On 27 January 2014, the London Stock Exchange issued AIM Notice 38 to consult on proposed changes to the AIM Rules for Companies (the "AIM Rules") and the AIM Rules for Nominated Advisers (the "Nomad Rules"). The majority of the proposed changes are administrative or clarificatory in nature. There are, however, a few more substantive changes. Proposed amendments to the AIM Rules include additions to the list of information that must be available on a website, including details of the corporate governance code that the AIM company has decided to apply, how it complies with that code, or if no code has been adopted, disclosure of that fact. Proposed amendments to the Nomad Rules include proposed amendments to eligibility rules on change of control of a nominated adviser and continued eligibility of qualified executives.
Responses to the consultation were requested by 3 March 2014. The London Stock Exchange intends that the new rules will come into effect during 2014.
The AIM Notice 38 is available at:
http://www.londonstockexchange.com/companies-and-advisors/aim/advisers/aim-notices/aimnotice38.pdf
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
