FCA Consults on Rule Changes to Accommodate SPACs

Proposed changes to the UK Listing Rules would allow certain SPACs to avoid a listing suspension.

Key Points:

..The FCA is proposing to amend its rules so that SPACs meeting certain conditions and disclosure requirements could avoid a listing suspension when they identify a target to acquire.

..These proposals are designed to enhance the attractiveness of the UK as a destination for larger SPACs that have appropriate investor protection measures embedded in their structures.

..Comments are requested by 28 May 2021.

Please see full Alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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