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RPC advises TMT Acquisition plc in its all share sale to Belluscura plc

Published on 12 February 2024

International law firm RPC has advised TMT Acquisition plc (TMT) in its sale to Belluscura plc in an all-share deal.

TMT had previously raised approximately £4.73 million and obtained admission of its share capital to listing on the Official List (standard segment) and to trading on the Main Market to become a special purpose acquisition vehicle.

 The acquisition by Belluscura, an AIM-quoted, leading medical device developer creates a significant working capital injection for the company to leverage its position as a leading provider of oxygen enrichment technology.

The acquisition was first announced on 25 October 2023 with the formal offer document posted to TMT shareholders on 19 January 2024, the offer remains open until 19 March 2024.  The offer has now become unconditional with Belluscura currently owning 24,974,109 shares in TMT, representing 90.81 per cent of the issued share capital of TMT.

The RPC deal team was led by Partners James Channo and Connor Cahalane, supported by Associate, Rachel Stanley.

James Channo noted: "We are pleased to have advised TMT on this all-share acquisition by Belluscura which we hope will assist Belluscura with its future growth and benefit the shareholders of Belluscura and former shareholders of TMT going forward."