UKLA change will reshape reverse takeovers

Author: | Published: 27 Aug 2010

The UK Listing Authority (UKLA) has relaxed information requirements for target companies in reverse takeovers. But stricter rules on the use of topcos mean the benefits could be outweighed.

Under the new regime, issuers no longer have to produce audited financial information on the (larger, unlisted) target company to fulfil UKLA requirements.

Three years of data must still be provided, but can be unaudited as long as it is accompanied by a statement from the issuer’s directors that enough information is included for...