Regulatory Alerts2024-04-19
Added · Updated
The Companies (Further Issue of Shares) Regulations 2020
These regulations establish the conditions for listed companies issuing further capital through right shares, bonus shares, employee stock option schemes, and other non-right offers. They mandate board approvals, specific disclosure requirements in offer documents, and underwriting obligations for unsubscribed portions of right issues. The rules also prohibit issuers with defaults from making right issues and require sponsors to retain shareholdings for one year or project completion, whichever is later.
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