LexisNexis Market Tracker Provides Insight into Placing Agreements
Directors’ indemnities and warranties examined
LONDON, 25 March 2013 – LexisNexis UK (www.lexisnexis.co.uk), a leading provider of content and technology solutions, today announced the publication of its Market Tracker trend analysis report: ‘Tracking the market: Directors’ indemnities and warranties in placing agreements’. The report is based on interviews with 50 senior corporate finance advisers. It provides unique analysis and insight, not available elsewhere, for financial and legal advisers to Main Market and AIM companies and is based on information not readily available in the public domain.
The report examines a number of initial public offers and secondary offers by companies admitted to trading which took place during 2012 to identify market practice on directors’ indemnities and warranties in placing agreements.
Nick West, LexisNexis Director of Legal Markets, commented: “Our goal at LexisNexis is to provide both must-have tools and information for our customers and to provide them with insights to help them do their jobs more effectively. This report provides a guide to market practice in this area during 2012 for sponsors, nominated advisers, brokers and their advisers. LexisNexis commissioned this research because we realise how important this is for financial advisers who work in this area.”
LexisNexis commissioned the research which considered, for executive and non-executive directors, how many placing agreements included directors’ indemnities and/or warranties, how long directors were liable under any warranties/indemnities given, the financial limit of the directors’ liability, and whether the directors were liable on a joint and several or several basis.
The report also provides insight for directors of a company involved in a transaction where a placing agreement is being signed by them. It provides guidance as to what a financial adviser will ask directors for when a company is carrying out either an initial public offer or secondary offer on the Main Market or AIM.
Market Tracker is a unique service for corporate lawyers available through Lexis®PSL Corporate, providing an easy-to-use gateway to current market activity, monitoring public transactions and focusing on structures and trends. Trend analysis reports are a key feature of Market Tracker.
‘Tracking the market: Directors’ indemnities and warranties in placing agreements’ can be accessed by clicking on this link.
The research was conducted by David Burton Associates in January 2013. The respondents were a cross section from brokers, corporate finance firms, banks, law firms and accountancy firms involved in advising companies admitted to trading on the Main Market or AIM.
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LexisNexis Legal & Professional (www.lexisnexis.com) is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content, to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. Part of Reed Elsevier, LexisNexis Legal & Professional serves customers in more than 100 countries with 10,000 employees worldwide.
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