Verification notes definition

View the related practice notes about Verification notes

Admission to AIM—due diligence and verification

Admission to AIM—due diligence and verification Part of the process when a company applies for an initial admission to trading on AIM (AIM admission) will be an investigation into the company's financial and commercial position and prospects, as well as the risks associated with the company's business. Due diligence carried out in connection with an AIM admission will be more comprehensive and detailed than that carried out on an acquisition. Whereas in the case of an acquisition the buyer may be willing to accept certain issues on the basis of the contractual protections in place in an AIM admission, these contractual protections do not exist and the company, its directors and the nominated adviser (nomad) have to comply with the AIM Rules for Companies (AIM Rules) and the AIM Rules for Nominated Advisers (Nomad Rules). Further to this the company and its directors may have civil and criminal liability for any information published which is inaccurate or misleading. See Practice Notes: Misleading statements under the Financial Services...

View the related precedents about Verification notes

List of documents—initial admission to and placing on AIM

List of documents—initial admission to and placing on AIM References to ‘AIM Rules’ are to the AIM rules for Companies, to ‘PRR’ are to the Prospectus Regulation Rules, to ‘DTR’ are to the Disclosure Guidance and Transparency Rules, to the ‘PR Regulation’ are to Retained Regulation (EU) 2019/980, to the ‘LSE’ are to the London Stock Exchange plc and to the ‘nomad’ are to company’s nominated adviser. Preliminary documents Document Responsibility Status List of parties Nomad Timetable Nomad List of documents Nomad Engagement letters Document Responsibility Status Nomad’s engagement letter Nomad Broker’s engagement letter Broker Reporting accountants’ engagement letter Reporting accountants Company’s solicitors’ engagement letter Company's solicitors Nomad’s solicitors’ engagement letter Nomad’s solicitors Printer’s engagement letter Printer Registrar’s engagement letter Registrar Public relations firm engagement letter Public relations firm [Competent person's engagement letter] [Competent person(s)] Key documents Document Responsibility Status Pathfinder admission document [and prospectus] All parties Final admission document [and...

Memorandum on directors’ responsibilities and potential liabilities in respect of an AIM admission document

Memorandum on directors’ responsibilities and potential liabilities in respect of an AIM admission document 1 Introduction 1.1 This memorandum has been prepared for those persons who are to be named in the document to be published by [insert name of company] (the Company) as directors or proposed directors of the Company (the Directors) in connection with the proposed admission (the Admission) of the ordinary shares of the Company to trading on AIM, a market operated by the London Stock Exchange plc (the LSE). 1.2 An AIM admission document (the Admission Document) is required to be prepared by the Company in connection with the application for the Admission. The Admission Document will disclose financial and other information about the Company[ and its subsidiaries] and must be prepared in accordance with the requirements of the AIM Rules for Companies published by the LSE (the AIM Rules). 1.3 The Directors (among others) are responsible for the contents of the Admission Document and a...