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UK Listing Rules: Continuing Obligations for Equity Shares (Commercial Companies)—Significant and Related Party Transactions, Reverse Takeovers, Governance Disclosures and Sponsor Role (post-29 July 2024 reforms)

Practice notes
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Continuing obligations for companies listed in the equity shares (commercial companies) listing category

This Practice Note outlines the ongoing obligations that apply to a company listed in the equity shares (commercial companies) category under the UK Listing Rules (UKLR). It also maps the origin of these continuing obligations in the former Listing Rules and highlights the principal changes from the premium listing regime that applied before 29 July 2024.

Summary of continuing obligations

The table below summarises the continuing obligations for an issuer with equity shares admitted in this category and notes the equivalent provisions in the former Listing Rules (in force prior to 29 July 2024).

Significant transactions — UKLR 7

  • Disclosure-led regime for deals outside the ordinary course at or above 25% under the class tests, referred to as ‘significant transactions’.
  • No requirement for advance shareholder approval or for issuing a circular.
  • Enhanced disclosure via regulatory information service announcements containing prescribed details.
  • No UKLR requirements apply to smaller transactions below the 25% threshold in the class tests...
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Web page updated on 22/05/2026

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