29 March 2017
Visit EBAday.com

LSE considers lifting shareholder limits

14 September 2000  |  3229 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  |  4883 views  |  0 comments
OM tables formal offer for LSE

OM tables formal offer for LSE

12 September 2000  |  4497 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit abe-eba.eu

Top topics

Most viewed Most shared
Danish banks add Dankort payments to mobile walletsDanish banks add Dankort payments to mobil...
14872 views comments | 2 tweets | 7 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
13475 views comments | 53 tweets | 32 linkedin
MAS to roll out national KYC utility for SingaporeMAS to roll out national KYC utility for S...
12356 views comments | 33 tweets | 45 linkedin
hands typing furiouslyTwo key technologies driving Machine Learn...
8807 views 0 | 16 tweets | 4 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job