Companies Act 2014 section 1058

Interest in shares by attribution

Section 1058 deals with situations where a person is treated as acquiring or losing an interest in shares not through their own actions, but because of changes in another person's interest — typically through family or corporate connections, or share acquisition agreements.

• A person can be deemed to have gained or lost an interest in shares purely because of another person's interest, through family and corporate connections or share acquisition agreements
• Attribution arises in several ways, including when a connected person acquires or disposes of shares, or when either party joins or leaves a share acquisition agreement
• The disclosure obligation is triggered only when the person knows both the facts about the other person's shareholding and the facts that create the attribution link between them
• A person is regarded as knowing about the other's interest if they have been notified under the mutual notification rules, even if that knowledge comes after the event