Listing Regime and Obligations

Listing Regime and Obligations

Eligibility

The key eligibility criteria for investment funds floating on the Specialist Fund Segment are outlined in the table below.

Eligibility criteria Closed ended funds

 

Closed ended funds

 

Transferable securities to be freely negotiable

Yes

 

Production of a prospectus for approval by the FCA 

Yes (Annex 4 and 11 of the UK Prospectus Regulation)

Audited historical financial   information

3 years*

London Stock Exchange Admission and Disclosure

Standards

Apply

Eligible for electronic settlement

Yes

Sponsor

Not required

*or such shorter period the entity has been in operation

 

Continuing obligations 

This list is not exhaustive and should be read in conjunction with London Stock Exchange's Admission & Disclosure Standards and the FCA Handbook (Prospectus Rules and Disclosure & Transparency Rules).

Continuing Obligations

Closed ended funds

 

Sponsor for certain transactions

Not required

 

Annual financial report

Yes (4 months after the

end of FY)

 

Half-yearly financial report

Yes (3 months after the

end of the period)

 

Interim Management Statements

Yes

 

Publication of inside information as soon as

possible

Yes

 

Drawing up and maintaining an Insider   List

Yes

 

Major shareholder notification regime   applies

Yes

 

Annual Information Update

Yes

 

PDMR disclosures

Yes

 

Pre-emption rights As per relevant

company law

Prospectus/document for further issues

(>20% shares of same class admitted to

trading)

 

Yes

This list is not exhaustive and should be read in conjunction with London Stock Exchange's Admission & Disclosure Standards and the FCA Handbook (Prospectus Rules and Disclosure & Transparency Rules).