LR TR 16 Transitional Provisions in relation to market capitalisation under LR 2.2.7 R(1)

1.

LR 2.2.7 R(1)

R

These transitional provisions apply to an applicant for the admission of shares:

3 December 2021

Indefinite

3 December 2021

(a)

that has made a complete submission to the FCA for an eligibility review for listing by 4:00pm on 2 December 2021;

(b)

whose submission for an eligibility review for listing has not been withdrawn or lapsed;

(c)

that makes an application for listing in accordance with LR 3 on or before 2 June 2023; and

(d)

whose overall business proposition has not materially changed between its submission in (a) and when it applies for listing in (c).

[Note: guidance on submissions for an eligibility review for listing can be accessed on the FCA’s Knowledge Base at https://www.fca.org.uk/markets/ primary-markets/knowledge-base.]

2.

LR 2.2.7 R(1)

R

The expected aggregate market value of all shares (excluding treasury shares) to be listed must be at least £700,000.

3 December 2021

Indefinite

3 December 2021

1.

LR 2.2.7 R(1)

R

These transitional provisions apply to a shell company:

3 December 2021

Indefinite

3 December 2021

(a)

that had a listing of shares or certificates representing equity securities immediately before 3 December 2021; and

3 December 2021

Indefinite

3 December 2021

(b)

that makes complete submissions to the FCA for an eligibility review for listing and a prospectus review in relation to its proposed application for listing in accordance with LR 5.6.21R by 4:00pm on 1 December 2023; and

(c)

whose submissions for an eligibility review for listing and a prospectus review have not been withdrawn or lapsed.

[Note: guidance on submissions for an eligibility review for listing and a prospectus review can be accessed on the FCA’s Knowledge Base at https://www.fca.org.uk/markets/ primary-markets/knowledge-base.]

2.

LR 2.2.7 R(1)

R

The expected aggregate market value of all shares (excluding treasury shares) to be listed must be at least £700,000.

3 December 2021

Indefinite

3 December 2021

1.

LR 2.2.7 R(1)

R

These transitional provisions apply to an issuer (except a closed-ended investment fund or an open-ended investment company) that:

3 December 2021

Indefinite

3 December 2021

(a)

had at least one class of listed shares immediately before 3 December 2021;

(b)

continues to have at least one class of listed shares; and

(c)

is applying for another class of shares to be listed.

2.

LR 2.2.7 R(1)

R

The expected aggregate market value of all shares (excluding treasury shares) to be listed must be at least £700,000.

3 December 2021

Indefinite

3 December 2021