14% plus27 Aug 2018 11:18
Takeovers and mergers
In accordance with the London Stock Exchange (LSE) Panel of Takeover and Mergers board (POTM) rules, an investor that acquires 3% of a UK company must, under the FSA’s Transparency Directive, disclose an interest within two business days of the transaction to the LSE and to the company and at each further 1% movement. In the case of an acquisition of 15% or more, an investor should disclose an interest by 12:00 one business day after the transaction date. Further disclosures should be made when the position moves through each whole percentage.