Changes to the AIM Rules effective May 2014

The London Stock Exchange has issued AIM Notice 39 confirming recent changes made to the AIM Rules and to the AIM Rules for Nominated Advisers, following consultation. The majority of the changes are clarifications of the Rules rather than substantive amendments, but AIM companies will have to take action by 11 August 2014 in relation to their websites to ensure they are compliant with the following:

  • details must be given of the corporate governance code that the company has decided to apply, and, if none, a statement to that effect and a statement of current corporate governance arrangements;
  • a statement must be included as to whether the company is subject to the UK City Code on Takeovers and Mergers, or any similar code or legislation where it is incorporated or operates, or details given of any similar provisions it has voluntarily adopted;
  • details should be included as to the date on which the details of the AIM securities in issue and the identity and percentage holdings of significant shareholders was last updated; and 
  • annual accounts for the last three years (or, if admitted for less than this period, since admission) must be made available.

A link to the London Stock Exchange notice is here

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