2013

An EU threat to require the abolition of share certificates was originally reported to UKSA members in the association’s magazine The Private Investor in March 2012. The proposal is that all shares should be held in central securities depositories (CSDs). Discussions continue within Europe on the draft Regulation, to be known as the CSDR. UKSA understands that the UK government continues to resist such a change being made mandatory.

Shares in Persimmon plc have been rising (as have most housebuilders’ recently), so its shareholders will be happy. But something has happened which may leave its shareholders far from happy in the future, even though the majority voted for it. It’s called a ‘long term incentive plan’, or LTIP for short.