AIM Companies: New Corporate Governance Requirements

From 28 September 2018 all AIM companies will need to report on their application of a recognised corporate governance code.

This information must be available on a website and must include:

  • details of a recognised corporate governance code that the board of directors of the AIM company has decided to apply
  • explanations of how the company complies with that code
  • where the company departs from the code and the reasons for doing so
  • the date on which these disclosures were last reviewed (must be done annually)

What has changed?

Previously, AIM companies have had a choice of either stating on their website which corporate governance code they follow, or that they do not follow a code, instead setting out their own arrangements.

Which corporate governance should companies follow?

Each company should identify the code best suited to their sector and size. For UK incorporated AIM companies, this is likely to be either the Quoted Companies Alliance (QCA) Corporate Governance Code or the FRC’s UK Corporate Governance Code. For more information on the new QCA Corporate Governance Code, see here.

For companies registered overseas, it is possible to report against a recognised code in their home country.

For more information, contact:

Carolyn Arlett
Corporate Secretarial
+44 (0)7587 031073
carlett@fitzandlaw.com

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