LR 3.5 Block listing1
Application
When a block listing 1can be used
1If the process of applying for admission of securities is likely to be very onerous due to the frequent or irregular nature of allotments and if no prospectus or listing particulars are required for the securities, an applicant may apply for a block listing of a specified number of the securities.
The grant of a block listing constitutes admission to listing for the securities that are the subject of the block. Separately, the provisions of article 1(4) of the Prospectus Regulation2 will need to be considered by the applicant when the securities that are the subject of the block listing are being issued.
11An applicant applying for admission to listing by way of a block listing must submit in final form, at least two business days before the FCA is to consider the application, a completed Application for Admission of Securities to the Official List. An application in respect of multiple schemes must identify the schemes but need not set out separate block listing amounts for each scheme.
1- (1)
An applicant applying for admission to listing by way of a block listing must notify an RIS of the number and type of securities that are the subject of the block listing application and the circumstances of their issue.
- (2)
The notification in paragraph (1) must be made by 9 a.m. on the day the FCA is to consider the application.
An issuer that wishes to synchronise block listing six monthly returns for a number of block listing facilities may do so by providing the return required by LR 3.5.6 R earlier than required to move the timing of returns onto a different six monthly cycle. An issuer with multiple block listing facilities should ensure that allotments under each facility are separately stated.