BHW Solicitors, a leading corporate law firm, is proud to announce its role in advising Beowulf Mining plc on the successful completion of the consolidation of Vardar Minerals Limited and its subsidiaries.

Beowulf, listed on AIM (BEM) and Spotlight (BEO), has finalised the consolidation of its 100 per cent ownership of Vardar. This significant milestone marks a strategic move for Beowulf, empowering the company with full operational control and optionality over Vardar’s exploration assets.

Vardar is a UK registered exploration company with projects across the Balkan region. This consolidation not only streamlines management and administrative functions, but also reduces overall running costs for Beowulf.

Commenting on the achievement, Ed Bowie, Chief Executive Officer of Beowulf, expressed his satisfaction, stating: “I am delighted that we have now closed the Vardar transaction and can focus on moving the business forward. Vardar has an exciting portfolio of exploration assets in a highly prospective yet under-explored region.”

Beowulf’s investment journey with Vardar dates back to November 2018, having since invested £3.34 million, acquiring a 61.1 per cent ownership stake. With the consolidation complete, Beowulf now holds full control, paving the way for strategic growth opportunities.

Stephen McElhone, Corporate Partner at BHW Solicitors, shared his pleasure in advising Beowulf throughout its investment journey in Vardar, stating: “It has been a privilege to work closely with Beowulf Mining throughout this process. We congratulate them on the successful completion of the consolidation and wish them continued success in their investment endeavours.”

Ed Bowie further added: “Working with Stephen and the team at BHW has been instrumental in navigating this complex deal. Their expertise and guidance have been invaluable throughout our investments in Vardar over several years, always ensuring a smooth and successful conclusion.”


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