Practical Law UK Glossary 5-107-5916 (Approx. 5 pages)
Glossary
Class tests (Listing Rules)
Tests used to classify a transaction by a premium listed company which is outside its ordinary course of business. Annex 1 to Listing Rule 10 sets out four class tests (sometimes referred to as percentage ratio tests). Each class test involves calculating a percentage ratio which assesses the size of the transaction relative to the size of the company. The class tests are: