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June 2011


LSEG response to HM Treasury’s public consultation: “Consultation on early implementation of amendments to the Prospectus Directive

Our response outlines our views on the early implementation of the two amendments proposed.
  1. Increase in total consideration of the offer for which the Directive does not apply from €2.5 million to €5 million
  2. Increase the minimum number of minimum investors for which a prospectus is required from 100 to 150 investors
In summary:
  • We support the early implementation of the two amendments proposed;
  • We expect these changes will be positive and most significant in the case of further fundraisings conducted by smaller companies on our markets.
  • Over the longer term, we expect these changes will help smaller companies attract a wider set of investors, boosting liquidity and lowering the cost of capital.

LSEG Response to early implementation of amendments to PD(pdffile pdf - 27 KB)

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