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AIMing for SME Growth Market Status

The London Stock Exchange has applied to the Financial Conduct Authority for AIM to be registered as a SME Growth Market on 3 January 2018.

This new designation is being brought about by the Markets in Financial Instrument Directive (“MiFID II”) as part of the European Commissions’ capital markets plan.

As a consequence, minor amendments will need to be made to AIM Rule 26 regarding company information disclosures that are required to be freely available on its website. Essentially, the following information will need to remain on a company’s website for the longer period of 5 years:

  • annual accounts and all half-yearly, quarterly or similar reports,
  • regulatory notifications containing inside information
  • any prospectus published on or after 3 January 2018.

The 5 year requirement will not be retrospective for disclosures made prior to 3 January 2018.

The AIM Rules will also see a new definition of “SME growth market”.

© Copyright 2020 Squire Patton Boggs (US) LLPNational Law Review, Volume VII, Number 340
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About this Author

Andrew Glaze Corporate Transactional Attorney Squire Patton Boggs Birmingham, UK
Partner

Andrew Glaze is a partner in our Corporate Practice Group based in our Birmingham office. He has over 17 years of experience advising clients on the full range of corporate transactions.

Andrew specializes in mergers and acquisitions and corporate finance transactions including takeovers, mergers, reconstructions and joint ventures and has advised in connection with a number of hostile and recommended public takeovers and equity market fundraisings.

Andrew provides specialist advice to FTSE, AIM and private groups in relation to all aspects of company law and regulatory...

44 121-222-3032
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