The UK Takeover Panel (Panel) has made its first-ever compensation order under the statutory powers granted to it under the Companies Act 2006 (CA 2006). It has also issued “cold shoulder” orders against 10 individuals, the...more
Following the recent publication of the new UK Listing Rules (UKLRs), FTSE Russell published guidance on how the criteria for inclusion in the FTSE indices will change to reflect the new regime. ...more
The new UK listing regime, entering into force on 29 July 2024, is the result of more than three years and multiple rounds of consultation and is intended to make the UK a more attractive market for listing. The Listing Rules...more
The UK Financial Conduct Authority (FCA) recently launched a consultation on proposed reforms to its Listing Rules, designed to enhance the attractiveness of UK markets for companies seeking to go public. The proposed changes...more
The rule changes mostly reflect those proposed in the April 2021 consultation. The key change is that the new regime will apply to SPACs which raise a minimum amount of £100 million at IPO (as opposed to a £200 million...more
Key proposed changes to the UK listing regime include the removal of the presumption of suspension in trading in a SPAC’s shares when it announces a potential acquisition, subject to certain qualifying criteria being met....more
5/6/2021
/ Capital Markets ,
Capital Raising ,
Initial Public Offering (IPO) ,
Investment ,
Listing Rules ,
Popular ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Special Purpose Acquisition Companies (SPACs) ,
Target Company ,
UK
Recommended changes include allowing dual class share structures for premium listed companies, changes designed to increase the attractiveness of UK listings for SPACs, and changes to the free float requirement....more
Proposed changes to the UK Takeover Code include simplifying and adding flexibility to the timetable applicable to contractual offers, as well as making offer conditions relating to antitrust clearances subject to the same...more
The offeror for Moss Bros sought to rely on standard material adverse change conditions to lapse the offer, on the basis of the impact of the coronavirus (COVID-19) pandemic and related UK governmental measures on Moss Bros. ...more
Companies trading on either the London Stock Exchange’s Main Market or AIM should ensure that their systems and procedures reflect changes to their disclosure and other obligations arising from the implementation of the new...more
10/24/2016
/ AIM ,
Disclosure Requirements ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Investor Protection ,
London Stock Exchange ,
Market Abuse ,
PDMR ,
Share Buybacks ,
UK
UK companies will be obliged to take steps to identify and maintain a public register of persons with significant control, and such persons must supply such companies with information for inclusion on the register or face...more
Removal of the Model Code and Disclosure Rules are among the important modifications.
On 5 November 2015, the UK Financial Conduct Authority (FCA) published its consultation paper addressing the changes it proposes to...more
The requirements mandate that UK-listed companies that operate in the extractive industries sector make public disclosures relating to payments made to governments....more
Decision serves as a reminder that careful consideration should be given to provisions dealing with the consequences of breaches of restrictive covenants and other terms of commercial agreements....more
Court holds that directors may legitimately defer to the views of fellow directors if persuaded that the views are in the best interests of the company.
On 18 October, in Madoff Securities International Limited (In...more
Obiter dicta by High Court suggests that damages may not be available as a remedy where an English company breaches a contractual obligation and performance of that obligation would have required a breach of the "capital...more
Court confirms that, in certain circumstances, a contract can be made in two jurisdictions.
On 7 October 2013, in Conductive Inkjet Technology Ltd v Uni-Pixel Displays Inc, [2013] EWHC 2968 (Ch), the High Court of...more
High Court holds that reports used by the Serious Fraud Office to obtain search and arrest warrants are not subject to litigation privilege in subsequent civil proceedings.
...more