STSM042605 - Exemptions and reliefs: reliefs: UK Listing Relief: Examples
The following are some illustrative examples of how the UK listing relief may apply.
Example 1
Company A shares are “first listed” on 1 December 2027 and the company enters a 3-year relief period. The company issues further shares on 1 December 2028. The relief will apply to any agreements to transfer the company’s securities which fall within the 3-year listing period, including the securities which were issued after the start of the listing relief period.
Example 2
Company B shares were “first listed” on 1 November 2025 (before the UK listing relief came into effect). On 1 December 2026 (after the UK listing relief came into effect) Company B issues further shares. Agreements to transfer the shares issued on 1 December 2026 will not qualify for UK listing relief as the company was not “first listed” on or after 27 November 2025.
Example 3
Company C shares are “first listed” on 1 December 2027 and the company enters a 3-year relief period. On 1 December 2031 (after the 3-year listing relief period has finished) Company C issues further shares. Agreements to transfer the shares issued on 1 December 2031 will not qualify for UK listing relief (nor will a new 3-year relief period start).