U.K. Listing Authority to Publish New Entry Rules in July

The U.K. Listing Authority will publish new rules in July for companies seeking a share offering or that already list securities in the country, Financial Services Authority spokesman Chris Hamilton said.

The move follows a public consultation period on proposed changes to the rules that began in October, Hamilton said today by telephone.

The UKLA will insist on independent directors forming a majority on the boards of companies with a controlling shareholder, and plans to introduce a new dual voting procedure, the Financial Times reported earlier.

To contact the reporter on this story: Makiko Kitamura in London at mkitamura1@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net

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