UKLR TP 10 Transitional provisions in relation to market capitalisation under UKLR 3.2.7R(1)

1.

UKLR 3.2.7R(1)

R

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

Indefinitely

29 July 2024

(1)

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

(2)

whose submission for an eligibility review for listing has not been withdrawn or lapsed;

(3)

that made an application for listing in accordance with chapter 3 of the Listing Rules sourcebook on or before 2 June 2023; and

(4)

whose overall business proposition had not materially changed between its submission in (1) and when it applied for listing in (3).

[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.

UKLR 3.2.7R(1)

R

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

Indefinitely

29 July 2024

1.

UKLR 3.2.7R(1)

R

These transitional provisions apply to a shell company:

Indefinitely

29 July 2024

(1)

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

(2)

that made 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 rule 5.6.21 of the Listing Rules sourcebook by 4pm on 1 December 2023; and

(3)

whose submissions for an eligibility review for listing and a prospectus review have not been withdrawn or lapsed.

[Note: [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.

UKLR 3.2.7R(1)

R

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

Indefinitely

29 July 2024

1.

UKLR 3.2.7R(1)

R

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

Indefinitely

29 July 2024

(1)

had at least 1 class of listed shares immediately before 3 December 2021;

(2)

continues to have at least 1 class of listed shares; and

(3)

is applying for another class of shares to be listed.

2.

UKLR 3.2.7R(1)

R

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

Indefinitely

29 July 2024