Class Tests

Definition:

Tests used to determine the size of a transaction compared to the size of the issuer as a whole, for the purposes of how a given transaction will be classified with respect to the UK Listing Rules (UKLR). The four Class Tests set out in the Listing Rules are: (1) the gross assets test, (2) the profits test, (3) the consideration test, and (4) the gross capital test. The Class Tests used to determine whether a transaction is a “significant transaction” no longer include the profits test.

See also Class 1 Transaction and Class 2 Transaction.

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