As previously reported, in May of this year the Irish Stock Exchange (ISE) issued a consultation paper on possible changes to the structure of the ISE Listing Regime to bring it into line with the UK listing regime. The consultation proposed that the ISE Primary and Secondary Markets be renamed “Premium” and “Standard” respectively. Premium listed companies would be required to comply with the ISE Listing Rules, while Standard listed companies would comply with EU Directive minimum standards only.

The ISE announced recently that it has decided to maintain the existing listing regime for the Main Securities Market (MSM) and not to follow the “Premium” and “Standard” system. Therefore the majority of Irish companies are required to have a Primary listing on the ISE and comply with the highest requirements of the ISE Listing Rules, including the requirement to obtain shareholder approval for large transactions and the requirement to apply the Irish Corporate Governance Annex and the UK Corporate Governance Code.

Contributed by Susanne McMenamin.

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