EuropeanIssuers responded to CESR’s consultation on enlargement of scope of shareholding notifications
14 April 2010
One of their main concerns is that instruments that may be used to acquire voting rights, de facto control over or influence on the exercise of voting rights should be aggregated to shares and entitlements to shares for the calculation of the notification threshold.
EuropeanIssuers welcomes CESR’s proposal, stressing that:
· Article 13 of the transparency Directive needs to be broadened
· Practices such as securities lending and repurchase agreements should fall under the obligation to notify
· Instruments that may be used to acquire voting rights, de facto control over or influence on the exercise of voting rights should be aggregated to shares and entitlements to shares for the calculation of the notification threshold
· The benefits of improved transparency outweigh additional compliance costs
© EuropeanIssuers
