Honeycomb Investment Trust plc’s All-Share Combination With Pollen Street Capital

In UK Slaughter and May, advised on the matter.

Slaughter and May advised Honeycomb Investment Trust with a team including Harry Bacon (Corporate M&A), Guy O狸eefe (Picture – Corporate M&A), Phil Linnard (Employment), Alex Clothier (Finance), Jan Putnis (Finance), Dominic Robertson (Tax M&A and Deal Advisory).

Honeycomb Investment Trust plc made a recommended all-share combination with Pollen Street Capital.

The combined group, which will be listed on the London Stock Exchange, will offer Honeycomb shareholders the opportunity to benefit from a combination with Pollen Street, an alternative investment management company investing in credit and private equity strategies focusing on the financial and business services sectors. Honeycomb, a closed-ended investment trust providing investors with access to asset-backed lending opportunities, has been externally managed by a member of the Pollen Street group since 2016.

Under the terms of the combination, Pollen Street shareholders will be entitled to receive new shares equivalent to 45.53% of the enlarged share capital of the combined group. As part of the combination, Honeycomb intends to transfer its listing category to that of a premium listing for a commercial company.

The combination, which is a class 1 transaction for Honeycomb, is conditional on various matters, including approval by Honeycomb shareholders and regulatory clearances. It is expected to close in Q2 2022.

Slaughter and May’s team included Guy O’Keefe (Picture), Partner, Harry Bacon, Partner, David McKendrick-Ness, Associate, Xian Yeo, Associate, Henry Davall, Associate, Danny Mills, Associate, Cameron Anderson, Associate, Adam Waring, Trainee, Joseph Millard, Trainee, Angus Higgins, Trainee, James Wong, Trainee, Nick Bailey, Trainee, Jan Putnis, Partner, Kilian McConnell, Associate, Chris Hurn, Associate, Alex Clothier, Associate, Dominic Robertson, Partner, Stephanie Mullins, Associate, Richard Liu, Associate, Phil Linnard, Partner, Richard Surtees, Associate and Jennifer Allan, Associate.

Involved fees earner: Jennifer Allan – Slaughter and May; Cameron Anderson – Slaughter and May; Harry Bacon – Slaughter and May; Alex Clothier – Slaughter and May; Henry Davall – Slaughter and May; Chris Hurn – Slaughter and May; Phil Linnard – Slaughter and May; Richard Liu – Slaughter and May; Kilian McConnell – Slaughter and May; David McKendrick-Ness – Slaughter and May; Danny Mills – Slaughter and May; Stephanie Mullins – Slaughter and May; Guy O’Keefe – Slaughter and May; Jan Putnis – Slaughter and May; Dominic Robertson – Slaughter and May; Richard Surtees – Slaughter and May; Xian Yeo – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Honeycomb Investment Trust;

Author: Giulia Di Palma