ABI overhauls rights issue conditions

The Association says the change is part of its bid to speed up the rights issue process and make it easier for companies to launch issues at a discount. The previous limit was one-third of shares. It says it also meets recommendations made by the Treasury-led Rights Issue Review Group. However, the guidance also requires all board members of a company to stand for re-election at the next AGM unless the additional 'headroom' involves the issuance being lower than one-third of the company's value. "We are very pleased to make this contribution to the work of the Review Group," ABI direc...