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ARTICLE · 03 MARCH 2009

Capital Markets Update - February 2009

Jones Day
Jones Day
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In November 2008, the Treasury published 'A Report to the Chancellor of the Exchequer: by the Rights Issue Review Group' which proposed a series of far-reaching reforms to the rights issue process. Rights issues in the UK currently take at least 39 days, but if the proposals in the report are implemented this would fall almost immediately to 32 days, and for many issues to 16 days.

United KingdomFinance and Banking
Giles Elliott
Giles Elliott
Andrew Chen
Andrew Chen
Vica Irani
Vica Irani
Sebastian Orton
Sebastian Orton
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Contents

  • Rights issue process to be streamlined following a report by the Rights Issue Review Group
  • New Shareholder Rights Directive: Clarification from BERR re notice for General Meetings
  • Proposed new AIM Rules for Investing Companies
  • The FSA amends the Disclosure and Transparency Rules to permit delay in disclosing liquidity support
  • FSA clarifies disclosure obligations when granting security over shares
  • Public censure of Minmet plc for repeated breaches of the AIM Rules for Companies and private investor fined for market abuse

Rights issue process to be streamlined following a report by the Rights Issue Review Group

In November 2008, the Treasury published 'A Report to the Chancellor of the Exchequer: by the Rights Issue Review Group' which proposed a series of far-reaching reforms to the rights issue process. Rights issues in the UK currently take at least 39 days, but if the proposals in the report are implemented this would fall almost

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