Dealings by Directors in the Company's Shares

A public company may give notice to any person whom the company knows (or has reasonable cause to believe) to be interested in the company’s shares, or to have been so interested at any time during the three years immediately preceding the date on which the notice is issued. This will apply to directors and connected persons. The company must maintain a register of all interests disclosed. Private companies are no longer required to keep a register of directors' interests.

A public company must also enter onto the register of director's interests any grant or exercise of share options by a director or any connected persons. The register of directors' interests must either be kept at the registered office or at the Single Alternative Inspection Location notified to Companies House.

Rules of the Stock Exchange and insider-dealing legislation restrict directors of listed companies dealing in shares when in possession of privileged price-sensitive information. In addition, there are restrictions on directors of listed companies buying and selling share options in their own companies and they are required to give notice of their share dealings.

The full details of the laws and regulations relating to disclosure of directors' interests cannot be discussed in this overview.  Any queries should be addressed to a qualified legal practitioner.