On 21 January 2011, the Stock Exchange released its Consultation Conclusions on proposals to change the minimum number of shareholders required on listing for a company satisfying the Market Capitalisation/Revenue test. Currently a listing applicant relying on the Market Capitalisation/Revenue test must have 1,000 shareholders compared with the 300 shareholders requirement for the other two eligibility tests. With effect from 1 February 2011, the number of shareholders required for all three tests will be 300.

A copy of the Consultation Conclusions can be found here and the revised Listing Rules can be found here.