Listed and public company issues—share and asset purchases
Listed and public company issues—share and asset purchases

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • Listed and public company issues—share and asset purchases
  • Main Market companies
  • Significant transactions (premium listed companies)
  • Class 1 transaction
  • Class 2 transaction
  • Reverse takeover (premium and standard listed companies)
  • Related party transactions under the LR (premium listed companies)
  • Related party transactions under the DTR (premium and standard listed companies)
  • Other considerations
  • AIM companies
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for Corporate lawyers?

This Practice Note outlines the issues that arise in a private M&A transaction (whether structured as a share purchase transaction or asset purchase transaction) where a party to the transaction is a company whose shares have a standard or premium listing on the Official List of the Financial Conduct Authority (FCA) and are admitted to trading on the main market for listed securities (Main Market), operated by the London Stock Exchange (LSE) or have their shares admitted to trading on AIM, a market operated by the LSE (AIM). It also covers issues common to all public companies, whether listed on a stock exchange or not.

In such circumstances, the buyer and/or seller may need to send an explanatory circular to its shareholders and gain their approval of the acquisition/disposal at a general meeting (such approval will become a condition to completion

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