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Covington Advises Cenkos Securities on Tanfield Group’s £115 million placing

8/7/2007

LONDON, 7 August, 2007 - Covington & Burling LLP acted for Cenkos Securities plc in its role as nominated adviser and joint broker to Tanfield Group Plc in Tanfield’s £115 million placing of ordinary shares. Tanfield, the AIM-listed manufacturer of zero emission electric vehicles and aerial work platforms, will use part of the proceeds from the placing to fund the cash element of the $100 million consideration for the acquisition of US-based Snorkel Holdings LLC, a worldwide supplier of high quality industrial aerial work platforms.

Covington’s appointment for the transaction marks the first time it has represented Cenkos Securities. Stephen Keys of Cenkos Securities commented: “We were looking for a firm with a solid reputation for advising on AIM transactions which also had the expertise to guide us through the complex issues that often arise in deals with a significant US element.”

Simon Amies, corporate partner and head of the AIM practice at Covington said: “We’re delighted to have been appointed by Cenkos on this deal. This was not a straightforward domestic assignment and gave the Covington team a perfect opportunity to utilise our experience and expertise in advising on complex trans-Atlantic transactions.”

The Covington team comprised London-based corporate partner Simon Amies and senior corporate associate Gregor Frizzell, with senior counsel Tod Ackerly advising on US securities laws matters.

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