Can you have a dual class listing?

As part of the changes to the UK listing regime implemented in July 2024, the FCA adopted a more permissive approach to dual class share structures than had previously been permitted. The new rules for companies with an ESCC listing are less targeted and do not prescribe a “sunset” limit for dual class structures (unless held by institutional investors, in which case there is a ten-year term). Weighted voting rights associated with dual class structures are non-transferable. Such weighted voting rights are permitted for almost all matter put to a shareholder vote save for certain dilutive transactions or cancellation of a listing.