CLLS Company Law Committee response to Chapter 10 of FCA Quarterly Consultation Paper - March 2026

The Comittee agrees with the FCA’s proposal to remove the relevant UK Listing Rules following the abolition of the block listing process.

It suggests an alternative approach: retain the rule requiring announcements of equity fundraising results, but carve out share issues under employee share plans.

It asks the FCA to clarify how the 60-day announcement period works where shares are admitted under block admission before allotment.

It also seeks guidance on whether companies can combine PRM 1.6.4R disclosures with monthly Total Voting Rights announcements, and whether LSE admission announcements can also satisfy FCA notification requirements.