Slaughter and May advised Hays plc on its placing of shares

Slaughter and May advised Hays plc (Hays) on its cashbox placing to raise gross proceeds of £200m (the Placing).

The Placing, which represented c.14.3% of Hays’ existing issued ordinary share capital, was announced on 2 April 2020. It was conducted by an accelerated book-building process, with BofA Securities, Jefferies International Limited, and UBS AG London Branch acting as joint global co-ordinators and joint bookrunners.

The purpose of the Placing is to leave Hays with a stronger balance sheet, working capital and liquidity position during this period of unprecedented disruption caused by the Covid-19 pandemic and to allow Hays to pursue organic growth opportunities with new and existing clients when markets stabilise.

Slaughter and May worked with Paul, Weiss, Rifkind, Wharton & Garrison LLP, who advised Hays on the US law aspects of the Placing, and Mourant, who advised on matters of Jersey law.

Andrew Jolly Partner
David Plant Associate
Serena Hopkins Associate

Clemency Barrett / Trainee

Gareth Miles Partner
Jamshed Bilimoria Associate