06 December 2016
Visit aciworldwide.com

LSE considers lifting shareholder limits

14 September 2000  |  3175 views  |  0 LSE considers lifting shareholder limits

The London Stock Exchange is to consider lifting restrictions on shareholder limits, cited by OM as a hurdle to its hostile takeover bid. The move was announced by LSE chairman Don Cruickshank in a statement following the exchange's AGM.

Swedish technology group OM has asked LSE shareholders to call an extraordinary general meeting to vote on the removal of a 4.9% limit on individual stakeholding. The group says the restriction must be waived if its £900 million offer for the LSE is to succeed.

"We will not hide behind the 4.9% limit to thwart OM's bid," stated Cruickshank. "Your Board intends to convene a shareholder meeting in due course so that shareholders can decide for themselves, in respect of the OM offer, whether or not the 4.9% restriction should be lifted. Shareholders need not therefore return the EGM requisition form as requested by OM."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

LSE abandons iX merger deal

LSE abandons iX merger deal

13 September 2000  |  4803 views  |  0 comments
OM tables formal offer for LSE

OM tables formal offer for LSE

12 September 2000  |  4421 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out moreVisit contisgroup.com

Who is commenting?

A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
6790 views 12 comments | 15 tweets | 26 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
6347 views comments | 23 tweets | 15 linkedin
Bank CEOs fret about ROI as startups drive IT arms raceBank CEOs fret about ROI as startups drive...
6198 views comments | 17 tweets | 21 linkedin
Amazon signs up tech firms to financial services cloud programmeAmazon signs up tech firms to financial se...
6008 views comments | 14 tweets | 15 linkedin
Big tech policy group calls on Trump to promote fintech innovationBig tech policy group calls on Trump to pr...
5385 views comments | 22 tweets | 11 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job