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Background |
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Second tier market, established in June 1995 |
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Operated and monitored by London Stock Exchange
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Benefits |
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Benefits, are effectively the benefits of flotation, in summary:
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finance for growth
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share valuation and market for trading
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"prestige
benefits
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Disclosure requirements |
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price service
information
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significant changes in shareholdings
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changes in directors and advisers
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transactions over the class test
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interims to be published within four months
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final accounts within six months
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Trading |
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no requirement for market maker
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matched bargains arranged by nominated broker
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Advantages |
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It’s advantages over a full/official list:
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unquoted for tax purposes
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no
minimum shares in issue
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no minimum trading record
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nomads
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prospectus not listing particulars, thus covered by POS
regulations
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cheaper?
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Aim market statistics |
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London Stock Exchange - AIM market
statistics |
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At September 2005, Growth Company Investor reported that AIM had 1,277 companies
with a combined valuation of over £47 billion.
This report showed that
disclosed institutional holdings represented 40.9%. The most active
institutions by number of investments at September 2005 is shown below
Most Active Institutions bY
number of investments
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Institution |
Number of investments |
Value £m |
| Fidelity |
113 |
693 |
| F&C |
112 |
300 |
| Artemis |
94 |
451 |
| Gartmore |
65 |
196 |
| RAB Capital |
58 |
205 |
| Framlington |
56 |
222 |
| Chase Manhattan* |
52 |
93 |
| Invesco |
51 |
221 |
| Pershing Keen* |
48 |
31 |
| Merrill Lynch |
46 |
244 |
| Source:
www.growthcompanyinvestor
*Denotes nominee accounts. A nominee account is
one in which the named holder is the legal owner of the shares,
yet holds the assets in it on behalf of another, the
beneficiary.
New issues: Most Active
Institutions in 2005 |
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Institution |
Number of investments |
Value £m |
| Fidelity |
26 |
123 |
| Invesco |
22 |
114 |
| RAB Capital |
28 |
105 |
| Artemis |
22 |
94 |
| Lansdowne Partners |
10 |
78 |
| Merrill Lynch |
17 |
63 |
| Moore Capital Management |
9 |
60 |
| Jupiter Asset Management |
11 |
59 |
| F&C |
24 |
58 |
| Goldman Sachs |
12 |
55 |
| Source:
www.growthcompanyinvestor
*Denotes nominee accounts. A nominee account is
one in which the named holder is the legal owner of the shares,
yet holds the assets in it on behalf of another, the
beneficiary.
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