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Pitmans LLP

47 CASTLE STREET, READING, BERKSHIRE, RG1 7SR, ENGLAND
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Pitmans acts for finnCap on Tax Systems Plc reverse takeover

July 2016

Pitmans has advised finnCap Ltd in its role as nominated adviser and broker to Eco City Vehicles Plc (to be re-named Tax Systems Plc) in connection with the reverse takeover of Tax Computer Systems Limited (“TCSL”) for an enterprise value of £73 million and an associated placing to raise £45 million.

TCSL is a leading supplier of corporation tax technology solutions and services, serving large corporates and accountancy firms across the UK and Ireland.

Pitmans’ corporate partner Oliver Pilkington, assisted by Kathryn Lynne, corporate solicitor, acted on the transaction.

Jonny Franklin-Adams, Corporate Finance Director at finnCap said: "Pitmans once again delivered in what was a complicated transaction. The transaction involved many stakeholders and their advice was invaluable throughout, always finding the right balance between protecting our interests and keeping a professional yet friendly relationship with all parties."

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