As a corporate finance lawyer, it is common to have to review several rounds of draft announcement for corporate exercises at short notice. Rushing through lunch or being called in the middle of a meeting to review a draft announcement is also quite common.

Public listed companies are required to make announcement on completion of certain corporate exercises such as share subscription, material acquisition and material disposal. Preparing in advance would facilitate the completion. A few things to consider:

1. PLC to inform all parties involved including the advisers when completion will take place.

2. PLC to work with their solicitors to ensure parties are ready to comply with their obligations on the completion date as stated in the relevant agreements e.g. for subscription agreement, this may involve payment to the PLC for the shares and delivery of evidence of allotment of shares to the subscriber.

3. Drafts of the company secretarial forms which are required to be lodged with the Registrar of Companies to be circulated in advance for comments by the other advisers.

4. Draft announcement for completion to be circulated for comments in advance.

What else would you add on?

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This post was first posted on Linkedin on 21 May 2021.