Corporate governance for an AIM company
Corporate governance for an AIM company

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

  • Corporate governance for an AIM company
  • The corporate governance framework
  • The AIM Rules, the Nomad Rules and LSE guidelines
  • The QCA Code
  • PLSA AIM Guidelines
  • ISS Proxy Voting Guidelines
  • Glass Lewis Proxy Paper Guidelines
  • ECG Guidelines

The corporate governance framework

The principal framework for corporate governance in the UK is the UK Corporate Governance Code (UKCG Code). Under the Listing Rules and the Disclosure Guidance and Transparency Rules (DTRs) the UKCG Code applies to both UK and overseas companies with a premium listing of equity shares. It does not apply to a company admitted to trading on AIM (AIM company).

There are various rules and guidelines which provide an AIM company incorporated in the UK with guidance as to best practice in respect of the corporate governance regime that should be put in place. This Practice Note focuses on these rules and guidelines. For further information on the UKCG Code see Practice Note: The UK Corporate Governance Code.

The rules and guidelines relevant to corporate governance for an AIM Company are found in:

  1. the AIM Rules for Companies (AIM Rules), the AIM Rules for Nominated Advisers (Nomad Rules) and guidelines published by the London Stock Exchange (LSE), eg the newsletter Inside AIM (LSE Guidelines)

  2. the Quoted Companies Alliance's Corporate Governance Code (QCA Code)

  3. the Corporate Governance Policy and Voting Guidelines for Smaller Companies (PLSA AIM Guidelines) published by the Pensions and Lifetime Savings Association (PLSA) (formerly the National Association of Pension Funds)

  4. the United Kingdom and Ireland Proxy Voting Guidelines (ISS Proxy Voting Guidelines) published by Institutional