Hale and Dorr advised nCipher Plc, a leading developer of hardware products for Internet security, on the return of £65 million to shareholders via a share capital reorganization.
The return of capital was achieved by way of a reduction in share capital, a bonus issue of redeemable shares and a consolidation of the existing issued share capital.
"I am once again delighted with the service we have received from the team at Hale and Dorr, this time in support of our return of capital to Shareholders", said Alex van Someren, Chief Executive Officer at nCipher. "Consistent with our experience during admission to the Official List and with our longstanding relationship with the firm, Hale and Dorr's team have demonstrated great breadth and depth of technical knowledge, real attention to detail, constant application to the task and a sincere devotion to getting the job done on time. We are delighted to have their support and advice, and we look forward to continuing to enjoy the benefit of their service in the future.”
Partner David Gent advised nCipher on all aspects of the return of capitol to shareholders. He was assisted by Associate, Sarah Hanlon and Employee Share Schemes Partner, Chris Prout.