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ARTICLE · 30 JANUARY 2014

Managing Changes In Material Interest In Maltese Listed Companies: A Survivor’s Guide

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Whilst the Maltese Companies Act (Chapter 386, Laws of Malta) (the "Act") provides the general legal framework for the creation and operation of public companies, listed companies are also subject to the Listing Rules (the "Listing Rules") issued by the Listing Authority in virtue of powers granted by Articles 11 and 13 of the Financial Markets Act (Cap.345 of the Laws of Malta).

MaltaFinance and Banking
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GVZH Advocates
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The Regulatory Landscape

Whilst the Maltese Companies Act (Chapter 386, Laws of Malta) (the "Act") provides the general legal framework for the creation and operation of public companies, listed companies are also subject to the Listing Rules (the "Listing Rules") issued by the Listing Authority in virtue of powers granted by Articles 11 and 13 of the Financial Markets Act (Cap.345 of the Laws of Malta).

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Substantial Shareholding

A 'Substantial Shareholding' is defined in the Listing Rules as the entitlement to exercise or control the exercise of ten percent (10%) or more of the votes able to be cast at general meetings or the entitlement to appoint a majority of Directors on the board of Directors of a listed company and the Listing Rules establish specific procedures to be observed in the course of an impending share negotiation or transaction involving a Substantial Shareholding.

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