Circular with notice of general meeting which is sent to the shareholders of a premium listed company seeking their approval of the company's proposed class 1 transaction. Its purpose is to provide a full explanation of the proposed class 1 transaction and its effects on the company, so that its shareholders are able to make an informed decision about whether or not to support the ordinary resolution approving the class 1 transaction. The Financial Conduct Authority (FCA) must approve the class 1 circular before it is sent to shareholders.

For more information, see Practice note, Listing Rules: LR 10: Significant transactions: Class 1 circulars.