The following Corporate practice note Produced in partnership with Louise Wolfson. provides comprehensive and up to date legal information covering:
An intention to float announcements (ITF) is generally the first announcement to the public by an issuer of its proposed initial public offer (IPO). Issuing an ITF is not a legal requirement but has become well-established market practice in the UK.
The ITF enables the issuer to notify the market about its proposed IPO and to provide information about the issuer’s business and strategy, as well as about the timing and rationale for the equity offering and listing, in advance of publication of the prospectus.
The UK listing, prospectus and market abuse regime may be affected by Brexit. For the purposes of this note, the main change relates to the amendment of deficiencies in retained EU law in these areas to ensure that it operates effectively after the implementation period if no future relationship agreement is in place. For further details of its impact see Practice Note: Brexit—UK listing and prospectus regime.
As the ITF is not a legal requirement, the level of detail which is included may vary. However, typically, an ITF includes the following:
summary information about the issuer and the offering
a quote from the chief executive
contact information for the issuer, the investment banks and public relations advisors
a description of the issuer and its strengths and strategies, as well as historical financial
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On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
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