FEES FOR ISSUERS

FEES FOR ISSUERS

Introduction
This document contains details of London Stock Exchange plc fees for both United Kingdom incorporated (‘UK’) 
companies and overseas incorporated (‘international’) companies admitting securities to trading on the 
following London Stock Exchange markets: the Main Market, Professional Securities Market and International
Securities Market. The fees are also payable for securities that are admitted to trading via an EU competent authority 
passport and any other securities that are admitted to trading without seeking admission to the Official List. 
This document should be read in conjunction with the Admission and Disclosure Standards.
This document also contains a summary of admission and annual fees payable by AIM companies (see page 15). 
The full AIM fees for companies and nominated advisers brochure is available at: 
https://www.londonstockexchange.com/resources/raise-finance-resources?tab=aim.
Admission fees are payable on all applications for securities to be admitted to trading on any of London Stock 
Exchange’s markets. An invoice for the admission fee will be raised at that time. Payment of admission fees must be 
received no later than 30 days after the date of such invoice. In the case of equity issues admitted to the Main 
Market, the Professional Securities Market or admitted to trading without seeking admission to the Official List, the 
same fee scale is applied for admission fees – for new companies joining the market and for further issues of 
securities by companies already admitted, based on the market capitalisation of those securities at admission. 
Companies subject to a reverse takeover pay admission fees according to the new company scale. For AIM 
admission fees, there are two separate fee scales, one for new companies joining the market and the other for 
further issues of securities by companies already admitted, based on the market capitalisation of those securities at 
admission. The Main Market includes the following segments: i) securities admitted to the Official List, ii) the 
Specialist Fund Segment and iii) the High Growth Segment. An admission fee is payable for transfer between these 
three segments. In the event of an application being made where more than one line of security is being admitted, 
a separate fee will be charged for each class of security, according to the relevant schedule. A transfer of existing 
shares from Admission to Trading (ATT)
to the Main Market may be eligible for a discount on the admission fee. If 
the transfer is made within three months of being admitted to ATT, a 75% discount applies. If the transfer is made 
between three and 12 months, a 50% discount applies. Transfers made after 12 months are not entitled to a discount. 
Admission fees are not refundable, including where securities cease to be traded. For rights issues the market 
capitalisation is based on the issue price available from the prospectus. 
Non-chargeable applications
The following is a list of non-chargeable transactions for companies admitted to the Main Market, the Professional 
Securities Market or otherwise admitting to trading:
• Capital reorganisation
• Sub-division of capital
• Consolidation of capital
• Redenomination of capital
• Capitalisation of reserves
• The reclassification of shares in order to liquidate a company under a scheme for reconstruction
• Block listings for issue of shares under employee share schemes with market capitalisation below £2 million 
• Further issue of shares to staff and directors under an employee scheme (for example long term incentive 
scheme, performance bonuses, exercise of options) with market capitalisation below £2 million 3,4
• Further issues of shares issued under an existing offer for subscription
• Substitution of issuer
• A transfer of existing shares between the segments of Main Market executed within a 12-month period of the 
initial admission of those shares
• Further issues of shares issued under a capitalisation (or bonus issue) in lieu of dividend with a market 
capitalisation below £0.2 million per issuance

Block listings are defined in our Admission and Disclosure Standards. 
If in doubt, or for clarification, issuers or their advisers should contact Market Operations on +44 (0)20 7797 4310 
or email admissions@lseg.com.
Annual fees are payable by all companies that have either equity securities or certificates representing shares 
admitted to trading, and by issuers of all exchange traded funds (ETFs) and exchange traded commodities (ETCs). 
Annual fees are billed for:
• Equity securities or certificates representing shares, in January 2024 for 12 calendar months commencing 1 
January to 31 December
• ETFs and exchange traded products (ETPs), in January 2024 for 12 calendar months commencing 1 January to 
31 December
Annual fees are to be paid by Direct Debit where possible. A pro-rata portion of the annual fee is payable by all 
issuers of equity securities and certificates representing shares when commencing trading on London Stock 
Exchange for the first time part way through the year. From 1 January 2021, the pro-rata portion is based on the 
calendar year (January – December). No additional pro-rata annual fee is payable for companies transferring 
between markets. 
The annual fee is for each year or part thereof and is therefore not refundable, including where securities cease to 
be traded. The minimum annual fee is payable by suspended issuers where applicable.
No additional annual fee is payable by a company admitted to trading as a result of a reverse takeover or a 
readmission.
Definitions of terms used in this publication are included in London Stock Exchange’s Admission and Disclosure 
Standards and the AIM Rules for Companies. 
Fees calculator
A fees calculator is available for the calculation of admission and annual fees for equity and certificates representing 
shares on the London Stock Exchange website: https://www.londonstockexchange.com/raise-finance/equity/how-list-equity/calculating-fees.
Payment details
United Kingdom (UK) Value Added Tax (VAT), currently at 20%, must be added to the fee derived if the issuer is 
subject to UK VAT. It is the obligation of an applicant to confirm whether or not they are liable for VAT. Where an 
applicant fails to confirm their VAT liability, VAT will be charged at the prevailing rate. Broadly, companies with their 
principal place of business in the UK will be considered subject to UK VAT.
Interest may be added on overdue payment (before and after any judgement) at the Bank of England base rate (as 
varied from time to time) plus 3%.
Payment of admission fees
Payments should be made by BACS transfer to the account of the London Stock Exchange at:
HSBC plc
Poultry, London EC2P 2BX, United Kingdom
Our account details are:
Account Name: Stock Exchange General Account
Sort Code: 40-05-30
Account Number: 41525727
IBAN: GB27MIDL40053041525727
Payments must be made in pounds sterling only.
Where payments are transmitted by BACS, please ensure you send a remittance advice to our Credit Control 
team. Remittances can be sent by email to capitalmarketscreditcontrol@lseg.com or by post to:
Credit Control
London Stock Exchange Plc
10 Paternoster Square, London EC4M 7LS
United Kingdom
Alternatively, payments can be made by cheque which should also be sent to the above address.

FEES FOR ISSUERS