Preparing yourself for a takeover? Then watch out because the Financial
Reporting Review Panel is not happy with some companies’ failure to fulfil
reporting duties under legislation governing acquisitions.
The FRRP said it had ‘identified a small number of publicly traded companies
that have not provided the new disclosures required by the Takeover Directive’.
The regulator is concerned that with a large batch of companies preparing
December 2007 annual reports, there is a risk that there could be more such
The new rules compel companies to reveal details of investors with a
significant shareholding in a company and people with shareholders that come
packaged with special voting rights. If directors have powers over the issuing
or buying back of a company’s shares those powers need to be declared too.
The reminder is couched as a friendly nudge in the right direction, but if
the FRRP doesn’t like what it sees it has the power to seek a court order
forcing companies to amend their public documents.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.