The Law of Corporate Finance: General Principles and EU Law: Volume III: Funding, Exit, Takeovers

212 5 Equity and Shareholders’ Capital The prohibition covers many activities: the use of inside information by acquir- ing or d ...

5.9 Listing and the Information Management Regime 213 Table 5.1 Examples of Market Manipulation Trade-based actions intended to ...

214 5 Equity and Shareholders’ Capital Information-related actions Purchasing a financial instrument for one’s own account befor ...

5.9 Listing and the Information Management Regime 215 they repurchase their common stock in accordance with the rule’s timing, p ...

216 5 Equity and Shareholders’ Capital States “to impose criminal sanctions and without prejudice to their civil liability regim ...

5.9 Listing and the Information Management Regime 217 matter.^409 A Community issuer can influence the governing law by choosing ...

218 5 Equity and Shareholders’ Capital tive. The Transparency Directive sets “high-level requirements in the area of dis- semina ...

5.9 Listing and the Information Management Regime 219 US securities market laws – in particular the Sarbanes-Oxley Act – and the ...

220 5 Equity and Shareholders’ Capital ity because the securities or the issuer no more fulfil the listing requirements or becau ...

5.9 Listing and the Information Management Regime 221 One of the special circumstances that preclude normal regular dealings is ...

222 5 Equity and Shareholders’ Capital volume benchmark (the average daily trading volume of the subject class of its se- curiti ...

5.10 Shares as a Source of Cash 223 Existing shareholders have pre-emption rights.^438 There is a minimum statutory period for t ...

224 5 Equity and Shareholders’ Capital In addition, the Second Directive prohibits the issuing of shares “at a price lower than ...

5.10 Shares as a Source of Cash 225 other advisers; the duties of the issuer (for example, participation in a due diligence); th ...

226 5 Equity and Shareholders’ Capital One of the purposes of the bookbuilding method is to signal to investors that the offer p ...

5.10 Shares as a Source of Cash 227 Stabilisation will not always be deemed to constitute market abuse.^458 Some forms of stabil ...

228 5 Equity and Shareholders’ Capital On the other hand, the publication of an offering circular is not always optional. There ...

5.10 Shares as a Source of Cash 229 territories without prior publication of a prospectus and that (b) Member States shall ensur ...

230 5 Equity and Shareholders’ Capital prospectus has been or will be published and indicate where investors are or will be able ...

5.10 Shares as a Source of Cash 231 making statements to all investors, US investors,^477 New Hampshire residents,^478 and UK in ...