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Home Member State notification

15th February 2016 9 Comments

A FTSE100 Company Secretary writes...

What are other companies doing regarding the Home Member State notification due by 26 February?

Are companies only emailing the form to the FCA to the specified email address or are they also releasing a stock exchange announcement?  It appears the obligation is twofold (DTR 6.4.3R for the form and DTR 6.4.2R for the stock exchange announcement) but I haven’t seen many stock exchange announcements, hence my question.

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Comments

  1. FTSE100 said

    22nd February 2016 at 10:12 am

    We added a line to the bottom of a scheduled RNS announcement.

    • FTSE250 said

      16th February 2016 at 5:29 pm

      I will be issuing an RNS announcement

      • FTSE100 said

        16th February 2016 at 9:17 am

        Yes – sent the obligatory email and put a line at the bottom of a scheduled announcement. Also done the same for companies with debt listings on LSE.

        • FTSE100 said

          15th February 2016 at 9:13 pm

          The FCA have advised that only new issuers are required to notify but it is good practice for all issuers to do so

          • FTSE250 said

            15th February 2016 at 4:27 pm

            Yes, in addition to completing the form and emailing it to the UKLA, we combined this one-off communication with our December 2015 Total Voting Rights disclosure. This seems to be the way companies are dealing with this amendment to the DTR rules, ie:

            Total Voting Rights and Capital and Home State Declaration

            For the purposes of DTR 6.4.2R, the Home State of the Company plc is the United Kingdom.

            It’s not exactly the most onerous of tasks………..

            • FTSE100 said

              15th February 2016 at 4:10 pm

              We also had a similar query but understood that the obligation was two fold and so we emailed the form to the relevant email address and made a stock exchange announcement.

              We noticed that quite a few companies had made stock exchange announcements confirming their home member state although it may not appear obvious as many notifications were combined with other material in the RNS,

              • FTSE250 said

                15th February 2016 at 4:02 pm

                I have emailed the form but was also advised to add a sentence to a convenient announcement. I therefore added something to a regular voting rights announcement – I didn’t make a separate announcement.

                • FTSE250 said

                  15th February 2016 at 3:57 pm

                  Does DTR 6.4.4 not apply the default position if a Company fails to notify under 6.4.2 ? In other words the default position is the Home state where the primary listing is .

                  • FTSE SMALL CAP said

                    15th February 2016 at 3:56 pm

                    We are tagging a short sentence into the body of our full year results announcement which is due out next week to meet this requirement. Legal advice from Slaughter and May was that we do need to do both, albeit it’s a duplication of information already provided given we emailed the FCA with the required form back in November. I can’t imagine the FCA will be doing much about non-compliance by next week! I would see what other announcement you can add it in to – maybe your next total voting rights?

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