Slaughter and May is advising Honeycomb on its recommended all-share combination with Pollen Street Capital

Slaughter and May is advising Honeycomb Investment Trust plc on its 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.

Corporate Finance
Guy O'Keefe Partner
Harry Bacon Partner
Henry Davall Associate
Danny Mills Associate
Cameron Anderson Associate

Adam Waring / Trainee, Joseph Millard / Trainee, Angus Higgins / Trainee, James Wong / Trainee, Nick Bailey / Trainee

Financial Regulation
Jan Putnis Partner
Employment and Incentives
Phil Linnard Partner