The big changes for companies floating in UK

1 The new regulations will attempt to ensure listed companies are run independently of their controlling shareholders, including measures that give independent shareholders a veto over transactions between listed companies and a controlling shareholder when this independence is threatened.

2 They will require separate approval of independent directors by independent shareholders, in addition to gaining approval from shareholders as a whole.

3 They will provide voting power for minority shareholders where a company with a controlling shareholder seeks to cancel its listing or remove minority shareholders’ rights.

4 The new rules require greater transparency for listed companies to ensure shareholders have the information they need to exercise their voting rights.

5 There’s a proposed two year grace period for existing listed companies, like Sports Direct, to comply.