It was in direct violation of AIM Rule 1, which states “admission of a company’s securities to trading will be canceled if a replacement NOMAD is not appointed within a month.” On May 20, 2020, a casino supplier, Nektan, was removed from the AIM after it did not appoint a new NOMAD within one month of entering the exchange. In fact, the AIM requires the employment of a NOMAD to continue to be listed on the AIM. Nominated advisors are essential to a company’s success on the AIM. A legal advisor assists with the verification of statements and provides direction and advice to board members of the company.They assist the company in preparing the financial statements for distribution. Accountants are independent, third-party observers that aim to provide reliable financial information to shareholders. ![]() Brokers specialize in bringing buyers and sellers together and are not involved with the extensive responsibilities of a NOMAD.They differ from a NOMAD in the following ways: In addition to employing a nominated advisor, a company seeking to be listed on the AIM should also employ a broker, accountant, and legal advisor. More than 3,865 companies are listed on the AIM worldwide, so the need for NOMADs continues to be extremely important. ![]() The NOMAD will then perform due diligence to ensure the company is a proper fit for the AIM and that they will be successful after listing.Īfter the company is listed on the AIM, the NOMAD is responsible for monitoring the company and ensuring it continues to comply with the AIM Rules. So, to summarize, the NOMAD first begins by assisting the company in navigating the AIM listing process.
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