Pre-Emption Group issues statement on Secondary Capital Raising Review
News types: Generic Announcement
Published: 19 July 2022
On behalf of the Pre-Emption Group
The Pre-Emption Group welcomes the Secondary Capital Raising Review which upholds the continuing importance of pre-emption rights. The Group looks forward to performing its enhanced role as recommended by the Review.
In addition, Keith Skeoch has now been appointed as the new chair of the of the Pre-Emption Group.
The Secondary Capital Raising Review is available here
Notes to editors:
On 12 October 2021, the Treasury appointed Mark Austin as independent chair of the UK Secondary Capital Raising Review, tasked with making recommendation on how further capital raising processes by companies that are already listed could be made more efficient.
Mr Austin published the outcome of his review today (19 July 2022), making a series of recommendations to the Government, Financial Conduct Authority (FCA) and the Pre-Emption Group (PEG).
The Financial Reporting Council (FRC) acts as Secretariat to the Pre-Emption Group. The Pre-Emption Group issues best practice documents regarding authorities to disapply pre-emption rights. The Group represents listed companies, investors and intermediaries.