Welcome to the May edition of our biannual PLC Update, aimed at directors and in-house counsel of listed companies, nomads/brokers and sponsors, and other interested corporate finance professionals and intermediaries.
The last six months have been an interesting period for public companies. This PLC Update contains:
- An introduction to the new regime of reporting and approving directors' remuneration as proposed in the Enterprise and Regulatory Reform Bill. This will come into force on 1 October 2013 and apply to Main Market but not AIM listed companies. Click here for article
- An update on the High Growth Segment of the Main Market of the London Stock Exchange, which was launched on 27 March 2013. Click here for article
- A summary of the amendments to the Quoted Companies Alliance's Corporate Governance Code for Small and Mid-sized Quoted Companies, which was published on 1 May 2013. Click here for article
- A review of the new guidance on financial reporting procedures applicable to IPOs, to be implemented by the Institute of Chartered Accountants for England and Wales on 1 September 2013. Click here for article
The 2013 Budget also highlighted a significant move by the government with regard to the proposed abolition of stamp taxes on the transfer of shares in companies quoted on growth markets such as AIM. This change is expected to apply from 6 April 2014. Meanwhile, the London Stock Exchange continues to lobby to enable AIM shares to be included in an ISA wrapper.
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.
