Ogier Global Team advises AIM listed PSPI on Open Offer

A global Ogier team combined forces to advise AIM listed Public Service Properties Investments Limited (PSPI) on its recent open offer.

PSPI is a specialist real estate investment and financing company incorporated in the BVI. Its shares were first listed on AIM in March 2007. The company's current investment property portfolio is held through various wholly-owned subsidiaries and comprises, inter alia, nursing and residential care homes, a school and resource centre for children and adults with special learning needs and an assisted living business in the UK, 14 residential care homes in 10 locations in Germany, a residential care home in Zurich and 140 post offices in the United States.

Ogier advised the company in relation to the secondary offering and provided corporate, securities, finance and regulatory advice in relation to the BVI, Cayman, Guernsey and Jersey elements of the transaction. The multi jurisdictional Ogier team worked alongside Norton Rose in London. The open offer closed on 14 April 2010.

The Ogier team was lead by BVI partner Ray Wearmouth and associate Marina Kozlova, along with managing associate Rachael McDonald. In Guernsey, partner William Simpson and associate Diana Collas provided advice on the Guernsey aspects of the transaction. Partner Tim Morgan and associate Lauren Fletcher advised on the Jersey law regulatory elements of the open offer whilst Cayman partner Nick Rogers provided Cayman law securities advice.