From 01 February 2011, the much awaited change to the Market Capitalisation / Revenue test has been introduced. The Stock Exchange had previously announced, in its Consultation Conclusions, that it proposed to change the minimum number of shareholders that would be required to satisfy such test when seeking a listing and placing reliance on the Market Capitalisation / Revenue test.
The amendment brings the Market Capitalisation / Revenue test inline with the other two eligibility criteria by reducing the required number of shareholders from 1,000 to 300.
The Consultation Conclusions can be obtained here and a revised version of the Listing Rules found here.
For further information please contact Jeremy Orrell on 0844 391 5829.
