The Listing Rules are published by the “United Kingdom Listing Authority”. They contain the listing rules made under Section 74 of the Financial Services and Markets Act 2000 and lay down minimum requirements for the admission of securities to listing, the content, scrutiny and publication of prospectuses and listing particulars, and the continuing obligations of [...]

In respect of the “City Code”, a bid required under Rule 9, basically where: the bidder and any persons acting in concert acquire shares carrying 30% or more of the voting rights of a target; or if a bidder, together with any concert parties, holding not less than 30% but not more than 50% of [...]

Established in 1990 as a subsidiary of the “Financial Reporting Council“, the panel seeks to ensure that the provision of financial information by public and large private companies complies with relevant accounting requirements.
www.frc.org.uk
 

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The Financial Reporting Council (“FRC”) is the regulatory body which sets, monitors and enforces accounting and auditing standards; oversees regulatory activities of the professional accountancy bodies and regulates audits; and promotes high standards of corporate governance.
 
Its subsidiaries include “the Accounting Standards Board” and the “Financial Reporting Review Panel”.
 
www.frc.org.uk
 
 
 

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The code is issued by the “Panel” and operated principally to ensure fair and equal treatment of all shareholders in relation to take-overs, and also to provide an orderly framework within which take-overs are conducted.
The Code itself and the de facto authority of the “Panel“ are recognised by the Courts with the “Panel” being subject [...]

For the purpose of the “Listing Rules“, admission means admission of securities to the “Official List of the United Kingdom Listing Authority“, and, for the purpose of the “AIM Rules“, admission means admission od securities to trading on AIM.

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In the definition of the City Code  persons acting in concert are persons who, pursuant to an agreement or understanding (formal or informal) actively cooperate through the acquisition by and of them of shares in a company, in order to obtain or consolidate control of that company.
The City Code presumes that, unless otherwise proven, certain categories of [...]