Euronext Growth Milan Rules for Companies (EGM Rules for Companies) and related guidelines plus Rules for Euronext Growth Advisors (Rules for EGA) are amended.
There are also some fine-tuning amendments to certain provisions contained in EGM Rules for Companies and Membership and Trading Rules in EGM market.
Changes relate to free float composition, suspension of trading in event of Reverse Take-overs (RTO), RTO definition, declarations in case of RTO, Independent Directors.
Pro-forma financial information, declaration of auditor, Market Making Agreements.
Effectiveness
Changes effective as of Dec. 4, 2023; changes visible in text (highlighted or crossed).
Feb. 2024 Market Rules Amended
On Feb. 26, 2024, ITA BRS issued notice 7574 on changes to EGM market rules.
Within context of rules on equity markets trading modalities, some changes will expand number of orders that can be entered on the market.
In harmonization with Euronext Group's offer, specifically, so-called midpoint orders for trading on the Euronext Growth Milan market will be introduced.
More specifically, new mid-point order type is tool that allows traders to have orders executed at average value of the bid-ask spread visible in transparent trading book.
Further details on the upcoming changes provided, version includes tracked-changes.
The amendments set out in this Notice will enter into force on Apr. 8, 2024.
Aug. 2024 Amendments
On Aug. 1, 2024, ITA BRS issued notice 32723 on changes to EGM market regulations.
Re simplification of admission requirements for Euronext Growth Advisors; elimination of rules for investing companies admitted to trading before effective date of AIFs rules.
New application form for bonds and warrants, fine tuning; updated texts of Rules will be published on ITA BRS website; amendments in notice in force on Aug. 19, 2024.
Oct. 2024 New Amendments
On Oct. 30, 2024, ITA BRS issued notice 45307 on Euronext Growth Milan rules.
Effective Nov. 18, 2024, changes relate to waiver of minimum free float requirement and placement requirement and also clarification on method to calculate quorum of shareholders' meeting in event of delisting; highlighted texts included in the notice.
Dec. 17, 2024 Further Amendments
On Dec. 17, 2024, ITA BRS published notice 53037 on amendment to Euronext Growth Milan Market regulations, with the introduction of the market distribution mode.
The amendments as highlighted in the notice, are in force from Jan. 2, 2025.
Regulators
ITA BRS
Entity Types
B/D; Corp; Exch
Reference
Nt 53037, 12/17/2024; Nt 45307, 10/30/2024; Nt 32723, 8/1/2024; Nt 7574, 2/26/2024; Nt 43747, 11/17/2023
