Revised AIM Rules For Companies And Nomads

On 13 May 2014, the London Stock Exchange (the "Exchange") issued AIM Notice 39 to confirm changes to the AIM Rules for Companies (the "Aim Rules") and AIM Rules for Nominated Advisers (the "Nomad Rules"). Key changes to the AIM Rules include additional guidance relating to the disclosure of price sensitive information, and clarification that the requirement for shareholder consent for an AIM cancellation may be waived for a scheme of arrangement if it has been sanctioned by the courts and approved by shareholders. The AIM Rules also expand on the list of information that must be available on a website to include (among others):

• the date on which the details relating to the AIM securities in issue and significant shareholders was last updated;