Regulatory Alerts2021-07-02
Added · Updated
Primary Market Effectiveness Review: Feedback and final changes to the Listing Rules
The Financial Conduct Authority introduces a targeted dual class share structure for premium listings, permitting weighted voting rights with a maximum ratio of 20:1 held by directors or their estate beneficiaries for up to five years. The minimum market capitalisation threshold for shares in companies other than funds is set at £30 million, replacing the previous £700,000 requirement, while the minimum free float requirement is reduced from 25% to 10%. Minor modernisations are applied to the Listing Rules, Disclosure Guidance and Transparency Rules, and Prospectus Regulation Rules, with the primary changes taking effect on 3 December 2021 and minor updates on 10 January 2022.
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