Significant shareholder meaning

Overview Hydrogen is the universe’s most plentiful chemical element and, in some uses and certain applications, yields only water at the point of use. Although the fuel itself is colourless, it is often labelled by ‘colours’ according to the production route, depending on how it is produced. Black, brown and grey hydrogen arise from coal or natural gas, with grey presently the most widespread form produced and currently the most commonly produced type. Blue hydrogen likewise originates from natural gas, but its manufacture is paired with carbon capture and storage to deliver a more carbon neutral variant. Green hydrogen, by contrast, relies on renewable electricity (for example, from solar or wind) to split water through electrolysis. Because electricity is the key input, green hydrogen sits within the so‑called ‘power‑to‑x’ world of technologies and applications which are attracting significant investment. Together, green and blue hydrogen are generally referred to as ‘low carbon hydrogen’. A closely related field showing promise is also green (and blue) ammonia as well...

In this issue: Economic Crime and Corporate Transparency Equity capital markets Environmental, social and governance issues Members Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Economic Crime and Corporate Transparency Companies House announces mandatory ID verification timeline starting November 2025 Companies House confirms that identity checks required by the Economic Crime and Corporate Transparency Act 2023 will begin on 18 November 2025. New directors must be verified for incorporation or appointment; existing directors will verify at their next confirmation statement. People with significant control (PSCs) have a 12‑month transition window. Around 6–7 million individuals must complete verification by November 2026. Verification will run via GOV.UK One Login or through Authorised Corporate Service Providers, and acting as a director without verification will become an offence once the regime starts. See: LNB News 05/08/2025 29. Equity capital markets FCA publishes Handbook Notice No 132 The...

In this issue: Corporate governance Tax treatment HMRC Manuals tracker Dates for your diary Weekly highlights from other practice areas Corporate governance Babcock suffers investor dissent over executive pay FTSE 100–listed Babcock International Group PLC faced significant shareholder resistance to its executive remuneration at this week’s general meeting. Over 32% of votes went against the Directors’ Remuneration Policy, and more than 32% also opposed amendments to the performance share plan (PSP), though in each instance a majority of those voting backed the resolutions. Under the plans, the PSP—which delivers annual equity awards that vest after three years based on a scorecard of performance targets—would gain an additional absolute Total Shareholder Return (TSR) ‘kicker’ for awards granted from the 2026 financial year. Consequently, once the existing ‘core’ scorecard has determined vesting of the current ‘core’ opportunities (set at 250% and 200% of salary for the CEO and CFO, respectively), a further multiplier, linked to the company’s absolute TSR,...

Produced with input from Rebecca Cousin of Slaughter and May on market practice. This Practice Note succinctly outlines the relevant rules and guidance concerning parties who are, or are deemed likely to be, acting in concert for the purposes of The City Code on Takeovers and Mergers (the Code). In particular, the note reviews the various relationships that may amount to acting in concert, the importance of concert parties for Rule 9 of the Code, and the disclosures required in connection with stakebuilding. Stakebuilding is not prohibited by the Code, but can carry significant implications. The effects of membership of a concert party will typically be engaged under Rules 4 (Restrictions on dealings), 5 (Timing restrictions on acquisitions), 6 (Acquisitions resulting in an obligation to offer a minimum level of consideration), 8 (Disclosure of dealings and positions), 9 (The Mandatory offer and its terms) and 11 (Nature of consideration to be offered) when any of the relevant parties acquires shares...

Updated November 2025 Introduction The Argentine Republic comprises 23 provinces plus a federal district—the City of Buenos Aires, the nation’s Federal Capital. Sitting on the south-eastern edge of South America, Argentina ranks eighth worldwide by land area and second in Latin America, spanning roughly 3.8 million square kilometres (about 1.5 million square miles). Its population exceeds 45 million, with around 15 million residing in Greater Buenos Aires, and an overall density close to 15 inhabitants per square kilometre. With a GDP near US$633bn, Argentina stands among Latin America’s biggest economies. Yet recurrent swings in growth and entrenched institutional constraints have hampered development. Although urban poverty has fallen compared with the prior year, it remains elevated at roughly 32% of residents, according to recent data. In December 2023 a new right-of-centre coalition assumed office, pledging a shift towards more market-friendly measures, such as easing foreign exchange controls, sharply cutting public expenditure, and pursuing other significant reforms. At the time of writing the government succeeded...

Overview of the use of life insurance in estate planning Life insurance—also called life assurance—often plays a significant role in estate planning. This Practice Note outlines the principal policy types offered in the market, examines how they can support an estate plan, and reviews the key tax implications. A central difficulty in many estates is finding cash to settle the inheritance tax (IHT) that arises on death where no spousal exemption is available and the estate is made up, to a meaningful degree, of hard‑to‑realise assets. These can include land, shares in a business that may fail to attract business property relief, and chattels, for example works of art that fall outside the conditional exemption regime. Although IHT instalment property relief can, for illiquid assets, allow the liability to be spread over ten years with interest charged, the obligation to pay IHT remains, and releasing sufficient liquid funds can be problematic. Life insurance can, on death, provide immediate liquidity to meet the IHT liability...

STOP PRESS : Significant reforms to the UK prospectus regime came into force on 19 January 2026 Major changes to the UK regime for public offers and admissions to trading took effect on 19 January 2026. The framework for securities offers and UK market admissions is now chiefly contained in the Public Offers and Admissions to Trading Regulations 2024, SI 2024/105 (the POATRs), together with the FCA sourcebook, The Prospectus Rules: Admission to Trading on a Regulated Market (PRM). The UK Prospectus Regulation and the FCA Prospectus Regulation Rules have been repealed. The reforms aim to simplify capital raising and substantially lessen the circumstances in which a company must publish an FCA-approved prospectus for a further share issue. For full details of the changes, see Practice Note: UK prospectus regime reform. This Practice Note sets out the prospectus regime that applied before 19 January 2026...

Interactions with competitors, negotiations with customers, or collecting market intelligence can carry a significant risk of competition law breaches, and the line between proper and improper contact can be easily crossed. As simply receiving certain information may amount to anti-competitive conduct, you should never discuss confidential strategic matters with competitors or customers. This guide sets out key points for sales and marketing teams to help you recognise competition law issues and respond appropriately 1 Contact with competitors This section sets out straightforward dos and do nots when you are in contact with competitors. Do Leave any meeting where others move into improper discussions, and ensure your exit is recorded. Seek advice from [ insert, eg the legal team ] before discussing with a competitor or entering: joint venture agreements; cooperation agreements, eg R&D, sales, promotions, marketing, etc; shareholder and alliance agreements; agenda, minutes and contacts with trade associations; any contact between competitors relating...

[ On headed notepaper of company ][ insert shareholder name ][ insert shareholder address ] Dear [ [ shareholder name ] OR Sir/Madam ], Request to send or supply documents in electronic form and to making documents available on a website This letter is significant and requires your prompt attention. If you are unsure about its contents, or what steps to take, please seek your own financial advice from: your stockbroker your solicitor your accountant another independent adviser authorised under the Financial Services and Markets Act 2000 The purpose of this correspondence is for [ insert name of company ] PLC (the Company) to obtain your consent to receive [ documents and information OR [ insert details of specific document or information ] ] in electronic format, including through publication on a website. In addition to your individual consent to communications via website publication, the Company must either secure the authority of members by ordinary resolution, or rely...