AIM Flotations and Rules

Course Overview

The course covers all the important preparatory, marketing, regulatory, legal and taxation requirements for arranging and implementing a company’s flotation on AIM.

Participants will receive practical and detailed guidance on all stages of the process from the initial review of a company’s eligibility and suitability for flotation through to its continuing obligations post flotation.

The role, responsibility of each of the professional advisers will be described and, in view of the onerous responsibilities of the directors of a public company, the advantages and disadvantages of a quotation will be fully evaluated.

Course Content

Initial considerations

• Advantages and disadvantages of a quotation
• Suitability for a quotation
  • Fundamental questions
  • Market related questions
  • Business related questions
• The AIM rules surrounding the decision to float
• Tax status of AIM companies
• Corporate governance & codes of conduct

The parties and their roles

• The selection process
• The regulatory responsibilities of the Nomad
  • Gatekeeper & quality controller
• The Nomad as co-ordinator
  • Co-ordinating the advisers
  • Transaction management
• Stockbrokers
  • Before and after the issue
• Accountants
  • The long and short form reports
  • Working capital memorandum
  • Board memorandum
  • Comfort letters
• Solicitors
  • Verification of the Admission Document
  • Legal due diligence
• Other advisers

Preparation for flotation

• Methods of flotation
• Contents of the Admission Document
  • Arguing with the lawyers
  • Risk factors
• Building the investment case
• Valuation
  • DCF & NAV
  • Valuation by comparables
  • Short-cut valuation
• Marketing
  • Formulating a consistent message
  • The Roadshow
• Structuring the shareholder list
  • Pricing & allocation
• Post flotation

Delivering this course in-house for you to a number of participants could be very cost effective. Please call us on 020 7387 4484 to discuss this further.

If you have any questions about this seminar please write to us at post@redcliffetraining.co.uk.