Ashurst has advised Credit Suisse Securities (Europe) Limited, Jefferies International Limited and J.P. Morgan Securities plc as joint bookrunners (the "Joint Bookrunners") on a block trade placing of shares in FTSE 250 Imagination Technologies Group plc (the "Company") held by Intel Capital Corporation and Intel Capital (Cayman) Corporation (together, "Intel Capital").

The Joint Bookrunners successfully placed, by way of an accelerated bookbuild, 25 million existing ordinary shares at 205 pence each, raising an aggregate of £51.25 million for Intel Capital. The shares sold represent approximately 9.3 per cent. of the issued share capital of the Company. Intel Capital continues to hold approximately 5 per cent. of the issued share capital of the Company, which is subject to a 90-day lock-up from the closing date (2 July 2014).

The Ashurst team was led by corporate partner Nick Bryans, assisted by David Dowding (senior associate) and Louise Chan (trainee solicitor). Partner Jennifer Schneck advised on US securities laws matters. Richard Palmer (partner) and Philippa Michie (senior associate) assisted on tax related matters.