Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

DTR 5.5 Acquisition or disposal by issuer of shares

DTR 5.5.1RRP

An issuer of shares must, if it acquires or disposes of its own shares, either itself or through a person acting in his own name but on the issuer's behalf, make public the percentage of voting rights attributable to those shares it holds as a result of the transaction as a whole,1 as soon as possible, but not later than four trading days following such acquisition or disposal where that percentage reaches, exceeds or falls below the thresholds of 5% or 10% of the voting rights.


2DTR 5.5.1R does not apply to a third-country issuer that falls within DTR 5.11.4R.

DTR 5.5.2RRP

The percentage shall be calculated on the basis of the total number of shares to which voting rights are attached.

[Note: article 14 of the TD].

DTR 5.5.3G

Additional requirements in relation to a listed company which purchases its own equity shares are contained in LR 12.4.6 R.