1Under the listing rules each issuer must satisfy the requirements in the rules that are specified to apply to it and its relevant securities. In some cases a listing is described as being either a standard listing or a premium listing.
A listing that is described as a standard listing sets requirements that are based on the minimum standards set out in the United Kingdom provisions which implemented CARD and the TD4. A listing that is described as a premium listing will include requirements that exceed those required under the United Kingdom provisions which implemented CARD and the TD4.
- (3) 2
In the case of3 equity shares 2of a commercial company or equity shares or certificates representing shares of a sovereign controlled commercial company3, an issuer will have a choice under the listing rules as to whether it has a standard listing or a premium listing. The type of listing it applies for will therefore determine the requirements it must comply with.
- (5) 2
In one case, for further classes of equity shares of a closed-ended investment fund5, the equity shares may be admitted to a standard listing provided that, and only for so long as, the issuer has a premium listing of equity shares.2
An issuer that is not an issuer with a premium listing 3must not describe itself or hold itself out (in whatever terms) as having a premium listing or make any representation which suggests, or which is reasonably likely to be understood as suggesting, that it has a premium listing or complies or is required to comply with the requirements that apply to a premium listing.2