Private censure and fine for breach of AIM Rules

An unnamed AIM company has been privately censured and fined £90,000 by the AIM Executive Panel. The company failed to notify the market, without delay, of transactions with known related parties, in breach of Rule 13 of the AIM Rules for Companies. It also breached Rule 31 by failing to take into account the advice of its nominated adviser (nomad) and failing to provide the nomad with complete information. Broadly, ‘related party’ under the AIM Rules means any current or recent director or substantial shareholder (or any associate of either). For these purposes ‘recent’ means the 12-month period preceding the transaction and substantial shareholder means anyone who controls the exercise of 10 per cent. or more of the votes able to be cast at a general meeting…

Click on the link below to read the rest of the Walker Morris briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Walker Morris

View more briefings from Walker Morris

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

Kings Court
12 King Street
Leeds
LS1 2HL
UK
http://www.walkermorris.co.uk

Turnover (£m): 42.50
No. of lawyers: 188