London Stock Exchange: AIM

The role of the Nominated Adviser and other advisers

Guide

If your business decides to join AIM, you will be required to appoint and retain advisers who will provide advice during the process of flotation, and throughout the time the business remains on AIM. You will need the following advisers, and in addition, you may look to appoint the services of investor relations and public relations organisations:

  • Nominated Adviser ('nomad')
  • Broker
  • Reporting accountant
  • Legal adviser

The role of the nomad

The nomad assists a company through the admission process and is responsible to the London Stock Exchange for assessing the appropriateness of a company seeking admission to AIM. Once the company has been admitted to AIM, the nomad will continue to provide advice and guidance on all aspects of the AIM Rules. They will ensure that the Directors are aware of their continuing responsibilities and obligations. You must retain a nomad at all times while listed on AIM.

Nomads are typically corporate finance firms approved by the London Stock Exchange to act in such a capacity.

The London Stock Exchange provides a Nominated Advisers directory.

The role of the broker

The broker is a securities house which will also be a member of the London Stock Exchange and will be responsible for any initial fundraising at flotation, and for bringing together buyers and sellers to encourage trading in your shares. The broker may be from the same firm as the nomad if a company chooses to appoint a firm which performs both functions.

The role of the reporting accountant

The reporting accountant will independently review your company's financials and will assist you in preparing all the necessary financial information that must be included in the AIM admission document. See choose an accountant for your business.

The role of the legal adviser

The legal adviser will conduct due diligence on behalf of the nomad, including verifying the statements given in the AIM admission document. The legal adviser will also provide ongoing advice to the board of your company on your continuing legal obligations. See choose a solicitor for your business.