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You are viewing the version of the document as on 2023-04-28.

LR 3.5 Block listing1

Application

LR 3.5.1RRP

This section applies to an applicant that wishes to apply for admission of securities using a block listing.1

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When a block listing 1can be used

LR 3.5.2GRP
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1If the process of applying for admission of securities is likely to be very onerous due to the frequent or irregular nature of allotments and if no prospectus or listing particulars are required for the securities, an applicant may apply for a block listing of a specified number of the securities.

LR 3.5.3GRP

The grant of a block listing constitutes admission to listing for the securities that are the subject of the block. Separately, the provisions of article 1(4) of the Prospectus Regulation2 will need to be considered by the applicant when the securities that are the subject of the block listing are being issued.

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LR 3.5.4RRP

1An applicant applying for admission to listing by way of a block listing must submit in final form, at least two business days before the FCA is to consider the application, a completed Application for Admission of Securities to the Official List. An application in respect of multiple schemes must identify the schemes but need not set out separate block listing amounts for each scheme.

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Note: The Application for Admission of Securities to the Official List form can be found on the Primary Markets3 section of the FCA 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 FCA 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.

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Note: A copy of the Block Listing Six Monthly Return can be found on the Primary Markets3 section of the FCA website.

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LR 3.5.7GRP

An issuer that wishes to synchronise block listing six monthly returns for a number of block listing facilities may do so by providing the return required by LR 3.5.6 R earlier than required to move the timing of returns onto a different six monthly cycle. An issuer with multiple block listing facilities should ensure that allotments under each facility are separately stated.