Director declarations no longer needed for non-retail debt issuers listed on TISE

The International Stock Exchange Authority Limited (TISEA) has published its updated Listing Rules with immediate effect.

TISEA has amended its Listing Rules to remove the requirement for directors of debt issuers to submit directors declarations to TISEA on submission of an application for listing, or where a director is newly appointed to an existing listed issuer.

Directors declarations will now only be required for equity listings (including investment funds and REITs) and listings of retail debt securities.  Issuers of non-retail debt securities will only need to provide TISEA with the full name, date of birth and nationality of each of its directors.

TISEA has taken a pragmatic approach in order to further simplify the listing process and the ongoing supervision of issuers listed on TISE. The revision will further reduce the administrative burden placed on applicants during the initial submission process and as part of its continuing listing obligations where new directors are appointed for non-retail debt issuers.

If you have any queries in relation to the revised Listing Rules please do not hesitate to contact the Ogier Corporate Finance Limited (OCFL) listing team (listingnotifications@ogier.com) or your regular contact at Ogier.

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Disclaimer

This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.

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