Index by publication date (from June 2005)
This page consists of UKLA newsletter articles listed by title after the Prospectus Directive was implemented.
| Date | Articles | Rule |
|---|---|---|
| June 2005 Issue 9 |
Inside information - framework for handling |
DTR 2.2 |
Communications with shareholders and other interested parties |
DTR 2.2.10 |
|
| Analysts | DTR 2.2.10 | |
| Press speculation and market rumours | DTR 2.7 | |
| Close periods (listed companies only) | LR 9, Model code | |
| Takeovers and mergers | DTR 2.2 | |
| Announcements by industry regulators, trade associations and government departments | ||
| Disclosing information under an embargo | DTR 2.5 | |
| The internet | DTR 2.3 | |
| Regulatory information services (RIS) | DTR 2.2.1 | |
| Insider lists | DTR 2.8 | |
| Persons discharging managerial responsibilities | DTR 3 | |
| Contact details | LR 9.2.11 | |
| June 2005 Issue 10 |
Definition of public offer | FSMA s102B |
| Offers to discretionary private client brokers | PR1.2.1 | |
| Definition of public offer for determination of home competent authority | PR1.2.1 | |
| Employee share schemes and options | PR 1.2.2(5), PR 1.2.3(6) | |
| Exemptions from the requirement to produce a prospectus | PR 1.2.2 | |
| Working capital statements | LR 6.1.16, PR Annex 3 | |
| 6 day rule | 3.1 PR 3.2.3 | |
| Annual information updates | PR 5.2 | |
| Prospectus summaries | PR 2.1.2 | |
| Sept 2005 Issue 11 |
Supplementary prospectuses | PR 3.4 |
| Withdrawal rights - specifically in relation to takeovers and rights issues | s87Q FSMA | |
| Six day rule | PR 3.2.3 | |
| How we will deal with documents from AIM issuers | PR 2.2, 2.3, 2.4 | |
| Mini-prospectuses | PR 3.3 | |
| The requirement for a suspension on announcement of a reverse takeover | LR 10.6 | |
| Notification requirements for class 2 and 3 transactions | LR 10.3, LR 10.4 | |
| 4.1 Exemption letters | LR 3.3.2(c) | |
| Tranche fee payment system | Process | |
| Medium term note issuance | Process | |
| How to become an eligible employee | LR 8.6 | |
| Sponsor independence | LR 8.3.7 | |
| Non qualifying investments (NQIs) held in venture capital trusts (VCTs) | LR 16.2.3 | |
| Changes for property companies | LR 10.7, PR 1.1.8, PR | |
| Historical financial information on a guarantor in a non equity prospectus | 5.5.3 | |
| Requirement to disclose cashflow - retail debt | PD Annex 1V 13.1 | |
| Transactions by persons discharging managerial responsibilities and their connected persons | DTR 3.1.8R | |
| Dealing on own account | DTR 3.1.2 | |
| Identifying UKLA representatives | ||
| Loss numbers in class tests | LR10 Annex 1 | |
| Working capital statement in prospectus for investment entity/VCT | LR6.1.16, PR Annex 3 | |
| 100,000 Euro exemption | S86(1)(e) FISMA | |
| Sponsor independence - what is meant by 'significant interest' in debt securities | LR 8.3.6(1) | |
| Shares in public hands held outside EEA | LR 6.1.19 | |
| Amendment to LR 9.3.7 - proxy forms for re-election of retiring directors | LR 9.3.7 |
| Date | Articles | Rule |
|---|---|---|
| Feb 06 Issue 12 |
Underwriting rights issues | |
| Incorporation by reference | PR 2.4 | |
| Directors' indemnities | LR 11, Annex 1R | |
| Application of the disclosure rules | ||
| Fees | LR Appendix 2 | |
| Block listing returns | LR 3 | |
| Creation and maintenance of records | LR 8.6.12G(5) | |
| Alterations to investment management fees | LR 11 | |
| VCTs and co-investments by investment managers' employees | LR 11 | |
| Share buy-back programmes - Market abuse 'safe harbour' | DTR | |
| Definition of ordinary business | LR 9.6 | |
| Insider lists and persons acting on an issuer's behalf | DTR 2.8 | |
| Short names | ||
| Turnbull guidance on internal controls | LR 9.8.6 | |
| Alternative performance measures | ||
| Passporting issues of interest | PR 2.2.9 | |
| Definition of home member states under the PD | ||
| Advertisement regime | PR 2.3; PR 3.3 | |
| Errata | LR 9.1.2; LR 9.3.4 LR Definitions |
|
| March 06 Issue 12 Supplementary Edition |
Working capital statements in limited access acquisitions | |
| Related party transactions | ||
| Sept 06 Issue 13 |
Reverse takeover requirements – approach to suspensions | LR 5 |
| Class tests – figures used to classify assets and profits | LR 10, Annex 1 | |
| Timing on helpdesk queries | ||
| Submission of written helpdesk queries | ||
| Timing of supplementary prospectuses | ||
| Application of profits test to disposals or acquisitions of minority interests | ||
| Multiple break fees | LR 10.2.7 | |
| Vetting of schemes of arrangement documents | ||
| Central Debt Desk timetables and training seminars | ||
| Convertible bond issuers and purchase of own securities | LR 12.5.1 | |
| Financial information required for guarantors of debt issues | ||
| Electronic transfer of UKLA fee payments | ||
| Cancellation of listing in relation to a takeover offer | LR 5.2.10 | |
| Sponsor independence and sponsor confirmation of independence | LR 8.3.6; LR8.7.12 | |
| Mineral expert's reports | LR 13.4.6; LR 13.4.7 | |
| Transactions with sponsors who are part of the investment manager's group | LR 11.1.7; LR 11.1.10 | |
| Annual information update | PR 5.2 | |
| Contents of half-yearly report and preliminary statement of annual results | LR 9.9.8; LR 9.7.2 | |
| Incorrect new issue and corporate action details sent to CREST for input | ||
| Consultation paper (CP06/4) | ||
| CESR market survey | ||
| Financial promotions | ||
| Statement of principles on the disapplication of pre-emption rights and Pre-emption statement 1 & 2 | ||
| Dec 06 Issue 14 |
Transparency Directive | |
| Apr 07 Issue 14 updated |
Transparency Directive | |
| April 07 Issue 15 |
Market User Survey | |
| July 07 Issue 16 |
Reverse takeovers: scenarios covered by the working capital statement | |
| Disclosure requirements in limited access situations | ||
| 28 day circulars in hostile takeover situations | LR13.4.3 | |
| Prospectus drafting issues | ||
| Financial information in 'listed for listed' circulars | ||
| Helpdesk submissions using email | ||
| Submissions using our Electronic Submission System | ||
| Information sheet | ||
| How do I approach a working capital statement in a combined class 1 circular and prospectus? | ||
| Interpretation of the disclosure requirements under Annex 1 16.2 | ||
| Does the share purchase agreement in a class 1 circular need to go on display? | ||
| PD Article 4.2(g) – convertible exemption | ||
| Articles containing restrictions on transfer | LR2.2.4 | |
| Articles containing compulsory acquisition provisions | ||
| Reclassified shares in an investment trust wind up/rollover | ||
| Common questions on REITS | ||
| Targets/forecasts being construed as profit forecasts | ||
| Retail debt cascades | ||
| GDR eligibility letters | LR18 | |
| Summaries in non-equity prospectuses | PR2.1.4-2.1.7 | |
| UKLA payment form | ||
| Increases to the size of a previously approved debt issuance programme | LR3.4.7(1) | |
| Early redemption of securities | ||
| Comfort letters for schemes of arrangement | ||
| Subdivision or consolidation | PR1.2.2(1); PR1.2.3(2) | |
| Fees | ||
| UKLA Sponsor Form | ||
| Sponsor standard comments | ||
| Insider lists and project lists | DTR 2.8.1 | |
| Persons discharging managing responsibilities | ||
| Timing of results announcements | ||
| Internal results briefings | DTR 2.5 | |
| Market expectations | ||
| Trading statements | DTR 2.2 | |
| Equivalence of third country accounting standards | ||
| PD Article 4(1)(d) – securities allotted free of charge |
| Date | Articles | Rule |
|---|---|---|
| Nov 07 Issue 17 |
September 2007 changes and future developments | LR15; LR16 |
| Introducing the new rules | ||
| Background | LR15 | |
| Differences between the old and the new regimes | LR15; LR16 | |
| Summary of key changes | LR15.2.9; LR15.2.10; LR15.2.6; LR 15.2.2; LR15.2.2(3)(old)/LR15.2.3; LR15.5.1; LR15.6.3-4; | |
| Investment Policies | LR15.2.7-8 | |
| Publication arrangements | LR15; LR15.2.7; PR Item 1.1 Annex XV | |
| Assessing the materiality of changes | ||
| Contents of the policy | LR15; 2.8G | |
| Secondary Listings | LR14; LR15 | |
| Open-ended funds | LR16 | |
| Gaining admission to the Official List | LR4; LR16 | |
| Working Capital statements | ||
| Venture capital trusts | LR15; LR Transitional Rule 2/3/4 | |
| Migration from secondary to primary listing | LR6; LR 14; LR15; LR 16 | |
| Shareholder approval | ||
| Unusual voting structures | ||
| Acquiring assets during investment trust rollovers | LR15.5.2 | |
| Treatment of securities lending/borrowing | LR15.2.12 | |
| Securities lending | ||
| Securities borrowing | ||
| Single-tenanted property funds | LR15; LR 15.2.2 | |
| Frequently asked questions (eligibility) | ||
| Eligibility letters | ||
| Transfer from AIM to the Official List | ||
| Scientific research based companies | LR6.1.12; LR 6.1.7 | |
| Listing on the back of a passported prospectus | ||
| Electronic communications to shareholders | LR1.4.9; DTR 6.1.8; Companies Act 2006 Schedule 5 | |
| Shares in Public Hands | LR6.1.19; LR5.2.1; LR5.2.2(2); Art. 18(2) CARD |
| Date | Articles | Rule |
|---|---|---|
| March 08 Issue 18 |
Transaction Issues | LR15; LR16 |
Listing transactions approach to high risk transactions |
Part VI FSMA; Proceeds of Crime Act 2002 |
|
Significant Transaction fees – One year on |
CP07/03 |
|
Sponsor Supervision: CP08/5 "sponsor Regime – a targeted review" |
DP08/5; DP/08/1; LR 8; LR 8.2; LR 8.3;LR 8.3.1(1)-(2); LR 8.4.5-6; LR 8.6.5-7; LR 8.6.14; LR 8.7.7; LR 8.6.15; LR 8.7.7(2); LR 8.7.22(3); LR8.7.24 |
|
| Equity | ||
Do the associate rules in LR11 apply to interests in a partnership held by a related party? |
LR 11; LR 11.1.5(3) |
|
How does the UKLA approach LR 6.1.19(4(e) in relation to shareholdings held by Corporate Shareholders such as fund managers? |
LR 6.1.19(4(e) |
|
The requirement for a 3 year track record under LR6.1.4 |
LR 6.1.4; LR 6.1.4(1); LR 6.1.3(1): LR 6.1.3(1)(a): LR 6.1.5 |
|
To what standard should "stub" prepared in order to ensure the issuer complies with LR 6.1.3(1)(b) be prepared? |
LR 6.1.3(1)(b); IAS 34; |
|
What about circumstances where an issuer is preparing a prospectus and, in order to comply with Annex 1, 20.1, is required to audit a period of less than one year? |
PR Annex 1 20.1; IAS 34 |
|
Enlarged group working capital statements for reverse takeovers |
LR 10.6.2 |
|
Rescues, Refinancing and Reconstructions |
LR 9.5.12; LR 13.3; LR 13.3.1(1)/(3); PR A3 3.1 |
|
Reverse takeovers of targets listed on other exchanges |
LR 10.6.3 |
|
| PD Issues | ||
CESR FAQs on information included in Final Terms, SPs or Securities Note |
PD Regs Article 22.2; PD Article 16 |
|
Requests for transfers to another Competent Authority made under PR3.1.12 |
PR 3.1.12; PR 3.1.12(2)(a); PR 3.1.12(2)(c) |
|
| Listing Applications | ||
Letters relating to amendments to the Official List resulting from reclassifications and redenominations |
|
|
Important – new forms |
|
|
Conditions on using the streamlined approach to the listing of debt tranches |
LR 3.4.4; LR 3.4.8 |
|
| Disclosure and Transparency | ||
Half-yearly financial reports |
DTR 4; DTR 4.2.7(2); DTR 4.2.10; DTR 6; DTR 6.3.2-5 |
|
Preliminary results announcements |
LR 9.7A.1; IAS 34; List! 14 |
|
Clarifying the close periods for issuers that report on a quarterly basis |
Annex to LR 9; |
|
Requirement for GDR issuers to comply with DTR5 |
DTR 5; TD Article 9(1); LR 18.4.7; LR 14.3.23; LR 18.4.3(2); LR 14.3: DP 08/1 |
|
Continuing obligations- pure debt issuers |
DTR 2 |
|
Administration |
|
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Use of the Electronic Submission System (ELS) for final documents |
|
|
Passporting out- new "Template Passport Request Letter" for issuers |
|
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Copies of prospectuses and other approved documents and the Document Viewing Facility |
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