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NICK LANGFORD 7 NOVEMBER 2006

NICK LANGFORD 7 NOVEMBER 2006. Getting Ready for AIM. Benefits. Initial and further capital raising Profile Valuation Employees. A choice of complementary markets. A choice of globally respected markets supported by a wide range of institutional & retail investors. Main Market.

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NICK LANGFORD 7 NOVEMBER 2006

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  1. NICK LANGFORD7 NOVEMBER 2006 Getting Ready for AIM

  2. Benefits • Initial and further capital raising • Profile • Valuation • Employees

  3. A choice of complementary markets A choice of globally respected markets supported by a wide range of institutional & retail investors Main Market Supports more established companies seeking further growth. 1,607 issuers Supports earlier stage companies in their initial growth period. 1,590 issuers UK Listing Authority Nominated Adviser (Nomad) Sponsor

  4. The world’s most successful growth market

  5. Admission Criteria • No minimum size to be admitted • No trading record required • No minimum amount of shares to be in public hands • In most cases, no prior shareholder approval required for transactions • Admission documents not pre-vetted by Exchange or UKLA but by nominated adviser • Nominated Adviser and Broker required at all times

  6. Principles of disclosure - AIM rule 10 • Information required by AIM rules must be notified by the Company no later than it is published elsewhere • Company must retain a Regulatory Information Service (RIS) to enable it to notify information • Company must take reasonable care that any information it notifies is not misleading, false or deceptive and does not omit anything. • Presumed that information notified is required by these rules or a legal or regulatory requirement

  7. General disclosure - AIM rule 11 • An AIM Company must issue notification without delay of any new developments which are not public knowledge concerning a change in: • its financial condition • its sphere of activity • the performance of its business • its expectation of its performance

  8. General disclosure - AIM rule 11 • … which, if made public, would be likely to lead to a substantial movement in the price of its AIM securities

  9. Specific miscellaneous disclosures Key disclosures: • Directors, Shareholders, Advisers • Any material change between its actual trading performance or financial condition and any profit forecast, estimate or projection • Other changes

  10. Disclosure of financial information Half yearly reports (no audit requirement): • must be notified without delay, and not later than three months after the end of the relevant period Audited annual accounts: • UK or US GAAP or IAS – Changes Jan 2007 • Accounts must be sent to shareholders without delay, and not later than six months after the end of the relevant period

  11. Corporate Governance Is NOT mandated in AIM Rules HOWEVER… Corporate Governance best practise demonstrates the company is managed in an efficient and effective manner Recognised and in some cases required by Institutional Investors

  12. AIM key statistics 1,590companies 1307 UK 283 International 330new companies in 2006: 244UK 86International £34.30bnraised since 1995 £10.3bnraised in 2006

  13. AIM companies by market value

  14. AIM total money raised 2006

  15. AIM sectors

  16. Contact Nick LangfordHead of UK Business Development0207 797 3403nlangford@londonstockexchange.com

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