plc’s Proposed Initial Public Offering

Walker Morris advised plc on its proposed initial public offering and the placing of 40,766,165 ordinary shares at 160 pence each by Investec Bank plc, which equates to a market capitalisation on admission of approximately £100m million.

The Company has applied for admission to the main market for listed securities of the London Stock Exchange and it is expected that dealings will commence at 8.00 am on 19 July 2018, with the publication of the Company’s prospectus expected later today.

The Works is one of the UK’s leading multi-channel specialist retailers of value gifts, arts, crafts, toys, books and stationery, and occupies an attractive position within the high growth discount retail sector, offering a differentiated proposition as a value alternative to full price specialist retailers. The Group offers its dynamic and diversified product offering through its nationwide network of over 447 branded stores and concessions, as well as through its fast growing and profitable e-commerce platform,

Over the last three financial years, the Group has opened a net 134 new retail stores and concessions and the continued roll out of the Group’s store network represents a key driver of growth in the business.

Walker Morris fielded a multi-disciplinary team to advise The Works led by corporate partner Richard Naish (Picture), who was supported by Debbie Jackson, Adrian Moss, Rebecca Austin-Heath and Marianne McKeown (Corporate); Michael Taylor and Ricky Walker (Banking & Finance); Andrew Rayment and Suzanne Treen (Employment); and Cameron Baloyi Rigby (Real Estate), as well as specialist lawyers from its commercial contracts, IP and tax/share schemes’ teams.

Involved fees earner: Rebecca Austin-Heath – Walker Morris solicitor; Cameron Baloyi Rigby – Walker Morris solicitor; Debbie Jackson – Walker Morris solicitor; Marianne McKeown – Walker Morris solicitor; Adrian Moss – Walker Morris solicitor; Richard Naish – Walker Morris solicitor; Andrew Rayment – Walker Morris solicitor; Michael Taylor – Walker Morris solicitor; Suzanne Treen – Walker Morris solicitor; Ricky Walker – Walker Morris solicitor;

Law Firms: Walker Morris solicitor;

Clients: plc ;