RTS had a group of companies involved in integrated automation solutions for scientific, environmental, manufacturing and process applications. It was originally fully Listed but transferred to AIM in 2005, following which it demerged its nuclear services business in 2006.
The Board of RTS came to Cattaneo LLPafter the Board had been considering the options available to the Company to maximise shareholder value against a period of difficult trading conditions for its operating businesses. Cattaneo LLP was appointed to negotiate the disposal of all of the operating businesses of RTS and to advise on the regulatory issues relating to the Company becoming an investment company under the AIM Rules.
Cattaneo LLP not only assisted the Board to manage the sale process but also project managed the preparation of the public documentation needed for a transaction of this nature getting sign off at various stages in the process from RTS’ NOMAD, Collins Stewart. The transaction involved the transfer of all of the trading activities into one subsidiary, assigning a lease on RTS’ premises in the UK to the purchaser and a change of name of RTS to Hephaestus Holdings PLC.
WHAT OUR CLIENT SAID:
‘We were very pleased with the work undertaken by Cattaneo LLP in helping to get this transaction successfully completed. They worked well with our team and when the chips were down and we needed to get an announcement out to the regulatory news service in the early hours of the morning with no obvious way of doing it Cattaneo LLP came up with the solution. We look forward to making carefully selected acquisitions and to growing both the company and shareholder value from the platform that we now have.’
Chris Brown, Chairman of Hephaestus formerly RTS