Growth stock meaning

Antitrust Commission fines České dráhy and ÖBB €48.7m for collective boycott The Commission has adopted an infringement decision against České dráhy (ČD) and Österreichische Bundesbahnen (ÖBB) for conspiring to stop the newcomer RegioJet from obtaining second-hand wagons, thereby curbing competition in the passenger rail market. Penalties amounting to €48.7m were imposed on both companies. As ÖBB cooperated with the Commission under the 2006 Leniency Notice, it benefited from a 45% reduction in its fine. RegioJet entered the long-distance rail passenger market in Czechia in 2011. To challenge ČD and ÖBB, it primarily depended on used coaches. The investigation concluded that, between 2012 and 2016, ČD and ÖBB coordinated to preserve their market position and obstruct RegioJet’s growth both within Czechia and on the cross-border Prague–Vienna route, in breach of Article 101 TFEU. In particular, the two operators aligned their conduct in sales processes for used ÖBB long-distance passenger wagons to stop RegioJet purchasing them. ÖBB’s stock was especially significant for RegioJet due to its quality and modern...

Future Growth Capital On 31 July 2024, the long‑term savings and retirement business, together with the global investment manager, announced their joint venture, Future Growth Capital, which intends to direct capital into expanding firms that are not listed on the stock market. They said the initiative will be the first private market investment manager to be set up in the UK to advance the objectives of the Mansion House Compact—an agreement tabled by the previous government with the retirement savings sector that saw pensions firms pledge to allocate a minimum of 5% of defined contribution funds to unlisted equities by 2030. Phoenix and Schroders added that a core priority is investing on behalf of pension savers to build the UK businesses ‘of the future’. It will also invest across global private markets...

This News Analysis reviews the Commission’s draft regulation creating a corporate legal framework for EU Inc (the ‘Proposal’), considered in light of President von der Leyen’s statement of 18 March 2026 (see LNB News 18/03/2026 53). It explores the legal and practical consequences of introducing an optional, harmonised corporate regime intended to cut fragmentation, promote cross-border expansion and strengthen the EU’s competitiveness. The core company-law elements of the Proposal are set out, notably concerning the allocation of matters between the proposed regulation and any residual national law, the digital incorporation and corporate governance of EU Inc companies, and the departure from minimum share capital rules towards an alternative model of creditor protection. What legal problem is the proposed 28th regime trying to solve, and why has the Commission chosen an optional EU Inc model ? The EU Inc is conceived as a company-law option, commonly labelled the ‘28 th regime’, designed to sit alongside the existing national company law frameworks in the EU, which currently consist of 27...

FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: From 2027, stamp duty and SDRT will be replaced by a single, self-assessed tax on securities—the securities transfer charge (STC)—which will be paid and reported via a new online portal. The STC’s features will largely reflect the proposals for that tax set out in the 2023 consultation. Finance Bill 2026 (FB 2026) provides a power, commencing on Royal Assent, to introduce secondary legislation so taxpayers can pilot the digital service by self-assessing their stamp taxes on securities liabilities and submitting transactions electronically. For more on the modernisation of stamp taxes on securities, see: News Analyses: Budget 2025—Tax analysis—Stamp and transfer taxes Tax update spring 2025—Stamp taxes on shares modernisation Tax update spring 2025—Tax analysis—Stamp and transfer taxes TAMD 2023—Stamp taxes on shares modernisation TAMD 2023—consultation—stamp taxes on shares Tax Administration and Maintenance Day—27 April 2023—Stamp and transfer taxes...

This Resource Note This Resource Note summarises the key provisions of Rules 10 and 11 of the AIM Rules for Companies (AIM Rules), which concern the principles governing an AIM company’s disclosure of information and the release of price-sensitive information. It signposts pertinent materials, commentary and guidance from the London Stock Exchange (LSE), together with Lexis+® UK analysis and resources, to deliver practical support on interpreting and applying Rules 10 and 11 of the AIM Rules. Topics included in this Resource Note comprise: the AIM Rules the AIM Rules for Nominated Advisers (Nomad Rules) Inside AIM, the regular publication issued by the AIM Regulation team AIM Notices, published from time to time, containing information on AIM regulatory and administrative matters Lexis+® UK and Lexis®Library resources ...

This brief guide sets out practical details on making notifications of transactions or dealings in a company’s shares, and specified other securities, by persons discharging managerial responsibilities (PDMRs) and persons closely associated with them (PCAs) under Article 19 of Assimilated Regulation (EU) No 596/2014 on market abuse (the UK Market Abuse Regulation). For an in‑depth overview of the regime on PDMR transactions, see Practice Note: Continuing obligations—transactions by a person discharging managerial responsibilities (UK Market Abuse Regulation and DTR 3). Which companies are subject to the provisions on PDMR transactions under Article 19 of the UK Market Abuse Regulation? The disclosure rules for PDMR transactions in Article 19 of the UK Market Abuse Regulation apply to: a company with financial instruments admitted to trading on a UK regulated market, which includes the London Stock Exchange’s Main Market and the AQSE Main Market a company with financial instruments admitted to trading on a UK multilateral trading facility (UK MTF), which includes AIM and the AQSE...

Recognised growth market exemption from stamp duty and SDRT The recognised growth market exemption from stamp duty and SDRT covers securities admitted to trading on a recognised growth market, provided they are not listed on any market. Although people often say AIM shares are ‘listed on AIM’ or ‘AIM listed’, they are in fact unlisted; it is therefore better to describe them as ‘AIM traded shares’ or simply ‘AIM shares’. They are classed as unlisted because they are not included in the UK official list. Under section 1005(3) of the Income Tax Act 2007 (ITA 2007), a security admitted to trading on a UK recognised stock exchange counts as ‘listed’ only if it appears on the UK official list. Furthermore, section 99A(3) of the Finance Act 1986 confirms that the meaning of ‘listed’ in ITA 2007, s 1005(3)–(5) also applies to the references to ‘listed’ within the recognised growth market exemption from stamp duty and SDRT...