AIM Rules for Companies

AIM Rules for Companies

Part One – AIM Rules
Retention and role of a nominated adviser
1. In order to be eligible for AIM, an applicant must appoint a nominated adviser and an 
AIM company must retain a nominated adviser at all times. 
The nominated adviser is responsible to the Exchange for assessing the 
appropriateness of an applicant for AIM, or an existing AIM company when appointed as 
its nominated adviser, and for advising and guiding an AIM company on its 
responsibilities under these rules.
The responsibilities of nominated advisers are set out in the AIM Rules for Nominated 
Advisers. 
If an AIM company ceases to have a nominated adviser the Exchange will suspend 
trading in its AIM securities. If within one month of that suspension the AIM company
has failed to appoint a replacement nominated adviser, the admission of its AIM 
securities will be cancelled.
Applicants for AIM
Early notification and pre-admission announcement
2. An applicant’s nominated adviser must submit an early notification to the Exchange, in 
the form prescribed from time to time, as soon as reasonably practicable and in any event
prior to the submission of any Schedule One information.
An applicant must provide the Exchange, at least ten business days before the 
expected date of admission to AIM, with the information specified by Schedule One.
A quoted applicant must provide the Exchange, at least twenty business days before 
the expected date of admission to AIM, with the information specified in Schedule One 
and its supplement.
If there are any changes to such information prior to admission, the applicant must 
advise the Exchange immediately by supplying details of such changes. Where, in the 
opinion of the Exchange, such changes result in the information being significantly 
different from that originally provided, the Exchange may delay the expected date of 
admission for a further ten business days (or twenty business days in the case of a 
quoted applicant).
The Exchange will notify RNS of information it receives under this rule.
Admission document
3. An applicant must produce an admission document disclosing the information specified 
by Schedule Two.
An applicant must take reasonable care to ensure that the information contained in the 
admission document is, to the best of the knowledge of the applicant, in accordance 
with the facts and contains no omission likely to affect the import of such information.

A quoted applicant is not required to produce an admission document unless it is 
required to publish a Prospectus in relation to the issue of AIM securities which are the 
subject of admission. 
Omissions from admission documents
4. The Exchange may authorise the omission of information from an admission document
(other than a Prospectus) of an applicant where its nominated adviser confirms that:
— the information is of minor importance only and not likely to influence assessment of 
the applicant’s assets and liabilities, financial position, profits and losses and 
prospects; or
— disclosure of that information would be seriously detrimental to the applicant and its 
omission would not be likely to mislead investors with regard to facts and 
circumstances necessary to form an informed assessment of the applicant’s
securities.
Application documents
5. At least three business days before the expected date of admission, an applicant must 
submit to the Exchange a completed application form and an electronic version of its 
admission document. These must be accompanied by the nominated adviser’s 
declaration required by the AIM Rules for Nominated Advisers.
At least three business days before the expected date of admission, a quoted applicant
must submit to the Exchange an electronic version of its latest annual accounts and a 
completed application form. These must be accompanied by the nominated adviser’s 
declaration required by the AIM Rules for Nominated Advisers.
The AIM fee will be invoiced to the applicant and should be paid pursuant to rule 37.
Admission to AIM
6. Admission becomes effective only when the Exchange issues a dealing notice to that 
effect.
Special conditions for certain applicants
Lock-ins for new businesses
7. Where an applicant’s main activity is a business which has not been independent and 
earning revenue for at least two years, it must ensure that all related parties and 
applicable employees as at the date of admission agree not to dispose of any interest in
its securities for one year from the admission of its securities.
This rule will not apply in the event of an intervening court order, the death of a party who 
has been subject to this rule or in respect of an acceptance of a takeover offer for the AIM 
company which is open to all shareholders.
Investing companies
8. Where the applicant is an investing company, a condition of its admission is that it 
raises a minimum of £6 million in cash via an equity fundraising on, or immediately before, 
admission.
An investing company must state and follow an investing policy. 
An investing company must seek the prior consent of its shareholders in a general 
meeting for any material change to its investing policy. 

AIM Rules for Companies