Nomad10 Jan 2019 12:43
CHOOSING YOUR ADVISERS
The Nominated Adviser (Nomad), broker and other advisers play a central role in a company’s admission to AIM. It is important that a company is confident that it can establish a good working relationship with the appointed Nomad as they will be working closely together at admission and on an ongoing basis. In choosing its advisers, a company will want to ensure that they:
understand its business
have appropriate experience in the sector
share the company's vision for the future.
The role of Nominated Advisers
Nomads are corporate finance advisers approved by the London Stock Exchange to act in this capacity. To obtain approval as Nomad, a firm must meet the eligibility criteria set out in the AIM Rules for Nominated Advisers.
A Nomad is responsible for advising and guiding a company on its responsibilities in relation to its admission to AIM as well as its continuing obligations once on market. To help fulfil this role, the Nomad will:
undertake extensive due diligence to ensure a company is suitable for AIM
provide guidance throughout the flotation process
prepare the company for being on a public market
help prepare the AIM admission document
confirm appropriateness of the company to the Exchange
act as the primary regulator throughout a company's time on AIM.
When you look at the 3 points above then you have to ask how come Cairn was appointed a suitable advisor.
Also as a nomad is primarily focused on getting a company into AIM as we are there already they then revert to a monitoring role.
Surely not a lot to ask of a nomad given o&g experience..so not too difficult a task for ZZ
Open to opinion by those more knowledgeable than myself
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