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  1. Point in time
    2006-07-07

LR 3.5 Block listing and formal application

Application

LR 3.5.1RRP

This section applies to an applicant that wishes to apply for admission of securities using:

  1. (1)

    a block listing; or

  2. (2)

    a formal application.

When a block listing or a formal application can be used

LR 3.5.2GRP

If an applicant issues securities on a regular basis and in circumstances which do not require the production of a prospectus or listing particulars:

  1. (1)

    the applicant may make an application for a specified number of securities which may be issued in a particular case ("a block listing"); or

  2. (2)

    the applicant may adopt a simplified application procedure for each issue ("a formal application").

LR 3.5.3GRP

The grant of a block listing constitutes admission to listing for the securities that are the subject of the block. An applicant therefore needs to take this into consideration when applying for admission of further securities in order to ensure compliance with its obligations under PR 1.2.3 R (1). Separately, the provisions of PR 1.2.2 R will need to be considered by the applicant when the securities that are the subject of the block listing are being issued.

Block listing

LR 3.5.4RRP

An applicant applying for admission to listing by way of a block listing must submit in final form the following items at least two business days before the FSA is to consider each application for admission:

  1. (1)

    a completed Application for Admission of Securities to the Official List; and

  2. (2)

    the item set out in LR 3.3.2 R (2)(c).

Note: The Application for Admission of Securities to the Official List form can be found on the UKLA section of the FSA website.

LR 3.5.5RRP
  1. (1)

    An applicant applying for admission to listing by way of a block listing must notify an RIS of the number and type of securities that are the subject of the block listing application and the circumstances of their issue.

  2. (2)

    The notification in paragraph (1) must be made by 9 a.m. on the day the FSA is to consider the application.

LR 3.5.6RRP

Every six months the applicant must notify a RIS of the details of the number of securities covered by the block listing which have been allotted in the previous six months, using the Block Listing Six Monthly Return. A copy of the notification must also be lodged with the FSA.

Formal application

LR 3.5.7GRP

An applicant applying for admission to listing by way of a formal application must submit, at least two business days before the consideration of each application for admission to listing:

  1. (1)

    all the items set out in LR 3.5.4 R; and

  2. (2)

    the item set out in LR 3.3.2 R (5).

LR 3.5.8R

LR 3.5.5 R applies to an applicant applying for admission to listing by way of a formal application.