There are also some specific conditions that need to be satisfied in order to facilitate the admission of an issuer to trading on AIM:
An AIM company must appoint and retain a nominated adviser and broker at all times. In February 2007, the London Stock Exchange introduced the AIM Rules for Nominated Advisers, with which all nominated advisers must comply. These Rules codify nominated advisers’ responsibilities on admission, on taking on a new nominated-adviser role in relation to an existing AIM company and on an ongoing basis. (See Chapter 6 for further details.)
AIM Regulation40 has published guidance on the "Category 3" issuers referred to in (iv) above. The guidance notes that the London Stock Exchange expects all existing "Category 3" issuers to be eligible for electronic settlement no later than 1 September 2015.
Furthermore, an investment manager and its key employees who are responsible for making investment decisions in relation to the investing company will be considered directors for the purposes of ARs 7 (lock-ins), 13 (related party transactions), 21 (restrictions on deals) and 17 (disclosure of deals).
There are also specific disclosure requirements for investment managers of externally managed investing companies that both reflect the key role that managers perform and recognise that the managers are currently not directly covered by the AIM Rules.
The London Stock Exchange has recently updated the AIM Note for Investing Companies to clarify that cash proceeds arising from a fundamental disposal under AR 15 (Fundamental changes of business) shall count towards the £6 million minimum funding to be raised by investing companies.