Travers Smith corporate partner, Anthony Foster, advised long-standing client, the Peel Group, in underwriting a £6m rights issue by Coalfield Resources plc. The Peel Group currently holds 29 per cent. of Coalfield Resources.

The fundraising, subject to shareholder approval, will be used by Doncaster-based Coalfield Resources to repay bank debt and to provide additional working capital. 

The Travers Smith team included corporate associate Mohammed Senouci.

Eversheds LLP advised Coalfield Resources.