RE: Trades19 Jun 2024 13:36
Lifesgoody, I have actually researched this question previously, and just because they are trading from overseas it makes no difference they still have to comply with AIM rules… see below point 4
Here are some key points regarding the disclosure requirements for AIM stocks:
1. Thresholds for Disclosure: In the UK, under the Financial Conduct Authority (FCA) rules and the Disclosure Guidance and Transparency Rules (DTRs), shareholders must notify a company when their holding reaches or crosses certain thresholds. For AIM companies, these thresholds are typically 3%, and then at 4%, 5%, 6%, 7%, 8%, 9%, and each 1% thereafter.
2. Timing of Disclosure: Once a shareholder's position reaches or crosses one of these thresholds, they are required to notify the company as soon as possible, but no later than two trading days after the event.
3. Content of the Notification: The notification must include details such as the identity of the shareholder, the date on which the threshold was reached or crossed, the resulting situation in terms of voting rights, and the chain of controlled undertakings through which the voting rights are effectively held, if applicable.
4. Foreign Investors: The same rules apply to foreign investors as they do to domestic investors. There are no exemptions for foreign entities regarding the disclosure of significant shareholdings in AIM-listed companies.
5. Company’s Responsibility: Once the company receives a notification, it is required to publicly announce the information promptly, typically via a Regulatory Information Service (RIS).
Failure to comply with these disclosure requirements can result in penalties, including possible suspension of voting rights associated with the shares until the disclosure is made.
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