Following the announcement by the Channel Islands Stock Exchange (CISX) on 14 October 2013 of a proposed restructuring of the exchange to improve its operation and an associated closure of the CISX to new business, on 16 October the CISX provided further details regarding the types of applications to list on the exchange being considered at present:

Existing Debt Issuers (Chapter VIII)

  1. Redemptions
  2. PIK/Further Notes under an abridged procedure
  3. PIK/Further Notes not under an abridged procedure
  4. Issues under existing approved Programmes
  5. New classes under existing Issuers

Existing Trading Companies (Chapter VI) and Existing Closed and Open Ended Funds (Chapter VII)

  1. Further issues of a listed share class in a listed Closed Ended Fund or Trading Company
  2. Further issues under an existing Extended Offer Period Facility for a listed Closed Ended Fund
  3. Applications for a new share class of an existing listed Open Ended Fund

New applications in respect of a new class/cell/sub-fund etc of an existing listed Closed Ended Fund which require a full listing application and applications for a new cell or sub-fund of an existing listed Open Ended Fund will be processed only in the CISX's sole discretion.

The 16 October announcement can be viewed here

The CISX has today issued a further update, confirming some capacity is now available for the consideration of new applications that are not complex or unusual, with a view to returning to 'business as usual' shortly.

The 18 October announcement can be viewed here

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.