Updated 05/02/2025
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Article 39 - Directive 2001/34/EC (Listing Directive)

Article 39

1. Where application for admission to official listing in one or more Member States is made and the securities have been the subject of a public-offer prospectus drawn up and approved in any Member State in accordance with Articles 7, 8 or 12 of Directive 89/298/EEC in the three months preceding the application for admission, the public-offer prospectus shall be recognised, subject to any translation, as listing particulars in the Member State or States in which application for admission to official listing is made, without its being necessary to obtain the approval of the competent authorities of that Member State or those Member States and without their being able to require that additional information be included in the prospectus. The competent authorities may, however, require that the prospectus include information specific to the market of the country of admission concerning, in particular, the income tax system, the financial organisations retained to act as paying agents for the issuer in the country of admission and the ways in which notices to investors are published.

2. Article 38(2) to (5) shall apply in the eventuality referred to in paragraph 1 of this Article.

3. Article 100 shall apply to all changes occurring between the time when the content of the prospectus referred to in paragraph 1 is adopted and the time when stock exchange dealings begin.