Icknield’s work with listed companies
The Icknield team have over 20 years’ experience in working with listed companies who are underperforming and require turnaround services. We have worked with companies who are fully listed on the London Stock Exchange and Aim listed companies. We have also worked with companies with foreign listings.
We have experience of dealing with the relisting of shares following temporary suspension on the exchange. We have also helped listed companies to delist and transition successfully into becoming private companies.
Icknield have performed a wide variety of services to listed companies. We have acted as Director, Non-Executive Director and CFO/FD on an interim basis. We have also undertaken the role of Chief Restructuring Officer when required.
Our experience with listed companies stretches across a variety of industry sectors from the Hospitality industry and Professional services to Building Materials and Pharmaceuticals. We have helped companies to survive periods of cash crisis and to raise new funds, both equity as well as debt. We are familiar with Stock Exchange rules and dealing with company turnarounds which are in the public eye.
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Icknield News
Rio Laranja update
Shahin Gulamali and Steve Smith are continuing to work with Rio Laranja after assisting the company through a debt for equity swap last year. This summer was the first post-restructuring high season for the 5-star Algarve resort and it went well with revenues up on the previous year. Icknield now have board roles overseeing the continued operational turnaround.
For further details of this luxury resort see www.valedoliveirasresort.com
Recently completed project
Ran Oren was engaged by an AIM listed company in the motor sector to prepare a cash forecast and improve its working capital. Shortly after the engagement Ran was appointed as a Finance Director of the group from May 2012 until June 2013. In September 2012 the company raised £1.75m by way of a placing and completed a board restructure and the renegotiation of a number of related party agreements. Following a property disposal in December the company repaid its bank debt in full in December 2012.
New projects
So far in 2013 Icknield have worked on eight new projects as well as continuing to work on some existing ones. We have detailed a selection of them below to show the variety of work across different sectors that we are involved in:
Steve Smith and a team from Icknield have spent 4 months assisting a London based, multi-site, accommodation business through a cash crisis. At the start of the project the business had no management information and no relevant forecasts. Icknield took on the role of Interim FD (Steve Smith) and took charge of cash management and forecasting (Dorothy Szulc), producing management information (Jaco van Niekerk) and the preparation of medium term financial projections (Mike Simpson). Our ability to field an experienced team at short notice enabled stakeholders to quickly get visibility and thereby negotiate and complete a refinancing within 4 months.
Shahin Gulamali and Bryan Atkinson have begun working with a small professional services firm. They are helping the business through a cash and facilities issue and also assisting them in developing projections and a business plan. Ran Oren was engaged by a hotel and leisure business to prepare a long term business plan. He has supported the company in its discussions with its bank in order to put in place a plan which is agreed by all stakeholders.