ESMA_QA_2624
01/08/2025
Subject Matter
Scope of the exception in Article 19(12a) of MAR to PDMRs’ general prohibition to trade during the closed period
Original question
Shall a PDMR be allowed to adhere to a takeover bid, a share capital increase, a subscription of shares arising from stock splits, a merger, a rights issue or a spin-off during a closed period pursuant to Article 19(12a) of MAR?
Status: Question Published
Additional Information
Level 1 Regulation
Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity
Additional Legal Reference
Article 19 of MAR as amended and integrated by the Listing Act
Topic
Managers' transactions