Capital Markets Practice: News Round Up Issue 3/2015

    View Author March 2015
    Welcome to the latest in our series of regular alerts containing a round-up of news from our Capital Markets Practice.

    The topics covered in this issue are:

    • Takeovers: Schemes of Arrangement and Stamp Duty - The Companies Act has been amended to prevent the use of share cancellations by target companies in takeovers conducted using schemes of arrangement.  
    • Pre-Emption Rights: Revised Pre-Emption Group Statement of Principles - The Pre-Emption Group has published a revised statement of principles for the disapplication of pre-emption rights. The statement of principles is intended to provide guidance to companies and shareholders on the factors to take into account when considering whether to disapply pre-emption rights and is supported by NAPF and the Investment Association.
    • Financial Regulation: Social Media and Financial Promotions - The FCA has published a Guidance Note on financial promotions in social media. The FCA reminds companies that any form of communication is capable of being a financial promotion if it includes an invitation or inducement to engage in financial activity.