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Conyers Dill & Pearman’s London office advised Jellybook Limited (“Jellybook”) on its private placement of 110m shares and its admission to trading on the AIM market of the London Stock Exchange. Jellybook is only the third Bermuda company to be admitted to AIM since 2007.
Jellybook is a newly incorporated Bermuda company focussing on investments in social media sector, particularly those businesses with both digital media and social networking capabilities. The primary investment criteria will be businesses that have innovative, low cost and scalable technology with the potential to obtain significant market share. The directors intend to invest a substantial portion of the company’s financial resources in one major acquisition which will be deemed to be a reverse takeover under the AIM Rules, requiring shareholder approval and re-admission of the company to AIM. Smaller acquisitions may also be made that are ancillary to the main acquisition and the directors do not intend to create a portfolio of unconnected companies.
The chairman and founder of Jellybook is Jonathan Rowland, who also founded Jellyworks plc, a dot.com investment company that was admitted to AIM in 1999 and was acquired by Shore Capital Group plc less than a year later.
Other advisers on the Jellybook admission included Allenby Capital, as Nomad and broker, Mayer Brown International, as UK solicitors, Capita, as depository and registrar, and PricewaterhouseCoopers as reporting accountants.