Relevant % thresholds Flashcards
Application to court to cancel variation of share rights
15% of issued shares (must not have voted in favour initially)
Application to cancel RR02 - re-registration as private co (2)
5% of nominal value
or
not less than 50 members
Approval of merger 2 public cos
75% of those present at class meetings
Approval of scheme of arrangement
75% of members
or
75% of creditors, by value of claim
Level of acceptances required by offeror company to enable compulsory takeover
90%
Shareholding at what level in a listed company must be reported to the FCA?
3%, and every 1% thereafter
*also if shareholding falls from one threshold to another
Shareholding at what level will the rules of the City Code (requirement for takeover offer) apply?
30%
Standard minimum acceptances for public offer for it to become unconditional
75%
Criteria for takeover/merger to be referred to CMA
Resulting in 25% share of supply of goods or services
(or value of enterprise being taken over exceeds 70 mil)
Following takeover, at what level of shareholding do squeeze-out (and subsequently sell-out) provisions come into force?
90%
Governance code requires summary to be provided on how company has consulted shareholders when how many object to board reco for resolution?
20% of votes cast
Members requiring company to have audit
10% nominal value
Cap on non-audit fees taken by audit co?
70% of average over last 3 years
Members preventing deemed reappointment of auditor
5% voting rights
Amount of shares which need to be in public hands according to LR 6.14
25%
