Exclusivity, break fees and financial assistance: how an unenforceable agreement came 'back from the dead'

The express prohibition on private companies giving financial assistance for the acquisition of their own shares was abolished in October 2008. This long-awaited change in the law was widely welcomed by those involved in mergers, private equity investments and other company or share acquisitions.

Companies and Prospectus Regulations - simplifying the process for merger, division or public offerings

Both the Companies Regulations 2011 (2011/1606) and the Prospectus Regulations 2011 (2011/1668) were published this month. Each aims to simplify the administrative processes a company must adhere to when involved in either mergers and divisions or making public offers of securities.

ICSA issues updated guidance for incoming directors

On 11 May 2011 the Institute of Chartered Secretaries and Administrators (ICSA) published 'Joining the right board: due diligence for prospective directors.' This is an updated guidance note on the due diligence process future directors are advised to take ahead of joining a company.

AIM: New funding opportunities on the horizon for public companies

The Chancellor's March 2011 Budget introduces changes to the way companies can raise money from Venture Capital Trusts (VCTs) and through the Enterprise Investment Scheme (EIS).

Important changes to Takeover Code

The Code Committee of the Takeover Panel has announced its intention to make some significant changes to the Takeover Code.

Publish or be damned - failure to comply with announcement obligations can be a costly oversight

Photo–me International is the latest in a growing list of companies to be fined by the City watchdog, the Financial Services Authority, for late disclosure of inside information.

Company law and corporate governance

Following a review of corporate governance by the Financial Reporting Council a new corporate governance code, 'the UK Corporate Governance Code' (previously the Combined Code), has been published.

Premium and Standard Listings: the two-tier UK Listing Regime

Companies looking at a stock market quotation now have a wider choice of listing category to consider as the Official List, the London Stock Exchange's main market for listed securities, now has two tiers: a premium and a standard listing.

Wragge & Co advises ADP on UK public takeover

Wragge & Co LLP's Public Companies team has advised Automatic Data Processing, Inc., a US-based business outsourcing solutions company, on its £16.2 million public takeover of AIM-listed OneClickHR plc.

Public equity financing: a new era?

2008 and 2009 were notoriously lean years for public listings in the UK. However, 2010 could bring a new era of popularity for initial public offerings (IPOs) as companies look for alternatives to the continuing challenging debt market.