Comfort Letter For Listing Rules 8.3 And 8.4 (Issuer to Sponsor)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🔖 Listing rule comfort letterBusiness activity
Comfort letter for sponsorA listing rule comfort letter is a letter that is provided by a company to the stock exchange on which it is listed, in order to assure the exchange that the company is in compliance with all listing rules. The letter is usually written by the company's lawyers and states that the company has reviewed all of its practices and procedures and is in compliance with all listing rules.
The UK Listing Rules serve as regulatory guidelines for companies listed on the UK stock market. Rules 8.3 and 8.4 pertain to specific requirements that need to be fulfilled during certain transactions involving the shares of the listed company. The comfort letter, in this case, serves as a legal assurance document provided by the issuer to the sponsor (often an investment bank or financial institution assisting in the transaction), confirming compliance with these rules during the process.
The comfort letter assures the sponsor that the issuer is adhering to the requirements outlined in the relevant Listing Rules sections. It may include various representations and warranties, disclosures, and confirmations from the issuer, ensuring that all relevant information is made available to the sponsor and that no material omissions or misrepresentations are present.
Typically, this template outlines the specific content and format of the comfort letter, as well as the necessary legal language and provisions required under UK law. It may also provide guidance on the procedures to be followed by the issuer during the drafting and issuance of the letter.
It is important to note that this is a general description of the legal template, and its specific content and purpose may vary depending on the circumstances of the transaction and the particular requirements of the Listing Rules.
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