substantial shareholder

substantial shareholder
Under the Listing Rules, any person who is entitled to exercise or to control the exercise of 10% or more of the votes able to be cast on all or substantially all matters at general meetings of the company (or of any company which is its subsidiary undertaking or parent undertaking or of a fellow subsidiary undertaking of its parent undertaking). Certain voting rights are to be disregarded for this purpose such as those exercised independently in the capacity as bare trustee or investment manager.
The glossary to the FSA Handbook sets out the full definition of this term. When considering this term in the context of financial services, reference should be made to the FSA Handbook glossary definition of substantial shareholder.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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