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Listing Eligibility Requirements - Coggle Diagram
Listing Eligibility Requirements
Transferability of shares
Premium listing
Shares must be fully paid and freely transferable
Standard listing
Shares must be fully paid and freely transferable
Market capitalisation on listing
Premium listing
Expected minimum market capitalisation of £700,000
Standard listing
Expected minimum market capitalisation of £700,000
Prospectus or listing particulars required
Premium listing
Prospectus or listing particulars required for admissions, must be approved by the FCA
Standard listing
Prospectus or listing particulars required for admission, must be approved by the FCA
Financial information to be provided in prospectus/listing document
Premium listing
Must have published/filed accounts that cover at least the last 3 years ending no more than 6 months before the date of the prospectus & independently audited and reported on by the auditors without modification
Standard listing
Audited information covering the last 3 financial years and audit report for each year must be disclosed
Trading record requirement
Premium listing
At least 75% of the issuers business must be supported by a historic revenue earning record covering the period for which the audited accounts are required
Standard listing
No trading record requirement
Independent business requirement
Premium listing
The issuer must carry on an independent business as its main activity
Standard listing
A listed company must carry on an independent business at all times
Controlling shareholder
Premium listing
An issuer with a controlling shareholder must demonstrate that it can carry on an independent business as its main activity and must have a controlling shareholder agreement in place
Standard listing
An issuer with a controlling shareholder must demonstrate that it can carry on an independent business as its main activity and must have a controlling shareholder agreement in place
Control of business
Premium listing
The issuer must demonstrate that it exercise operational control over the business it carries on as its main activity
Standard listing
The issuer must demonstrate that it exercises operational control over the business it carries on as its main activity
Working capital statement
Premium listing
Clean working capital statement required
Standard listing
Working capital statement required
Constittuion to provide for pre-emption rights on new issues of shares
Premium listing
Shareholders must have pre emption rights
Standard listing
No pre emption rights requirement
Free float requirement
Premium listing
25% minimum free float for each class of shares
Standard listing
25% minimum free float of each class of shares
Adviser requirement
Premium listing
Sponsor required
Standard listing