Related provisions for LR 9.2.12

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LR 7.2.1RRP

The Listing Principles are as follows:

Principle 1

A listed company must take reasonable steps to enable its directors to understand their responsibilities and obligations as directors.

Principle 2

A listed company must take reasonable steps to establish and maintain adequate procedures, systems and controls to enable it to comply with its obligations.

Principle 3

A listed company must act with integrity towards holders and potential holders of its listedequity securities.

Principle 4

A listed company must communicate information to holders and potential holders of its listedequity securities in such a way as to avoid the creation or continuation of a false market in such listedequity securities.

Principle 5

A listed company must ensure that it treats all holders of the same class of its listedequity securities that are in the same position equally in respect of the rights attaching to such listedequity securities.

Principle 6

A listed company must deal with the FSA in an open and co-operative manner.
LR 7.2.2GRP
Principle 2 is intended to ensure that listed companies have adequate procedures, systems and controls to enable them to comply with their obligations under the listing rules and disclosure rules and transparency rules. In particular, the FSA considers that listed companies should place particular emphasis on ensuring that they have adequate procedures, systems and controls in relation to:(1) identifying whether any obligations arise under LR 10 (Significant transactions) and
LR 7.1.1RRP
1The Listing Principles apply to every listed company with a primary listing of equity securities in respect of all its obligations arising from the listing rules and the disclosure rules and transparency rules.
LR 7.1.2GRP
The purpose of the Listing Principles is to ensure that listed companies pay due regard to the fundamental role they play in maintaining market confidence and ensuring fair and orderly markets.
LR 7.1.3GRP
The Listing Principles are designed to assist listed companies in identifying their obligations and responsibilities under the listing rules and the disclosure rules and transparency rules. The Listing Principles should be interpreted together with relevant rules and guidance which underpin the Listing Principles.
LR 9.6.1RRP
A listed company must forward to the FSA for publication through the document viewing facility, two copies of all circulars, notices, reports or other documents to which the listingrules apply at the same time as they are issued.
LR 1.4.2RRP
If a listing rule refers to a requirement in legislation applicable to a listed company incorporated in the United Kingdom, a listed overseas company must comply with the requirement so far as:(1) information available to it enables it to do so; and(2) compliance is not contrary to the law in its country of incorporation.
LR 8.5.1RRP
A listed company or applicant must inform the FSA promptly of the name and contact details of asponsor appointed in accordance with the listing rules.
LR App 2.1.1RRP

Fee type

Fee amount

Annual fees for the period 1 April 2005 to 31 March 2006

Annual Issuer Fees - all listedissuers of shares, depositary receipts and securitised derivatives.

This fee represents the total annual fee for a listedissuer - no additional annual fee is due under the disclosure rules.

(1) For all issuers of securitised derivatives, depositary receipts and global depositary receipts the fees payable are set out in Table 1.

(2) For all other issuers fees to be determined according to market capitalisation as set out in Table 2. The fee is calculated as follows:

  • the relevant minimum fee; plus
  • the cumulative total of the sums payable for each of the bands calculated by multiplying each relevant tranche of the firm's market capitalisation by the rate indicated for that tranche.

(3) Notwithstanding (2), overseasissuers with a listing of equity securities which is not a primary listing will only pay 80% of the fee otherwise payable under (2).

Annual Sponsor Fees

£10,000

Annual fees are charged in annual cycles beginning on 1 April of a year and ending on 31 March of the following year. An issuer or sponsor which becomes subject to the listing rules during the course of the financial year must pay a proportion of the annual fee which is calculated in accordance with the following Table 3.

Table 1

Annual fees for issuers of securitised derivatives, depositary receipts and global depositary receipts

Issuer

Fee amount

Issuers of securitised derivatives

£3,000

Issuers of depositary receipts and global depositary receipts

£3,600

Table 2

Tiered annual fees for all other issuers

Fee payable

Minimum fee (£)

3,000

£ million of Market Capitalisation

Fee (£/£m or part £m of Market Capitalisation)

0 - 100

0

>100 - 250

11.81

>250 - 1,000

4.72

>1,000 - 5,000

1.57

>5,000 - 25,000

0.0295

>25,000

0.0079

Table 3

Quarter in which the issuer/sponsor becomes subject to the Listing Rules

Proportion payable

1 July to 30 September inclusive

75%

1 October to 31 December inclusive

50%

1 January to 31 March inclusive

25%

Annex 2

Fee type

Fee amount

Transaction vetting fees for the period 1 July 2005 to 31 March 2006

Transaction vetting fees relate to specific events or transactions that an issuer might be involved in during the year and fall due when documentation is first submitted to the FSA.

Eligibility

New applicants

£1,300

Category 1

Class 1 transactions

£5,700

Category 2

Listing particulars for specialist securityissuers (including depositary receipts)

£2,500

Category 3

All other vetting only transactions

£2,500

Category 4

Supplementary listing particulars

£500

Annex 3

Part 1

Fee type

Fee amount

Application Fees for the period 1 July 2005 to 31 March 2006

Application for listing

An application fee becomes payable when an issuer makes an application for listing.

£225

Tranches from debt issuance programmes and securitised derivative tranches

£100

An upfront fee is required per tranche for draw downs in the following 12 months. Payment in advance for more than 75 draw downs will attract a 10% discount.

Part 2

Sponsor Application Fees for the period 1 July 2005 to 31 March 2006

Fee type

Fee amount

Application for approval as sponsor

An application fee becomes payable when a person applies for approval as a sponsor.

£4,000

Fees from other fee schedules contained in other sections of the sourcebook may be applicable to a single submission.