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UKLR 9.5 Purchase from a related party

UKLR 9.5.1R

1Where a purchase by a listed company of its own equity securities or preference shares is to be made from a related party, whether directly or through intermediaries, UKLR 8 (Related party transactions) must be complied with unless:

  1. (1)

    a tender offer is made to all holders of the class of securities; or

  2. (2)

    in the case of a market purchase pursuant to a general authority granted by shareholders, it is made without prior understanding, arrangement or agreement between the listed company and any related party.

UKLR 9.5.2R

1Where a purchase by a listed company of its own equity securities or preference shares is to be made from a related party which is a sovereign controlling shareholder or an associate of a sovereign controlling shareholder, the modifications to UKLR 8 (Equity shares (commercial companies: related party transactions) in UKLR 8.2.9R do not apply for the purposes of UKLR 9.5.1R.