Continuing obligations of an AIM company
Continuing obligations of an AIM company

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Continuing obligations of an AIM company
  • Brexit impact
  • The company's and directors' responsibility for compliance
  • Rules for specific sectors
  • Ongoing eligibility requirements
  • Disclosure obligations under the AIM Rules
  • Accounts requirements under the AIM Rules
  • Dealings in shares by directors and employees of an AIM company
  • Legal Entity Identifier
  • People with significant control (PSC) register
  • more

A company admitted to trading on AIM (AIM company) must comply with a number of rules called continuing obligations contained in the AIM Rules for Companies (AIM Rules) published by the London Stock Exchange plc (LSE). In addition, an AIM company should also be aware of the AIM Rules for Nominated Advisers setting out the responsibilities and obligations of the company’s nominated adviser and the AIM Disciplinary Procedures and Appeals Handbook.

There are other statutory rules and regulations which are relevant to an AIM company and these include the Companies Act 2006 (CA 2006), the Financial Services and Markets Act 2000 (FSMA 2000), the Financial Services Act 2012 (FSA 2012), the City Code on Takeovers and Mergers (Takeover Code), the Disclosure Guidance and Transparency Rules (DTR) and the Market Abuse Regulation (EU) No 596/2014.

This Practice Note focuses on the continuing obligations of an AIM company under the AIM Rules. It also considers guidance on the AIM Rules published by the AIM Regulation team in Inside AIM. The AIM Rules were last updated in July 2016 in order to reflect changes brought in by the Market Abuse Regulation (EU) No 596/2014. AIM Notice 45 sets out feedback on the changes.

Brexit impact

The London Stock Exchange has announced proposed amendments to its Rulebooks, including the