Companies listing on the UK's Alternative Investment Market
(Aim) could be forced to comply with the EU's Prospectus
Directive despite the exchange's efforts to exclude itself from
the scope of the new regime.
The Directive, which takes effect on July 1, would impose
strict form and content rules on the market's issuers,
requiring a comprehensive three-part prospectus and detailed
financial information for deals worth more than €2.5
million ($3.15 million) or offered to more than 100
Aim opted for exchange-regulated status in 2004 to prevent
its listed companies from having to comply with the EU rules,
which only apply to companies listed on an EU-regulated
"This is already a problem because some of the deals we are
now working on will not come to market until after July 1 and
so will have to comply with the new regime," says Aim
specialist Anthony Brockbank, a...