London Stock Exchange Announces New Rules for AIM Listed CompaniesTuesday 25 September 2018
London Stock Exchange Announces New Rules for AIM Listed Companies
The London Stock Exchange has announced that all AIM listed companies will be required to apply a recognised corporate governance code and explain how they do so from 28th September 2018.
The announcement was made along with a raft of other new AIM rules that will come into force on 31st March 2018.
The new rules cover:
- Formalising the early notification proceess
- Guidance on approriateness of applicants
- Corporate Governance - The updated AIM Rules for Companies released state:
- “Each AIM company must from admission maintain a website on which the following information should be available, free of charge: Details of a recognised corporate governance code that the board of directors of the AIM company has decided to apply, how the AIM company complies with that code, and where it departs from its chosen corporate governance code an explanation of the reasons for doing so. This information should be reviewed annually and the website should include the date on which this information was last reviewed; (Footnote: The implementation of this requirement will take effect from 28 September 2018. However, all new applicants from 30 March 2018 will be required to state which corporate governance code they intend to follow but otherwise will have until 28 September 2018 to comply.)”
These changes can be seen in the full document (rule 26, pages 11-12) and a marked-up version highlighting the changes made since the previous version.
The London Stock Exchange has announced new rules for AIM Listed Companies, which will come into force on 31st March 2018.