Drawdown Prospectus (DDP) is a shortcut way to register a prospectus under the EU Prospective Directive.
According to the EU Prospectus Directive, Drawdown Prospectus (DDP) is a shortcut procedure for registering a prospectus, a document that includes information about the securities being issued for sale to investors as well as the business plan of the issuing company. The Financial Services Authority (FSA), a securities regulator in the United Kingdom, accepts the Drawdown Prospectus in compliance with the EU Prospectus Directive. When submitting a prospectus for approval, the FSA recognizes referencing of documents to other prospectuses or a base prospectus that the U.K. Listing Agency (UKLA), an agency responsible for keeping a registrar of all securities traded in the U.K., has already approved.
Form A
Form A is the application form a company that wants to register a prospectus must submit to the Financial Services Authority. It is a standardized one-page document that states that the applicant is providing complete and accurate information requested by the FSA.
Issuer Contact Details Form
Issuer Contact Details Form is another one-page document that the applicant for a Drawdown Prospectus has to submit. It includes the full name of the issuer and information on how the issuer can be reached, including the contact person (usually company secretary) and her contact details.
Information Incorporated by Reference
The application should also include the information incorporated by reference, i.e., information that the issuer wants to copy from another already approved prospectus or base prospectus.
Fee
The FSA registration fees differ, depending on the issuer and the securities of the prospectus submitted for registration. The Drawdown Prospectus as of June 2010 costs £660 plus a vetting fee of between £1,430 and £6,270, depending on the securities of the prospectus.
Other Information the FSA may Require
The FSA has the right to ask for additional documents as it sees fit. It may need additional information about the issuer or the securities of the submitted prospectus.
