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Consultation on proposed changes to the AIM Rules

Print publication

21/09/2017

The London Stock Exchange has issued AIM Notice 46 to announce that it is consulting on proposed changes to the AIM Rules for Companies and the AIM Rules for Nominated Advisers.

The discussion paper sets out proposals to change the AIM Rules in a number of areas:

  • the role of the Nomad, including the possible extension of the early notification process and discussion of the use of the LSE’s discretion under AIM Rule 9 to delay or refuse a proposed admission;
  • eligibility criteria and, in particular, whether to mandate a minimum free float requirement or a minimum fundraising threshold;
  • the adequacy of existing corporate governance disclosures relating to board composition and corporate governance disclosures under AIM Rule 26;
  • possible automatic fines for breaches of the AIM Rules.

WM comment

Responses to the discussion paper were requested by 8 September 2017 after which the LSE will then draft changes to the Rules for consultation. We will keep you updated with the changes.

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