Notification of Major Interest in Shares

Of Relevance to:
Firms subject to the Disclosure Guidance and Transparency Rules sourcebook (DTR)

Under DTR 5, a person is required to notify the issuer (and, under DTR 5.9, the FCA where the shares in question are admitted to trading on a regulated market) when the percentage of voting rights held reaches, exceeds or falls below a particular threshold – please refer to DTR 5.1.2 & 5.1.5 for details of the relevant thresholds at which such notification obligations arise.

The FCA’s Primary Market Bulletin No. 17 informs us that form TR-1 used for such notifications is being revised and will come into force on 30 June 2017. The new TR-1 incorporates notes on the completion of the form, as opposed to current practice of having separate stand-alone completion notes.

Completed forms need to be sent to The FCA requests that the TR-1 forms are sent in Microsoft Word format, as opposed to readable PDF.

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