AIM Regulations10 Oct 2025 13:02
I have another reply from AIM which shows the onus is very much with PR1 and PRIM to resolve, but to be honest if they can't be bothered then no one else is going to do anything about it!
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Thank you for your further email, copied below, regarding Pri0r1ty Intelligence Group (“PR1”) and Primorus Investments plc (“Primorus”).
We can assure you that we consider all enquiries and investigate matters within our remit, which is compliance with the AIM Rules for Companies and AIM Rules for Nominated Advisers, and that we take action where appropriate. As previously advised, confidentiality is essential to maintaining the integrity of our work and, accordingly, we are unable to provide company specific comment or updates on any work which we may undertake. However, by way of general guidance:
a. The principle behind AIM Rule 7 is to ensure that actions are taken by a company, as part of its preparation for admission, to enter into AIM Rule 7 lock-in arrangements in certain circumstances (as set out in AIM Rule 7) and ensure that details of these are then disclosed in a company’s Admission Document.
b. However, the enforcement of the terms of such lock-in arrangements is a matter of contract law between the parties. Accordingly, as would be the case for any other contractual arrangement into which a company has entered, where a lock-in agreement may have been breached it will be for the relevant company to determine what course of action should be taken to address any alleged breach of the contractual terms. As you have noted, PR1’s notification at 07:05 on 14 July 2025 (available here), confirms that that it has sent a letter of claim to Primorus reserving its rights to commence legal proceedings. PR1 confirmed in that notification that it would be considering next steps once a response was received and that further information would be notified when appropriate. Primorus has indicated in its notification at 12:30 on 14 July 2025 (available here) that it intends to defend the matter.
We trust the information above is of assistance to you.
Kind regards
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