Lewis Silkin has advised new client Solomon Capital in the launch of its £35.76m (13p per share) mandatory cash bid to take AIM-listed company Metals Exploration private.

Solomon Capital, which is wholly owned by Christian Candy, the well known joint founder and CEO of property firm Candy & Candy, was formed specifically to invest in Metals Exploration, and already owns 44.1% of the company. Funding for Solomon Capital’s purchase will be provided by Candy’s Guernsey-based CPC Group, a property development business.

Metals Exploration specialises in natural resource and development. Its principal activity is to identify, acquire and develop mining companies, businesses or projects with particular emphasis on precious and base metal mining opportunities in the Pacific Rim. It is currently focused on the development of its Runruno gold and molybdenum project in the Philippines.

The Lewis Silkin team is comprised of corporate partner Philip Lamb, Senior Corporate Associate Nadim Khan and Corporate Associate Steve O’Mahony.

Commenting on the offer, Philip Lamb said:

“We have very much enjoyed the opportunity to advise Solomon Capital on this exciting offer. We believe that Metals Exploration will benefit from becoming a wholly owned private company and as such look forward to working on the next phase of the deal.”

ENDS

For further information please contact:

Becky Gillett
Marketing & Business Development Manager
Lewis Silkin LLP
5 Chancery Lane
Clifford's Inn
London
EC4A 1BL

T:+44 (0) 20 7074 8234

E:Becky Gillett