The Challenge
Meox Limited, a manufacturer of hydraulic hoses, needed legal support to implement a complex three-stage restructure and re-capitalisation of the business.
Meox Limited, a hydraulic hose manufacturer, required legal support to restructure and recapitalise the business. The transaction involved a three-stage process:
- Capitalisation of an existing investor loan
- Issue of bonus shares to shareholders
- Reduction of capital
This was a technically complex exercise that demanded strict sequencing of documents, precision in timing, and close coordination with multiple parties — including external investors whose sign-off was essential.
Sumer Law responded
Mary Pears, Sumer Law worked alongside Ben Chaplin at Scrutton Bland to provide end-to-end legal support. Their work included:
- Drafting and advising on the capitalisation agreement for the loan.
- Preparing and issuing bonus share documentation in compliance with company law.
- Managing the capital reduction process, ensuring statutory requirements were followed.
- Coordinating execution of documents with shareholders and external investors, overcoming logistical delays in obtaining signatures.
- Providing ongoing commercial advice to ensure the process aligned with the client’s business goals.
- Advising on and agreeing a fee adjustment as complexities emerged, ensuring transparency with the client.
The Outcome
- Restructure completed successfully where all three stages executed in the correct order without delays.
- Legal risk mitigated – Statutory processes carefully managed to avoid compliance issues.
- Client recognised the high level of legal and commercial support provided.
