[Last updated: 1 January 2024, unless otherwise noted]

There are no additional requirements, or any changes in the normal requirements, that apply to very large multinational companies or smaller companies.

Investing companies. Investing companies are subject to additional admission and maintenance requirements set out in further rules and guidance issued by the AIM team at the LSE. An investing company is defined as any AIM company which has as its primary business or objective, the investing of its funds in securities, businesses or assets of any description. Such companies are required to raise at least £6 million (approximately US$7.64 million) in cash via an equity fundraising on or immediately before admission to trading on AIM. In addition, an investing company must state and follow an investing policy. If the investing company has not substantially implemented its investing policy within 18 months of admission, it must seek the consent of shareholders for its investing policy at its next annual general meeting and subsequent annual general meetings until the policy has been substantially implemented.

Oil, gas and natural resources. Oil, gas and natural resource companies are required to adhere to specific further rules and guidance issued by the AIM team at the LSE. The most significant requirement is that their Admission Document contain an independently produced report by a competent person into the assets and liabilities of the company (such as an expert's report). The AIM Rules describe the minimum qualifications and experience required of the author of such a report.

Fast track admission procedure. A fast-track admission procedure is available for companies already listed on an AIM Designated Market. The current AIM Designated Markets are any UK or EEA Regulated Market or SME Growth Market and registered in accordance with the relevant laws and top tier markets of the Australian Securities Exchange, Johannesburg Stock Exchange, Nasdaq, NYSE, SIX Swiss Exchange, TMX Group and the UKLA Official List.

This fast-track route is available to any company which has had its securities traded on the top tier or main board of a Designated Market for at least 18 months prior to the date of admission to AIM. It enables the company to seek admission to AIM without needing to produce an Admission Document. Instead, the company must comply with the early notification requirement and produce a pre-admission announcement at least 20 clear business days prior to the proposed date of admission containing:

• Certain specified information (such as settlement arrangements and details of any lock-ins).
• The address of a website containing the company’s latest published annual report and accounts (prepared in accordance with accounting standards currently acceptable under the AIM rules) which must have a financial year end not more than nine months prior to admission (otherwise interim accounts will be required).
• Confirmation that the company has adhered to the legal and regulatory requirements of the relevant AIM Designated Market.

To the extent that this previously publicly disclosed information does not provide equivalent information to that required in an Admission Document, further disclosure in the pre-admission announcement will be necessary.

If the company is admitted to a UK or EU regulated market or a SME Growth Market only, it must also have a market capitalization of at least £20 million (approximately US$25.46 million) upon admission to AIM and have its admission documentation on its home market and all disclosure required under the UK MAR or EU MAR (as applicable) published in English.

Any company seeking an admission through the fast-track procedure is still required to retain a Nomad at all times. The Nomad is required to confirm that:

• The directors have been advised as to the nature of their obligations under the AIM Rules.
• The company and its securities are appropriate to be admitted to AIM.
• The Nomad has carried out due and careful enquiry to ensure that the information required by the AIM Rules is disclosed in the announcement.