Nabarro has advised Numis Securities as sponsor, nomad and broker on a £20 million placing for main market-listed CPPGroup Plc (CPP) and the subsequent move of CPP from the Official List to AIM, which completed on 11 February 2015.

The transaction also involved a proposed refinancing and creditor restructuring, capital reorganisation and waiver of the Rule 9 mandatory offer requirements of the Takeover Code. The transaction is intended to stabilise CPP's platform, improve liquidity, and provide a more appropriate capital structure to support its future development.

CPP is an international assistance business operating in the UK and overseas within the financial services, telecommunications and travel sectors. CPP primarily operates a business-to-business-to-consumer (B2B2C) business model providing services and retail, wholesale and packaged products to customers through business partners as well as direct to consumers. CPP's core assistance and travel service products help to provide security and enhance the experience of travel for customers worldwide, designed to make everyday life easier to manage.

The Corporate team at Nabarro acting for Numis was led by partner Alasdair Steele and included senior associate Philippa Chatterton and associate Sarah Etherington.

Commenting on the transaction, partner Alasdair Steele said:

"We are pleased to have been able to support longstanding client Numis Securities on this complex refinancing of CPP as it moves to the next stage in its evolution."

Eversheds LLP advised CPP.