Oil & Gas - E&P: Case Study 5

Background

In 2019 we mobilised at short notice a team to supplement a client’s inhouse finance team to convert historic financial information of entities being acquired from UK GAAP to IFRS for inclusion in a pro-forma prospectus document for submission to the UK Listing Authority to allow the company’s shares to be readmitted for trading on the London Stock Exchange.

Our Approach

  • Engaged early with the various stakeholders (management, the incoming finance and HR teams in both the UK and internationally, reporting accountant, financial advisor, and brokers) to break down deliverables into manageable sizes
  • Decided on the initial priorities first and then divided up the work accordingly
  • Utilised our wealth of knowledge within the firm by bringing in experts to the team from the fields of IFRS and Oil & Gas.
  • Created significant efficiencies for the client by allowing them for focus on the “day job” and other areas of the prospectus document

The Benefits to the Client

  • The client’s shares were readmitted for trading on the London Stock Exchange
  • Provided a valuable link between the finance team in London and their new finance team in Aberdeen
  • AAB’s team delivered ahead of schedule allowing the client to get their investor’s shares on the London Stock Exchange earlier than was previously thought
  • AAB’s team were self-sufficient allowing the client’s internal finance teams to focus on their standard monthly tasks and respective deliverables

The Plus Factor in Action

We helped our client make money by streamlining processes, using the relevant resources in each team to produce accurate and efficient conclusions.

We saved our client time by engaging early with the stakeholders allowing the team to break down the deliverables accordingly to their priority. In turn leading to the completion of our key deliverable ahead of time. 

We gave our client piece of mind by mobilising a team with the relevant industry knowledge and skill set.

We supported our client now and, in the future by making sure their shares were readmitted to the London Stock Exchange within the appropriate timeframe and providing further services including updating their accounting procedures manual and hosting an IFRS training day.

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