Overseas companies - reminder if listed abroad
AIM offers the AIM Designated Market route (formerly called the Fast Track route), which is a streamlined admission process available to companies that have had their securities traded abroad on an AIM Designated Market ("ADM") for at least 18 months prior to the date of admission to AIM.
Instead of an AIM admission document, companies are required to make a detailed pre-admission announcement which has to be made at least 20 clear business days prior to the date of admission. This announcement must include, among other things:
- the size of any capital raising in conjunction with the application for admission to AIM;
- details of the business of the company and its intended strategy following admission;
-a description of significant changes in the financial or trading position of the company since the date to which the last audited accounts were prepared;
- a statement that the directors have no reason to believe that the company's working capital will be insufficient for at least 12 months from the date of its admission to AIM;
- any other information which has not been made public which would otherwise be required of an AIM applicant; and
- the address of a website containing the company's latest published annual report and accounts (prepared in accordance with accounting standards currently acceptable under the AIM rules) which must have a financial year end not more than nine months prior to admission (otherwise interim accounts will be required).