Letter from issuer to PDMR—continuing obligations under Article 19 Market Abuse Regulation

Published by a LexisNexis Corporate expert
Precedents

Letter from issuer to PDMR—continuing obligations under Article 19 Market Abuse Regulation

Published by a LexisNexis Corporate expert

Precedents
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[On headed notepaper of issuer]

Strictly private and confidential

To: [insert name of the person discharging managerial responsibility]

[insert address of the person discharging managerial responsibility]

Date: [insert date]

Dear [insert PDMR name],

Notification of transaction in the Shares or other debt or financial instruments of [full name of company] (the Company)

In connection with your obligation under Article 19(1) of the UK Market Abuse Regulation (the Regulation), you are required, as a PDMR of the Company, to notify the Company and the Financial Conduct Authority (FCA) of every transaction conducted on your own account relating to shares (or debt instruments) of the Company (or in derivatives or other financial instruments relating to those shares, eg options or debt instruments) above the amount of €5,000 per calendar year.

Where you have provided an instruction, consented to or you have otherwise had any control over the transaction, the transaction will be considered as an ‘on own account transaction’, and under Article 19 of the Regulation, a transaction will be notifiable where (amongst others) it involves an acquisition

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Jurisdiction(s):
United Kingdom
Key definition:
Continuing obligations definition
What does Continuing obligations mean?

The ongoing rules and requirements that a company must follow once admitted to listing on the Official List set out in Chapter 9 of the Listing Rules. Some of these continuing obligations derive from the Market Abuse Regulation and the Disclosure Guidance and Transparency Rules (DTR).

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