Euroclear meaning

In this issue: Lending Security Real estate finance Sustainable finance Debt capital markets Derivatives Regulation for derivatives lawyers Regulation for banking lawyers Sanctions Daily and weekly news alerts New and updated content Useful information Lending Cabinet Office publishes its reply to the consultation on the National Security and Investment Act 2021 (Notifiable Acquisition) (Specification of Qualifying Entities) Regulations 2021, SI 2021/1264. The paper collates stakeholder feedback from the consultation and details the government’s planned amendments to each schedule of the Notifiable Acquisition Regulations. It also focuses on suggested changes to the National Security and Investment Act 2021 (NSIA 2021). See LNB News 12/03/2026 56; source: Consultation on the NSI Act Notifiable Acquisition Regulations... Security Companies House reports resolution of a WebFiling security incident identified on 13 March 2026, which may have enabled signed-in users to view and alter parts of other companies’ information without permission. The service was taken offline...

In this issue: Corporate insolvency processes Personal insolvency Directors and insolvency Insolvency litigation Financial institutions Daily and weekly news alerts Key dates for restructuring and insolvency professionals New content Corporate insolvency processes Addressing the issue—winding-up petitions and default registered offices (DG Resources Ltd v HMRC) The High Court confirmed that serving a winding-up petition on a company using a Companies House default registered office—allocated under the Registered Office Address (Rectification of register) Regulations 2024—will not amount to valid service unless the process in paragraph 2 of Schedule 4 to the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, is followed precisely. Here, HMRC’s petition was not properly served in line with IR 2016. Although the underlying debt was not contested, the petition was struck out. The ruling clarifies how petitions must be served where a Companies House default address is in place and underscores the need for exact adherence to the...

In this issue: Case round-up Lending Procurement Act 2023 Sustainable finance Debt capital markets Derivatives Scotland Daily and weekly news alerts New and updated content Useful information Case round-up Banking & Finance—February 2026 case round-up For an overview of the February 2026 Banking & Finance alerts, consult News Analysis: Banking & Finance—February 2026 case round-up. Lending Abraaj Investment Management Ltd v KES Power Ltd (No 2) [2026] EWHC 441 (Comm) The court dealt with consequential matters arising from the trial decision in Abraaj Investment Management Ltd (in liquidation) v Kes Power Ltd [2026] EWHC 65 (Comm), including permission to appeal, the form of order, interest, costs and any stay. Foxton LJ examined three appellate grounds advanced by the claimants challenging findings of estoppel by convention tied to the assignment of the KESP Receivable. Ground 2 queried whether, contrary to authority, estoppel by convention could confer fresh rights on Mashreq. The...

This Practice Note provides an overview of the process of making a rights issue in CREST It does not attempt to introduce CREST or uncertificated securities, nor does it offer practical steps for transferring shares through CREST. For guidance on those topics, including a summary of key terms, refer to Practice Note: CREST and uncertificated shares—an introduction. For a synopsis of how various shareholder and company actions are carried out within CREST, see Practice Note: CREST—shareholder and general corporate actions. For a guide to conducting an open offer in CREST, consult Practice Note: CREST—open offers. For how to accept a takeover offer via CREST, see Practice Note: CREST—takeover offers. The general mechanics of undertaking a rights issue fall outside the remit of this Practice Note. It addresses solely the aspects that differ, or merit specific comment, where a rights issue is implemented through CREST. For broader information on rights issues and the matters that listed or AIM companies should evaluate when proposing a rights issue, see Practice Notes: Rights...

This Practice Note outlines how to accept a takeover offer in respect of shares held through CREST. It does not include an introduction to CREST or uncertificated securities, nor practical steps for transferring CREST holdings. For guidance on those topics, including a primer on key terms, see Practice Note: CREST and uncertificated shares—an introduction. For information on the conduct of different shareholder and general corporate actions within CREST, see Practice Note: CREST—shareholder and general corporate actions. For an explanation of the procedure for launching a rights issue via CREST, see Practice Note: CREST—rights issues. For an explanation of the process for implementing an open offer in CREST, see Practice Note: CREST—open offers. Takeover offers in CREST Takeover offers are largely beyond the remit of this Practice Note; however, this Note explains how acceptance can be given for CREST-held shares. It does not specifically cover takeovers carried out by a scheme of arrangement, but the shareholder ballot on the scheme would be dealt with in the same manner as...

This Practice Note sets out an introduction to, and overview of, CREST, covering: what CREST is and the idea of uncertificated securities the legal framework the advantages of CREST and what companies must do to allow their securities to be held in CREST how uncertificated securities are held and transferred within CREST, and a brief introduction to the concept of depository interests It does not address how various shareholder and corporate actions are undertaken in CREST, nor practical guidance on the CREST processes around shareholder voting on resolutions, alterations of share capital, dividends, open offers, rights issues and takeovers. What is CREST? CREST is a central securities depository, run by Euroclear UK & International Limited (Euroclear), for the holding and transfer of dematerialised securities. It supplies core infrastructure for the electronic holding, transfer and related servicing of (or dematerialised settlement for) equities, debt securities and other financial instruments admitted to the system (participating securities). In broad...

Parties Issuer [ • ] Guarantor [ • ] Lead Manager [ • ] Settlement Manager [ • ] Principal Paying Agent [ • ] Trustee [ • ] Registrar [ • ] Auditors [ • ] Tax Advisers Lead Manager Legal Advisers [ • ], acting as legal counsel to the Lead Manager, and [ • ], acting as legal counsel to the Trustee Issuer Legal Advisers [ • ], serving as legal counsel to the Issuer and the Guarantor The Depository Trust Company ( DTC ) Euroclear Bank SA/NV ( Euroclear ) Clearstream Banking S.A. ( Clearstream ) Common Depositary [ • ], in its role as Common Depositary [ The London Stock Exchange plc ] ( Stock Exchange ) [ The Financial Conduct Authority ] ( FCA ) [ Regulatory News Service of the Stock Exchange ] ( RNS ) SIGNING AGENDA ...

DEFINITIONS The following terms apply throughout unless context dictates otherwise: parties/governance cover [ Offeree ] (its Directors, General Meeting, Group, Optionholders, Shareholders, Share Plans, Shares, Warrantholders and Warrants) and [ Offeror ] (its Directors, General Meeting, Group, [ Offeror Parent ], boards, shareholders and any [ Offeror ] Shareholder Resolutions). Transaction references include the Acquisition via the Scheme (or, with Panel consent, a Takeover Offer), the Announcement, Conditions, Meetings, Long Stop Date, Offer, Offer Period, Offer Price and the Resolution. Court/regulatory matters comprise the Court, Court Meeting, Court Hearing, Court Order, the Code, Companies Act, CMA, FCA, FSMA, UK Listing Rules/Market Abuse Regulation, Disclosure Guidance & Transparency Rules, the Panel and any Regulatory Information Service. Market/settlement terms include London Stock Exchange, Official List/Daily Official List, Business Day, Closing Price, CREST, Euroclear, CREST Regulations/Manual, certificated or uncertificated form and CREST sponsored member, plus the Registrars and Registrar of Companies. Scheme mechanics span the Scheme Document and Explanatory Statement, Forms of Proxy, Effective/Effective Date, Voting and Scheme Record Times, Scheme Shareholders/Shares,...

ARCHIVED: This Precedent has been archived and is no longer maintained [ ISSUER ] Offering (the ‘Offering’) of [ ● ] global depositary receipts (the ‘GDRs’), with each GDR evidencing an interest in [ ● ] ordinary share[s] of nominal value [ ● ] (the ‘Shares’). 1 Parties involved in the offering Issuer ( ILC ) Custodian ( Custodian ) Clearstream Banking, société anonyme ( Clearstream, Luxembourg ) Issuer’s Counsel ( IC ) Manager’s Counsel ( MC ) Euroclear BankS.A./N.V. as operator of the Euroclear System ( Euroclear ) Issuer ( Company ) Selling Shareholder (Selling Shareholder) Manager 1 ‘ [ ● ] ’ and ‘ Stabilisation Manager ’ Manager 2 ‘ [ ● ] ’ and ‘ Settlement Agent ’ London Stock Exchange ( LSE ) Manager 1 and 2 ( Managers ) Depository ( Depository ) The Depository Trust Company ( DTC ) Financial Conduct Authority ( FCA )...