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Rights Issue Timetable Chart Notes

This is a sample of our (approximately) 3 page long Rights Issue Timetable Chart notes, which we sell as part of the Public Companies and Equity Finance Notes collection, a Distinction package written at Multiple Institutions in 2013 that contains (approximately) 165 page of notes across 52 different document.

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Rights Issue Timetable Chart Revision

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Rights Issue Timetable Date


At the latest 10 working days before Impact Day (but probably well before)

Draft Prospectus is submitted to FSA for approval FSA will approve the Prospectus based on Listing Rules requirements

Day before Impact Day

Board meeting to approve rights issue Underwriting agreement is signed and held in escrow

Impact Day

The day when the prospectus is published

Rights issue is announced to the public by RIS

If not signed at BM day before, underwriting agreement signed on Impact Day, but subject to conditions Prospectus

Prospectus is sent out to Shareholders

A GM will probably need to be held to pass relevant resolutions - LR 13 o ASC, Authority, Pre-emption Rights

Prospectus will therefore include notice of GM Underwriting Agreement

Needs to be signed as the company will not want to go ahead with the issue without ensuring the shares will be taken up

87(a) FSMA necessary information in the prospectus includes information about underwriting

Need to give 14 (s307 CA) clear (s360 CA) days

Due to 'deemed service' provisions in CA s1147 (and the fact that it's clear days) the notice period will probably end up being about 18 days GM to pass all resolutions

GM is needed to disapply pre-emption rights in relation to fractional and overseas shares +
giving directors authority to allot if necessary

Need to pass shareholder resolutions e.g. o Grant D's authority to allot o Disapply s561 o Alter AoA (ASC)

14 clear days (between Impact day and GM)
= 18 calendar days

General Meeting

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