The UK Financial Services Authority (FSA) has recently consulted on reducing the offer period for non statutory rights issues. It is intended that this contraction will make the process of raising capital more efficient. The results of that consultation have now been published and the minimum subscription period has been shortened to ten business days in the FSA's Listing Rules.
The Irish Stock Exchange has considered the position and believes that it would be appropriate to also reflect this change in the Listing Rules of the Irish Stock Exchange. This change is effective from the 17th February 2009. The Rules have been amended to reflect this change.