The Alternative Investment Market (AIM) is primarily used by younger, growing companies who want to raise capital to help them to achieve their strategic ambitions. Since it opened in 1995, more than 2,200 companies have been admitted and more than £24 billion has been raised collectively.*

What are the reasons to join AIM?

• You will gain access to a ready source of capital to fund future growth, whether organically or by acquisition.
• You will have an independent, objective market value of your company which is regularly updated.
• Your company will benefit from an enhanced profile and status which can open up new markets for your products and services.
• You will have a ready market for the shares of existing shareholders which will increase the liquidity of the shares.
• It has a more flexible regulatory regime than the main market.

In essence, OFEX (Off Exchange) offers a matched bargains trading facility for small and medium sized companies. To mid-2005, over 500 companies have used the OFEX market to raise more than £1bn. Any company considering making an application to OFEX must do so through a corporate adviser.

The joining procedure is relatively straightforward. The last three years accounts, with an unqualified audit opinion on at least the last year, are submitted alongside other basic information. If appropriate, a prospectus in accordance with the Public Offers of Securities regulations may also be required.

What are the reasons to join OFEX?

• Gain access to capital to fund your company?s strategic plans.
• There are significant tax advantages.
• It is less regulated that the main market and AIM.
• It can provide a springboard to listing on AIM or the main market.

*Source: London Stock Exchange website 2006.

Contacts:

Stewart MacDonald, Partner, Corporate Finance

Gareth Magee, Partner, Corporate Finance

Jon Strickland, Partner, Audit & Assurance