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ARTICLE · 19 MAY 2016

Template Resolutions For Disapplication Of Pre-Emption Rights

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The Pre-Emption Group, representing listed companies, investors and intermediaries, updated its Statement of Principles for the disapplication of pre-emption rights in 2015.

United KingdomCorporate/Commercial Law
Jonathan Brooks
Jonathan Brooks

The Pre-Emption Group, representing listed companies, investors and intermediaries, updated its Statement of Principles for the disapplication of pre-emption rights in 2015. The principles relate to issues of equity securities for cash, other than pro-rata to existing shareholders, by companies with shares admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the main market of the London Stock Exchange.

The revised principles gave more flexibility to premium listed companies seeking authority at their annual general meeting to make non-pre-emptive share issues, indicating investors are unlikely to object to an annual disapplication of pre-emption rights of:

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