Companies Act 2014 section 1099

Additional rights of shareholders in certain PLCs (provisions implementing Shareholders' Rights Directive 2007/36/EC)

Section 1099 establishes that additional shareholder rights (set out in Sections 1100 to 1110) apply to public limited companies whose shares are traded on a regulated market, and defines what constitutes a "traded PLC" for these purposes.

• Sections 1100 to 1110 apply to general meeting notices and general meetings of traded PLCs, regardless of anything in the company's own constitution
• A "traded PLC" is a public limited company whose shares are admitted to trading on a regulated market in any EU Member State, but excluding UCITS funds and alternative investment fund undertakings
• These shareholder rights provisions, along with Chapters 8A, 8B, 8C and 8D, do not apply to companies subject to resolution tools or powers under the Bank Recovery and Resolution Regulations
• The section implements provisions originating from the EU Shareholders' Rights Directive (2007/36/EC), giving additional protections to shareholders in publicly traded companies