Michael specialises in corporate and securities law, with particular expertise in mergers and acquisitions, takeovers, equity capital market transactions, joint venture transactions, structuring of commercial arrangements and general contract negotiation. Michael has extensive experience in advising on equity capital market transactions, including NZX Main Board listings (both initial public offerings and direct listings), code company takeovers (acting for both bidder and target), block trades and secondary capital raisings. His experience includes acting for Rua Bioscience Limited on its initial public offering and NZX listing and NZ Automotive Investments Limited on its direct listing on the NZX Main Board.
Michael is highly regarded for his ability to work as an integral part of his client’s team to secure successful deal outcomes. With over 20 years’ experience in partnership at Lowndes Jordan and through his various directorships, Michael is recognised for his ability to punctually deliver quality, pragmatic and commercially focussed business solutions.
Michael has advised numerous boards on governance issues and strategy and was formerly a director and chair of NZ Law Limited. Michael is currently a director and chair of Auntsfield Estate Limited, one of New Zealand's premier wine producers and exporters, and is a member of the New Zealand Institute of Directors and the Institute of Financial Professionals New Zealand Inc.
Michael's transactional experience includes the following:
Capital raising, capital markets and securities
- Advising Rua Bioscience Limited, a New Zealand pharmaceutical company which is a pioneer in the New Zealand medicinal cannabis sector, on all aspects of its structuring and capital raising, including its successful IPO and listing on the NZX Main Board and, prior to that, its initial crowd funding capital raise and capital raises from institutional and high net worth investors.
- Advising NZ Automotive Investments Limited, an integrated used motor vehicle group operating throughout New Zealand, on all aspects of its operations including its direct listing on the NZX Main Board.
- Advising Dairy Goat Co-operative (N.Z.) Limited on its offer of co-operative shares to its transacting shareholders pursuant to a registered product disclosure statement.
- Advising the Netlogix group on its capital raising and restructuring which saw Pencarrow Bridge Fund LP acquire a cornerstone equity stake in the group.
- Advising ASX listed Neuren Pharmaceuticals Limited in relation to various capital raisings via institutional share placements and rights issues.
Mergers, acquisitions and takeovers
- Advising Next Capital and Jucy Rentals in relation to Jucy Rentals' acquisition of a fleet of luxury motorhomes and associated assets from ASX listed Apollo Tourism and Leisure Limited.
- Advising an international bidder in its bid to acquire Gull New Zealand Limited from Ampol Limited.
- Advising ASX listed HitIQ Limited on its acquisition of CSX limited.
- Advising the former shareholder of Aarque Group Limited on the sale of all the shares on issue in Aarque to Pagepack (NZ) Limited.
- Advising Off Wax Bar Limited on the sale of its hair removal, brow and lash treatment business operations to The Skin Institute Limited.
- Advising Sulco Limited on the sale of its business and operations to GPC Asia Pacific Limited.
- Advising Rex Group Limited on the sale of Simcro Limited (a developer and distributer of animal health delivery systems) to an investment vehicle controlled by The Riverside Company, a private equity company with its head office in Ohio.
- Advising the sole director of Hirequip Limited, Power Hire Limited, Projex Equipment Sales Limited and Ready Hire Limited in relation to the sale and purchase of the business and assets of those companies to an entity controlled by New Zealand Rental Group Limited (which owns Hirepool Limited).
- Advising United Vehicle Rentals Limited on the $69 million merger of the campervan rental businesses of United, Tourism Holdings Limited and Kea Campers (New Zealand) Limited.
- Advising JD Sports Fashion plc. on its acquisition of the global rights to the heritage rugby brand 'Canterbury' and 'Canterbury of New Zealand'. Michael also acted for JD Sports in relation to its acquisition of the New Zealand and Australian operations of Canterbury of New Zealand Limited and Canterbury International (Australia) Pty Limited and the subsequent divestment of those operations to its majority shareholder, Pentland Group plc..
- Advising members of the pipfruit industry in relation to BayWa Aktiengesellschaft’s takeover offer for Turners & Growers Limited.
- Advising Oggi Advertising Limited in relation to the sale of its outdoor billboard business to APN Outdoor Limited.
- Advising various vendor shareholders in relation to their $52.5 million sale of the Northplan group of companies, one of New Zealand’s largest financial advisory businesses, to Australian listed MFS Limited.
- Advising Guinness Peat Group plc. on its NZ$66.96 million partial takeover bid for Rubicon Limited.
- Advising Goldman Sachs & Co, New York, in relation to the buyback by Viking Pacific Holdings Limited of shares in itself, the compulsory acquisition of shares in Viking Pacific by funds managed and/or administered by Goldman Sachs, and the subsequent sale of shares in Viking Pacific by Goldman Sachs.
- Advising Aquila Inc. in relation to the divestment (pursuant to a public takeover) of its NZ$1.05 billion shareholding in UnitedNetworks Limited.
- Advising Merrill Lynch, Pierce, Fenner & Smith Incorporated in relation to the underwrite of Verizon Communication Inc.’s selldown of its NZ$1.6 billion cornerstone shareholding in Telecom Corporation of New Zealand Limited.
Corporate and business structures
- Advising Hikurangi Bioactives Limited Partnership on the structuring of various commercial enterprises, biotechnology projects and international licensing deals, including enterprises with Māori landowners, private companies and research entities.
- Advising Netlogix Limited on the establishment of Bearing 360 Limited – a joint venture with Oji Fibre Solutions (NZ) Limited that has developed and operates a technology solution for international shipping.
- Advising Netlogix Limited on the establishment of Nexus Logistics Limited - a joint venture with Ports of Auckland Limited that provided independent container logistic services throughout New Zealand, targeting the import/export sector.
- Advising International Nutritionals Limited (a joint venture between Wilmar Gavilon Pty Limited and Fonterra subsidiary RD1 Limited) on its establishment of a joint venture vehicle that acquired the molasses importation and distribution business of Agri-feeds Limited.
- Advising CTG Wilmar Pty Limited in relation to the establishment of an incorporated joint venture, with RD1 Limited (a Fonterra subsidiary), to import and sell to the New Zealand dairy industry the animal feed supplement Palm Kernel Expeller.
- Advising senior management in relation to their participation as shareholders in Noel Leeming Holdings Limited following the acquisition of the Noel Leeming business by various entities associated with Gresham Private Equity Limited.
- Advising Elliott Advisors (HK) Limited, an international investment firm that acquired a significant interest in Telecom Corporation of New Zealand Limited, in connection with its proposals for a structural separation of Telecom as an alternative to operational separation.
- Advising Carter Holt Harvey Limited in relation to the establishment of its joint venture with Northland Port Corporation Limited and Port of Tauranga Limited to operate a new port at Marsden Point near Whangarei, including the implementation of various arrangements regarding the export of forest product through that port.
- Advising Super Liquor Holdings Limited on all aspects of its Super Liquor franchise operations in New Zealand.