Extraordinary items - Another case of shelf abuse

The London Stock Exchange has issued a consultation document for its plans for a system of shelf registration.

The idea is that companies that have already bared their souls will not have to issue fulsome documents every time they have a rights issue, for example. The key reference documents are already "on the shelf", as it were.

The document can be seen at the special Website set up by the exchange, the self-styled "UK Listing Authority": the address is www.listing.co.uk.

Do not type in www.listing.com - unless you're more interested in surfing a lonely hearts Website and don't really care about raising equity.