In 2015 following an approach by an Australian company to one of our clients we were alerted by the Directors of Plum Software Ltd,
Ann Dempster and David Felix-Davies as to the potential sale of the business.
Recognising the sensitivities around a potential business disposal, we immediately set about briefing the Plum team as to what the process would involve, aspects of confidentiality, having all necessary documentation ready for a Due Diligence exercise to take place and the potential resultant tax position for the shareholders.
We advised that it would be helpful to engage with a firm of lawyers at an early stage and West Midlands firm Hawkins Hatton were selected by the client. We viewed this as essential given that the buyer was half way around the world and within a different legislative framework. Having previously worked with some of the lawyers at Hawkins Hatton it made communication of key issues very easy between everyone. Walker Thompson dealt with all necessary advance tax clearances as necessary and input into the data room process set up by the lawyers.
We read , amended and reviewed as necessary all the legal documents in co-operation with the legal team and guided our clients through all stages of the negotiating process which finally resulted in a successful outcome for everyone concerned. The Directors will stay with the company for a period of time in order to harmonise systems and processes.
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