Practical Law UK Glossary 4-107-7341 (Approx. 4 pages)
Glossary
Substantial shareholder (LR)
Under the Listing Rules (LR), 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 premium listed company (or of any subsidiary undertaking or parent undertaking of the listed company, or of a fellow subsidiary undertaking of the listed company's parent undertaking). Certain voting rights are disregarded for this purpose such as those exercised independently in the capacity as bare trustee or investment manager.