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COVID-19 Corporate Update: UK Public Company AGMs
April 21, 2020, Covington Alert
The Government has announced further information on the measures to be brought forward to assist public companies in meeting their statutory and regulatory obligations to hold annual general meetings (AGMs) during the current season. On 17 April 2020, the Department for Business, Energy and Industrial Strategy (BEIS) and the Financial Reporting Council (FRC) published a Q&A to provide guidance on “Company filings, AGMs and other general meetings during Covid-19”. The key features of the Q&A are as follows.
April 14, 2020, Covington Alert
On 8 April, the UK Financial Conduct Authority (FCA) announced further measures to assist companies seeking to raise finance from the capital markets in order to meet the challenges of the COVID-19 pandemic and position their businesses for recovery. The FCA Statement of Policy sets out guidance on the application and relaxation of certain pre-existing rules, ...
April 3, 2020, Covington Alert
On 28 March, 2020, the UK Government announced that it intends to amend insolvency law to give companies breathing space and allow them to keep trading while they explore options for rescue. The changes include (a) a temporary suspension of wrongful trading by directors of UK companies for three months commencing on 1 March, 2020 and (b) the introduction of a ...
April 3, 2020, Covington Alert
COVID-19 has created many challenges for both public companies and a range of regulators tasked with ensuring market functionality and integrity. In the past few weeks, Government, regulators and advisory bodies relevant to the capital markets have moved to act quickly where they can to announce new measures or provide guidance aimed to address areas of ...