1.      The Panel on Takeovers and Mergers (the "Takeover Panel") has decided to increase the rate of the PTM Levy from 100p to 150p per contract where the total consideration of the relevant trade is greater than £10,000.  The increase in the PTM Levy will come into effect on Monday 2 December 2024.  A joint letter from the Takeover Panel and the London Stock Exchange has been sent to all member firms confirming the proposed increase. 

2.      Rule 1092 of the Rules of the London Stock Exchange (the "Rules") requires member firms to ensure collection of the appropriate PTM Levy from their customers, regardless of whether the trades in question are executed under the Rules, on another exchange, multi-lateral trading facility or over-the-counter.

3.      Guidance regarding the application of the PTM Levy is available under the 'Checklists, Templates and Fees' section of the Takeover Panel's website at: http://www.thetakeoverpanel.org.uk/the-code/ptm-levy.

4.      Any queries relating to the PTM Levy should be addressed directly to the Takeover Panel on Telephone: 020 7382 9026 or by email to: ptmlevy@thetakeoverpanel.org.uk.

Liam Smith

Head of Market Supervision

This Stock Exchange Notice will be available on the website at https://www.londonstockexchange.com/resources/london-stock-exchange-notices

Calls to the London Stock Exchange plc may be recorded to enable the London Stock Exchange to carry out its regulatory responsibilities.