Isle of Wight: BLTL advises on placing

The corporate and banking team at leading law firm Blake Lapthorn Tarlo Lyons has advised PLUS Market (formerly OFEX) listed client, Isle of Wight Private Hospital plc, on a £3.1 million placing and open offer and new revolving and term loan facilities with The Royal Bank of Scotland plc.

The Blake Lapthorn Tarlo Lyons team comprising of corporate assistant Zahid Kamal, corporate partner Stephen Archibald and banking lawyer Ben Graham-Evans (all based in Southampton) worked together with IF Mackinnon & Company LLP, the company’s PLUS Market corporate adviser and the leading corporate finance practitioner on the Isle of Wight.

Isle of Wight Private Hospital plc owns and operates the only independent hospital on the Isle of Wight. The placing and open offer, which were conditional on shareholder approval, became unconditional following a general meeting of the company held in mid-January.

Michael Doherty, chairman of Isle of Wight Private Hospital plc, commented: “The exceptionally high standard of service provided by Blake Lapthorn Tarlo Lyons played a crucial role in reaching the finishing line on what was an important transaction for our company. I now look forward to developing our business and future opportunities to work with BLTL.”

Iain Mackinnon of IF Mackinnon & Company LLP commented: “We were very glad to work with Blake Lapthorn Tarlo Lyons on this fundraising exercise. The project had a very tight timescale to adhere to, and the two firms working together as one team enabled us to meet the deadlines and bring the project to a successful conclusion. We look forward to working with Blake Lapthorn Tarlo Lyons on similar future projects.”