Appleby acted as British Virgin Islands and Isle of Man legal counsel to digital advertising company Crossrider plc in connection with its recent admission to AIM.

The placing, which was oversubscribed, successfully raised ?45.9 million (US$75 million).

Crossrider operates in the rapidly growing digital advertising market, specialising in improving return on investment for advertisers and better monetisation for publishers through data acquisition and analysis. It has both web and mobile platforms and has developed a proprietary ad-serving algorithm and engine that can extract value from its data to deliver relevant advertising to targeted users.

During the build-up to its AIM admission, Crossrider redomicilled from the BVI to the Isle of Man.

The Appleby team was led by Kyle Sutherland, Counsel in the Corporate & Commercial department, with support from Associate Katherine Johnson.

Kyle said: “Appleby was pleased to be part of an exciting development for this fast-growing business and to see such a successful start to its admission to AIM.”

Faye Moffett, Partner and Corporate & Commercial Practice Group Head added: “Appleby was ideally placed to deliver the cross-jurisdictional services required by Crossrider thanks to our established presence in both the BVI and Isle of Man. The fact we operate from bases in multiple jurisdictions ensures our clients can benefit from seamless service delivery through a joined-up network of experienced and expert lawyers.”

Berwin Leighton Paisner LLP were UK legal advisers to the company, with Shore Capital acting as nominated adviser and broker.

Photo - Kyle Sutherland.