In order to list your company on AIM, there are a number of requirements that you will be required to meet. Below we list these requirements, in addition to other key issues that your company should consider prior to proceeding with an admission to AIM.
To meet the listing requirement, you must:
- select and appoint a nominated adviser;
- be deemed “appropriate” for the market, as judged by company´s nominated adviser;
- appoint a broker;
- prepare Admission document;
- have no restrictions on the free transferability of your company´s shares; pay a flat rate annual fee (that will vary upon your company’s size);
- complete the application form which should be signed by the directors.
Other issues for consideration:
- appointing a legal advisor, reporting accountant, and investor relations adviser;
- readiness to be open in terms of your company´s finances, business strategy, new development announcements, to keep investors informed.
The admission process
As with all significant steps that a growing business takes, adequate planning in advance is essential. When it comes to an admission on AIM, this is not just good practice but is a must in order to ensure that you meet all of the AIM requirements and achieve a successful listing.
Find following an AIM admission timetable that shows what you should be doing in the weeks leading up to admission:
From 16 to 24 weeks
- appoint and instruct advisors
- reviw any problem areas
- agree timetable
From 12 weeks
- commerce legal, financial and commercial due diligence process
- produce draft admission document
- prepare draft legal, financial and commercial agreements as required
- initial revie of pricing issues
- review PR presentations
- host analyst presentations
From 6 weeks
- finalise draft admission document
- finalise due diligence process
- finalise all agreements
- hold PR meetings and roadshows
1-2 weeks before admission
- all documents completed and approved
- submit 10 day announcement to Exchange of intention to join AIM
- pricing and allocation of the offer
- register admission document
How can we help you with your admission to AIM
Our team can advise your company of each and every stage in the process of achieving an AIM listing, we can help with the following aspects:
- Review of appropriateness of flotation and choice of stock market
- Time schedule, planning and budgeting of the transaction
- Preparation and review of Business plan and Financial model
- Business valuation
- Introduction and approaching pre-IPO investors
- Introduction to nominated advisors and stock brokers
- Liasing with the stock market authorities
- Assisting with Prospectus preparation
- Additional services such as tax consultancy, contact to brokers and law firms
If you would like andy advice on any of these matters, please email one of our AIM team who have significant experience in advising companies in all areas relating to AIM
