M&A Weekly Update: public register of individuals with significant control over companies — details available; and more
Public register of individuals with significant control over companies — details now available
The Small Business, Enterprise and Employment Bill has now been published. The bill covers a number of company law changes, heralded in the government’s responses in April on transparency and trust and the red-tape challenge.
Details are now available on proposals to amend the Companies Act 2006 to require companies (other than those within DTR5) to keep a public register of individuals with ‘significant control’ over the company. The test for ‘significant control’ is met if an individual, either alone or with others, meets one or more conditions. The conditions broadly are that the individual: holds more than 25 per cent of a company’s shares or voting rights (either directly or indirectly); can appoint or remove the majority of the board; or has the right to, or does, exercise significant influence or control over the company. Equivalence provisions govern entities that do not have shares…
Click on the link below to read the rest of the Macfarlanes briefing.
News from The Lawyer
Briefings from Macfarlanes
M&A Weekly Update: forced sale of shares does not qualify as ‘an offer to the public’ requiring publication of prospectus; and more
Macfarlanes has released its M&A Weekly Update for the period 27 June to 3 July 2014.
Investment Management Update — 4 July 2014: FCA Handbook Notice 13; ESMA updates Q&As on AIFMD; and more
Macfarlanes has released the 4 July 2014 issue of its Investment Management Update.
Analysis from The Lawyer
As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.
Footie and telecoms dominate our regular round-up of recent M&A activity, as the threat of rising interest rates kick-started activity among organisations.