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Conyers

Dividends out of Share Premium: A Brief Refresher

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As Hong Kong listed Bermuda and Cayman Islands exempted companies approach their annual results season, many may be considering paying their shareholders a dividend, whether due to a profitable financial year or as a gesture...more

Skadden, Arps, Slate, Meagher & Flom LLP

HKEX Implements Corporate Governance Reforms

查看中文 Following a consultation process conducted in June 2024, the Stock Exchange of Hong Kong Ltd. (HKEX) has announced finalized amendments to the Rules Governing the Listing of Securities on HKEX (Listing Rules) to...more

Skadden, Arps, Slate, Meagher & Flom LLP

HKEX Consults on New Corporate Governance Reforms

查看中文 In a consultation paper issued in June 2024, The Stock Exchange of Hong Kong Limited (HKEX) is proposing amendments to The Rules Governing the Listing of Securities on HKEX (the Listing Rules) to improve corporate...more

Skadden, Arps, Slate, Meagher & Flom LLP

Best Practices: How a Board Can Enhance Shareholder Value Creation in a Spin-Off

In an article last year, we discussed the increased pressure companies face to separate businesses that are not deemed “core,” and why tax-free spin-offs and similar transactions may be the most appealing way to achieve this....more

White & Case LLP

Italy – New Capital Markets Law

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The Italian legislature enacted new measures , effective from March 27, 2024, to attract new investors to the Italian capital markets and rationalize corporate governance dynamics (the "Capital Markets Law")....more

Skadden, Arps, Slate, Meagher & Flom LLP

Proposed DGCL Amendments Would Expressly Authorize Stockholders’ Agreements and Align DGCL Provisions with Current M&A Practices

On March 28, 2024, the Council of the Corporation Law Section of the Delaware State Bar Association (DSBA) approved proposed amendments to the Delaware General Corporation Law (DGCL) in order to align the DGCL’s provisions...more

Skadden, Arps, Slate, Meagher & Flom LLP

Corporate Trends and Financing - March 2024

Managing Deal Risks in a Challenging Regulatory Environment: Strategies and Deal Terms With antitrust and other regulators scrutinizing mergers more closely, it is crucial for companies to negotiate terms to mitigate and...more

Bennett Jones LLP

Capital Markets Tribunal Keeps High Bar to Establish Improper Defensive Private Placement

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On March 11, 2024, the Ontario Capital Markets Tribunal (Tribunal) released its reasons for dismissing Mithaq Capital Inc.'s (Mithaq) application on December 14, 2023, to cease trade a private placement that Aimia Inc....more

Skadden, Arps, Slate, Meagher & Flom LLP

Broad Reforms to China’s Company Law Will Affect Most PRC Companies

On December 29, 2023, China enacted the amended Company Law of the People’s Republic of China (Amended PRC Company Law), which will come into effect on July 1, 2024. These are some of the most significant changes to the laws...more

A&O Shearman

Delaware Court of Chancery Invalidates “New Wave” Stockholder Agreement Constraining Board Authority

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This enduring cornerstone of Delaware corporate law is rooted in Section 141(a) of the Delaware General Corporate Law (“DGCL”): “The business and affairs of every corporation […] shall be managed by or under the direction of...more

Latham & Watkins LLP

Italy Approves New Legislation to Support Listings on Euronext Milan

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The legislation aims to enhance the competitiveness of the Italian capital markets by introducing various reforms regarding the listing process and corporate governance. Listings on Euronext Milan are supported by Bill n....more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Preserves Key Tool for Activists in Listing Rules Reform

Activist shareholders had a busy 2023: The incidence of activist campaigns in Europe soared by almost 70% compared to 2022, according to data compiled by Skadden and Activistmonitor. As we described in a previous issue of The...more

Wilson Sonsini Goodrich & Rosati

Delaware Court of Chancery Addresses Fiduciary Duty Claims in the Direct Listing Context

On February 1, 2024, Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery issued a decision refusing to dismiss stockholder claims against directors and officers of Coinbase Global, Inc. over their sales of...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Adopts Final Rules Affecting SPACs and De-SPACs and Provides Related Guidance

On January 24, 2024, the Securities and Exchange Commission (SEC) adopted final rules that impose significant additional procedural and disclosure requirements on initial public offerings (IPOs) by special purpose acquisition...more

Katten Muchin Rosenman LLP

More Money, More Problems: Providing additional capital to UK companies in turbulent times

The UK economy continues to deal with significant upheaval, and the outlook for investors holding significant equity stakes in UK portfolio companies is increasingly hard to predict. A change in the trading relationship with...more

A&O Shearman

FCA moves ahead with a single equity listing category

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On 3 May 2023, the FCA published its consultation CP23/10*** setting out revised "semi-final" proposals for its listing segments reform. These follow on from its discussion paper DP22/2 published a year ago, which itself...more

Latham & Watkins LLP

Recent Developments for UK PLCs - March 2023 Edition

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This edition covers the new Investment Association Share Capital Management Guidelines and Shareholder Priorities for 2023, FRC publications on ESG and corporate governance, and the FCA’s Primary Market Bulletin 43....more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

Orrick, Herrington & Sutcliffe LLP

Going Beyond Climate: A Closer Look at Environmental Proposals

ESG-related shareholder proposals featured prominently in the most recent proxy season, with nearly 40% of large-cap public companies facing a shareholder vote on ESG topics over the first half of 2022. As introduced in an...more

Conyers

Euronext Growth Oslo Appointed as an ‘Appointed Stock Exchange’ in Bermuda

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Euronext Growth Oslo has been appointed an ‘appointed stock exchange’ for the purposes of the Companies Act 1981 of Bermuda (the “Companies Act”). The order making the appointment was signed by the Minister of Finance on 7...more

A&O Shearman

18th Annual Corporate Governance & Executive Compensation Survey 2020

A&O Shearman on

In last year’s Survey, we noted that concern for environmental and social issues (the “E” and the “S” of “ESG”) had reached an inflection point, having taken center stage from the more traditional governance issues (the “G”...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Morrison & Foerster LLP

Update Capital Market And Corporate Law: Act Implementing The Second Shareholder Rights Directive (ARUG II)

With some delay, the ARUG II came into force on January 1, 2020. The focus is on changes in the German Stock Corporation Act. The changes that are significant in practice relate to the remuneration of the Management Board and...more

Mintz - Securities & Capital Markets...

You’ve Got Mail! Emails May Be Subject to Stockholder Books and Records Requests

Delaware corporations have always been required to provide certain information to their stockholders under Section 220 of the Delaware General Corporation Law (DGCL), but the scope and form of that information has naturally...more

McDermott Will & Emery

ISS and Glass Lewis Update Proxy Voting Guidelines for 2019

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Institutional Shareholder Services Inc. and Glass, Lewis & Co., LLC both recently issued their annual proxy voting guideline updates. As revised, these guidelines have important implications for companies preparing for the...more

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