§ Mrs. Curtis-ThomasTo ask the Chancellor of the Exchequer what initiatives there are to give smaller quoted companies more flexibility to seek approval from shareholders for non pre-emptive issues. [40253]
§ Miss Melanie JohnsonI have been asked to reply.
Smaller quoted companies already have flexibility to allot shares on a non-pre-emptive basis where this is approved by a special resolution of their members. The Company Law Review recommended no change in this arrangement. I am considering this along with the Review's other recommendations.