UK - Investment Association warns companies to stick to pre-emption limits

The Investment Association has publicly rebuked a FTSE 250 company for failing to respect investor pre-emption rights. Talk Talk Telecom Group plc raised £200 million on 8 February in an accelerated book built placing of shares equivalent to 19.99% of the company's existing issued share capital. No prospectus was issued, as the EU Prospectus Regulation has, since July 2017, allowed further issues of shares of up to 20% of the issued share capital with no offer to the public without a prospectu