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AIM Rules – LSE confirms changes dealing with directors' remuneration and electronic communication
On 17 February 2010, the London Stock Exchange published feedback on the consultation which it announced in December 2009 and confirmed the amendments being made to the AIM Rules for Companies (AIM Rules). The LSE has also published an updated version of the AIM Rules. A summary of the changes is set out below.
Directors' remuneration
AIM Rule 19 (Annual accounts) has been amended to require companies to disclose directors' remuneration in the annual accounts. This requirement will apply to AIM companies in respect of financial years ending on or after 31 March 2010.
Electronic communication
The guidance notes to AIM Rules 14 (Reverse take-overs) and 19 (Annual accounts) have been amended to enable all AIM companies to use electronic communications to send accounts and admission documents to shareholders. In order to communicate electronically with shareholders, companies must either comply with the relevant provisions of the Companies Act 2006 or satisfy the specific requirements set out in the guidance notes to AIM Rules 18 and 19.
View AIM Notice 36 (5 page pdf).
View the amended AIM Rules for Companies (46 page pdf).
26 February 2010