ESMA_QA_2029
27/10/2009
Subject Matter
Major shareholding notification – acquisition of a shareholder; TD Art. 9(1)
Original question
Company A is a major shareholder in an issuer X whose shares are admitted to trading on a regulated market. Company B, which previously does not hold any shares or voting rights in X, ac-quires control in company A. Should B notify its holdings in issuer X even though the holdings of A in issuer X remain the same?
ESMA Answer
27-10-2009
Original language
[ESMA31-67-127 TD Q11]
As B indirectly acquires voting rights of issuer X, it has to notify its holdings in X. As required by Article 12(1) of the TD, the chain of controlled undertakings through which voting rights are effectively held, must be disclosed in the notification.
Status: Answer Published
Additional Information
Level 1 Regulation
Transparency Directive (TD) Directive 2004/109/EC
Historic Question Reference
[ESMA31-67-127 TD Q11]
Topic
Notifications of major shareholdings