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Special conditions attached to an individual security


A security’s percentage change from its previous day’s closing share price is calculated by the actual vendor disseminating the data.  Some may rebase the previous day’s close official closing price of the London Stock Exchange following a corporate action for comparison processes, some may not.

When looking at price movement of a security on the first day of trading following its admission, most vendors will use the first actual execution of the day as the base value not the original IPO price

Notification by Datasync

Capitalisation Issue: The issue by a company of new shares which do not require any payment to be made by the shareholder. A Capitalisation Issue is the same as a Bonus or Scrip Issue. 

Consolidations: When a company reduces the number of shares it has in circulation by consolidating its share capital e.g. shareholders would receive 1, 50p share for every 2, 25p shares held.

Entitlement Issue (Open Offer): Shareholders are given the right to subscribe for the new fully paid share. The new shares are not issued in nil paid form, therefore they do not exist in that form, and cannot trade in nil paid form.

Rights Issue: Issuer has invited existing shareholders to purchase additional shares in the company.

Scheme Of Arrangement: A non-optional event proposed by a company on its share capital.

Subdivisions: When a company increases the number of shares it has in circulation by subdividing its share capital e.g. shareholders would receive 2, 25p shares for every 1, 50p share held.

For more information about Datasync please see: www.londonstockexchange.com/products-and-services/reference-data/datasync/datasync.htm

Notification by XLON_Instrument FTP file

Security Suspended: Usually applied due to a regularity action where the issuer’s primary listing or admission to trading as been temporarily removed. Also disseminated by Group Tick Plant Instrument Status message and Level2-MITCH Directory message.  For more information see Table 12 of MIT201 Guide to the Trading System.

Bid Situation: This is where London Stock Exchange has been notified by The Panel on Takeovers and Mergers (POTAM) that a specific security is currently engaged in a bid situation, whether hostile or otherwise. 

Rights Issue: Issuer has invited existing shareholders to purchase additional shares in the company

Notification by XLON_ExMarker FTP file

Ex: When an issuer undertakes a corporate event, there needs to be certainty as to who holds the benefit of that event, where an execution takes place before it is completed.  Unless the counterparties specifically agree otherwise the buyer assumes the benefit when trading ahead of the ex date and the selling party would need to pass the benefit on to buyer if the seller is still the recorded owner at Record Date.  Likewise the seller retains the benefit if execution takes place on Ex date or later.  If the buyer is already the registered owner at Record Date it would in turn would need to pass the benefit back to the seller. 

XC - Ex Capitalisation: Trading is "ex" capitalisation on this stock.

XD - Ex Dividend: Trading is "ex" dividend on this stock.

XR - Ex Rights: Trading is "ex" rights on this stock.

XS - Ex Stock: Trading is "ex" stock distribution on this stock.

XP - Ex Repayment: Trading is "ex" repayment on this stock.

XO - Ex Other: Trading is "ex" an non-specific benefit on this stock.

S – Stabilisation: Stabilisation is operating in this security.  Stabilisation may occur after a new issue in accordance with FCA rules. It will entail the stabilising manager buying shares in the market to counter initial selling pressure in that specific security. This stabilisation period must be fully disclosed to the market via a Regulatory Information Service.

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