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The Company Share

Legal Regulation and Public Policy

David Milman

In this accessible and insightful book David Milman examines the phenomenon of the company share in an holistic way, tracing the origins of the share and describing the diversity present within the family of shares. Using a comparative approach, key chapters consider the circumstances under which shares are acquired, the property law perspective relevant to shares and the rights and obligations of those who hold shares. The book concludes with some speculation on how the share might evolve in the future in the light of technological change and the development of other capital raising investments.
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Appendix IV: Key shareholding percentage triggers in UK corporate law

David Milman

Extract





3%

•   Obligation to notify public company of acquisition of shares [FCA rule]. Notification to be made within 2 trading days. Further disclosure must be made at every 1% additional acquisition. Derived from EU Transparency Directive 2004/109.

5%

•   Required level of support to challenge a decision to convert a plc into a private company [CA 2006 s. 98]

•   Required level of support to compel directors to call a shareholder meeting [CA 2006 s. 303]

•   Required level of support to challenge political donations by company [CA 2006 s. 370]

•   Required level of support to secure circulation of a members’ statement [CA 2006 s. 314]

•   Support needed to demand independent report on a poll in a quoted company [CA 2006 s. 342]

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