Disclosure of rights attached to listed securities

In order to reduce the risk of market disruption occurring as a result of an issuer announcing an action that security holders do not realise is within the issuer’s rights to take, and generally to ensure that investors have ready access to information about the rights and restrictions attached to the listed securities they own, from 27 April 2020 issuers must ensure that they have uploaded to the National Storage Mechanism (NSM) a document setting out the rights and restrictions attached to each class of their listed securities. This briefing explains what issuers need to do.