Protecting Minority Shareholders in Blockholder-Controlled Companies – Evaluating the UK’s Enhanced Listing Regime in Comparison with Investor Protection Regimes in New York and Hong Kong

Abstract

This article considers the Enhanced Listing Regime as a novel measure to address minority shareholders’ concerns in UK Premium-listed companies with a controlling shareholder. There is critical analysis of the mandatory agreement between controlling shareholders and their Premium-listed companies to protect the company’s independence. There is also critical analysis of the re-ordering of voting rights under the Enhanced Listing Regime in favour of minority shareholders in the election of independent directors and where a cancellation of Premium listing is proposed. The article has comparative discussion of the minority shareholder protection regimes in the US and Hong Kong and how minority shareholder concerns in block-held companies may be addressed or otherwise