The UKLA has published issue 20 of List! which has articles covering transaction issues, disclosure and transparency, EU shareholder Rights Directive, Policy Statement 08/12: Sponsor Regime: A targeted review, principles for sponsors and current market conditions for sponsors.  

On transaction issues there are articles covering:

  • Ratification circulars.
  • Global Debt Group’s Same Day Supplements.  

On disclosure and transparency there are articles covering:

  • Compliance with DTR 5.
  • FSA comments on disclosures around liquidity and going concern.  

On the EU shareholder Rights Directive, the UKLA covers the changes to the notice period for calling general meetings for UK listed companies (those listed on the FSA’s Official List), which is currently subject to a consultation by BERR as a result of the 3 August 2009 deadline for the implementation of the EU Shareholder Directive (2007/36/EC).  

On the sponsor regime there is a discussion of Policy Statement 08/12: Sponsor Regime: A targeted review. Here, the UKLA provides clarity for sponsor firms about the interaction between the annual confirmation and regular review, the new conflict requirements, and to highlight the risk that current market conditions may create for a sponsor when considering working capital statements and new business proposals.  

On Principles for sponsors, the FSA briefly sets out how to identify and manage conflicts.  

On current market conditions for sponsors there is a brief discussion regarding working capital. 

View LIST! Issue No. 20, (PDF 226KB), 23 January 2009