RE: Shareholding base6 Sep 2022 11:44
They can RNS but not obliged per FCA Handbook
Certain voting rights to be disregarded (except at 5% 10% and higher thresholds)
DTR 5.1.5 R 01/01/2021
RP
(1) The following are to be disregarded for the purposes of determining whether a person has a notification obligation in accordance with the thresholds in DTR 5.1.2 R except at the thresholds of 5% and 10% and above:
(a) voting rights attaching to shares forming part of property belonging to another which that person lawfully manages under an agreement in, or evidenced in, writing;
(b) voting rights attaching to shares which may be exercisable by a person in his capacity as the operator of:
(i) an authorised unit trust scheme;
(ia) an authorised contractual scheme;
(ii) a recognised scheme; or
(iii) a UCITS scheme;
(c) voting rights attaching to shares which may be exercisable by an ICVC.
(2) For the purposes of DTR 5.1.5 R (1)(a), a person ("A") may lawfully manage investments belonging to another if:
(a) A can manage those investments in accordance with a Part 4A permission;
(c) A can, in accordance with section 327 of the Act, manage those investments without contravening the prohibition contained in section 19 of the Act;
(e) A can lawfully manage those investments in a third country and would, if he were to manage those investments in the UK, require a Part 4A permission.