#CorporateGovernance alert: On 29 July 2024, the new UK Listing Rules came into force. - Under the previous regime, if a transaction outside the ordinary course of business impacted more than 25% of the asset value of the company, it would qualify as a “class 1” transaction and require shareholder approval for the transaction. - Under the new rules, transactions that would have previously qualified as class 1 transactions do not require shareholder approval, nor the publication of a shareholder circular. More details on the numerous changes wherever UK governance is covered (I am providing a link from Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates in the comments).
The Devil is in the details: If the quality of the information provided as required under the new rules is high enough, it is good news that the "old" lengthy shareholders circular, where you could dilute almost everything, has now been abolished
Non Executive Director, advisor, investor
3wMore detail clearly explained here: https://www.skadden.com/insights/publications/2024/07/new-uk-listing-rules-come-into-force