Class 2
A transaction for a listed company, the size of which results in a percentage ratio of 5% or more, but less than 25% under any one of the class tests set out in the Listing Rules. For a class 2 transaction, the Listing Rules require notification to a Regulatory Information Service of prescribed details of the transaction without delay after the terms of the transaction are agreed. Paragraph 10.4.1R(2) of the Listing Rules sets out the specific details required in the announcement (the same details are required for an announcement of a Class 1 transaction).
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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