Class 1 circular definition

View the related practice notes about Class 1 circular

Equity shares (commercial companies) listing category—key continuing obligations

Equity shares (commercial companies) listing category—key continuing obligations This Practice Note summarises the continuing obligations which apply to a company listed in the equity shares (commercial companies) listing category as set out in the UK Listing Rules (UKLR). It also considers the origin of the continuing obligations in the former Listing Rules and discusses the key changes compared to the previous premium listing regime in force prior to 29 July 2024. Continuing obligations for companies listed in the equity shares (commercial companies) listing category Summary of continuing obligations The table below contains a summary of the continuing obligations that apply to a company with equity shares listed in the equity shares (commercial companies) listing category together with the origin of the requirement in the former Listing Rules (in force prior to 29 July 2024). Continuing obligation UKLR provision Summary of UKLR requirements Origin in former Listing Rules (LR) Significant transactions UKLR 7 Disclosure-based regime for transactions outside the ordinary course of business at or above 25% in the class...

Continuing obligations—financial reporting

Continuing obligations—financial reporting STOP PRESS: A significant restructuring of the UK listing regime came into effect on 29 July 2024 which included the removal of the premium and standard listing segments and the creation of a single listing category for equity shares in commercial companies. The commercial companies category is heavily disclosure-based and sits alongside other listing categories such as the shell companies, secondary listing and closed ended investment fund categories.  A new UK Listing Rules sourcebook came into force to implement the changes and the previous Listing Rules sourcebook was revoked. For further information see Practice Note: Reform of the UK listing regime—fundamentals. This Practice Note reflects the listing regime prior to 29 July 2024. This Practice Note gives a general overview of the financial reporting obligations of a listed company as regards financial reporting under the Listing Rules and the Disclosure Guidance and Transparency Rules (DTR). These obligations are in addition to a company's general legal obligations as regards accounts and reports in its home jurisdiction. The reporting...