The following Corporate practice note provides comprehensive and up to date legal information covering:
A company applying for admission to trading on AIM (AIM admission) must meet the requirements of the AIM Rules for Companies (AIM Rules) as well as complying with:
the legal requirements for offers of securities in the United Kingdom (UK)
financial promotions restrictions
any legal requirements of a jurisdiction where the securities are being offered, and
if the company is incorporated outside the UK, the corporate and securities laws of the country of incorporation
This Practice Note deals with the requirements as they apply to a company incorporated in the UK which is not a ‘quoted applicant’. The London Stock Exchange offers an AIM fast-track admission route to certain companies which have had their securities traded on an AIM Designated Market (which includes the Official List) for at least 18 months prior to applying to AIM (referred to as quoted applicants in the AIM Rules). For more information see Practice Note: Admission to AIM—fast track route.
A company incorporated in the UK that is applying for AIM admission must be a validly incorporated public company limited by shares.
A private company limited by shares or by guarantee is not able to offer its securities to the public or to allot or agree to allot its securities with a view to them being offered to the public. Any private company will need to re-register as a public
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Elements of the offence of perverting the course of justicePerverting the course of justice is a common law offence which can only be tried on indictment in the Crown Court. The elements of the offence are:•a person acts or embarks on a course of conduct•which has a tendency to•and is intended to
Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. For guidance, see Practice Note: Coronavirus
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