On 10 April 2024, NLD DNB said UCITS managers must notify of shareholding. NLD DNB explained that investment firms and managers of UCITS have the obligation to annually notify NLD DNB of the holders of a qualifying shareholding and must also notify DNB when a holder of a qualifying shareholding increases or decreases the interest.…
Read more
Thailand – SEC Depository Receipts Proposal
On 30 March 2024, Thai SEC announced revised criteria for non-voting depository receipts (NVDR) services, to support foreign investors in Thai stock market, and prevent Thai investors from using NVDR. Key revisions include prohibiting securities companies from increasing Thai investors' NVDR shareholdings, except through/via pre-enforced rights or legal transfers. Foreign securities companies are required to…
Read more
5 April 2024 – Luxembourg CSSF Fines for Failure to Report Sensitive Industries Shareholdings
Luxembourg CSSF Fines for Failure to Report Sensitive Industries Shareholdings
Read more
U.K. – Treasury No Longer Controlling Shareholder Re: NatWest
On 28 March 2024, UK Treasury confirmed successful trading plan means government no longer controlling shareholder in NatWest, its shareholding now below 30%. This is down from the peak government shareholding< of around 84%, since trading plan started in Aug. 2021 approximately £5.8 billion in proceeds has been raised. Reduction of shareholding to around 29.8%…
Read more
S Korea – FSS Cautions on Equity Disclosure
On 24 March 2024, SK FSS issued violations, precautions re equity disclosure. SK FSS updated on violations, precautions re equity disclosure by listed companies. Violations/Precautions The acquisition of convertible bonds (CBs), bonds with warrants, or exchangeable bonds equivalent to 5% or more of the total number of issued stocks shall be reported. The stock acquisition…
Read more
Pakistan – SEC Report Shareholding Change
On 25 March 2024 PAK SEC issued circular re filing return with the registrar. PAK SEC issued a circular re filing of return with registrar for change in shareholding. Filing Per the Companies act, 2017, it is mandatory for an unlisted company to report any change of more than 25% in its shareholding, membership or…
Read more