding to see a long-standing client achieve such a significant milestone in their journey.”
For further information on how the Corporate team could help you or your business click here or contact Kate Doody on 01483 239285 or at kate@gbhlaw.co.uk