AIM Rule 26 - IR26 - Website Design for AIM Listed Companies
On 20th February 2007 The London Stock Exchange introduced new rules (IR26) for companies whose shares are traded on the Alternative Investment Market (AIM).The new rule (AIM Rule 26) requires all AIM-listed companies to feature a statutory minimum of Investor Relations information on their website.
Each AIM company must from admission maintain a website on which the following information should be available to view, free of charge:
- A description of its business and, where it is an investing company, its investing policy and details of any investment manager and/or key personnel;
- The names of its directors and brief biographical details of each, as would normally be included in an admission document;
- A description of the responsibilities of the members of the board of directors and details of any committees of the board of directors and their responsibilities;
- Its country of incorporation and main country of operation;
- Where the AIM company is not incorporated in the UK, a statement that the rights of shareholders may be different from the rights of shareholders in a UK incorporated company;
- Its current constitutional documents (e.g. its articles of association);
- Details of any other exchanges or trading platforms on which the AIM company has applied or agreed to have any of its securities (including its AIM securities) admitted or traded;
- The number of AIM securities in issue (noting any held as treasury shares) and, insofar as it is aware, the percentage of AIM securities that is not in public hands together with the identity and percentage holdings of its significant shareholders. This information should be updated at least every 6 months.
- Details of any restrictions on the transfer of its AIM securities;
- Its most recent annual report published pursuant to rule 19 and all half-yearly, quarterly or similar reports published since the last annual report pursuant to rule 18;
- All notifications the AIM company has made in the past 12 months;
- Its most recent admission document together with any circulars or similar publications sent to shareholders within the past 12 months; and
- Details of its nominated adviser and other key advisers (as might normally be found in an admission document).
Penalties
If the LSE considers that an AIM company has contravened these rules, it may take one or more of the following measures:
- Issue a warning notice
- Fine the company
- Censure the company
- Cancel the admission of it's AIM securities; and
- Publish the fact it has been fined or censured and the reason for that action.
Source: London Stock Exchage - AIM Rules for Companies
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