Irish Stock Exchange changes its corporate structure to a plc.
The Irish Stock Exchange (ISE) has formed a new corporate structure and has become a public limited company: The Irish Stock Exchange plc.
From a business perspective, the transition to the new corporate structure has been seamless.
All operations, services and processes previously undertaken by The Irish Stock Exchange Limited are now being undertaken by The Irish Stock Exchange plc. All staff who previously worked for The Irish Stock Exchange Limited are now employed by The Irish Stock Exchange plc.
The change in corporate structure has been approved by the Central Bank of Ireland and the ISE has also engaged with the Department of Jobs, Enterprise and Innovation. All regulatory rights and responsibilities have transferred to the new entity and the ISE continues to be regulated by the Central Bank of Ireland.
Deirdre Somers, Chief Executive of the ISE, said, “We are excited to start this new chapter in the Irish Stock Exchange’s 200 year history. This new legal structure brings the ISE more in line with corporate norms which we believe is more appropriate for the successful, diverse international business that the ISE has become. This change also provides us with greater flexibility for our future development which is of benefit to all our customers and stakeholders.”
The Irish Stock Exchange plc
The ISE’s new corporate structure, The Irish Stock Exchange plc, is a company limited by shares. There are seven shareholders in the new company who are:
- J & E Davy
- Goodbody Stockbrokers
- Investec Capital & Investments (Ireland) Limited
- Campbell O’Connor & Co
- Cantor Fitzgerald Ireland Limited
- Royal Bank of Scotland N.V
- Davy Corporate Finance (purely as a nominee)
The Board of Directors is made up of 10 Directors, 9 Non-Executive Directors and 1 Executive Director:
Chief Executive Deirdre Somers
The Company Secretary is Brian Healy.
The Irish Stock Exchange Limited
The Exchange’s former structure, The Irish Stock Exchange Limited, is a company limited by guarantee and has been in place since 1995. The guarantors are the same entities which are now shareholders in The Irish Stock Exchange plc.
Head of Public Affairs and Communications
Telephone +353 1 617 4200+353 1 617 4200
Mobile + 353 87 2380265+ 353 87 2380265
Press release by The Irish Stock Exchange
Follow us on Twitter - @DigiPrintNews
Like us on Facebook www.facebook.com/DPNLive - (click the ‘LIKED’ button/top of page as well)