How AIM Works
In terms of financial reporting, the requirements for London’s AIM are half yearly and annual.
The six month report typically contains some narrative from the AIM-listed company’s Chairman and/or Chief Executive, the basic consolidated financial statements and certain note disclosures. It often takes the form of a press release that is disseminated via the London Stock Exchange’s Regulatory News Service (RNS) no later than three months after the end of the six month period.
The Annual Report’s on London’s AIM are much more extensive and typically include letters from the Chairman, Chief Executive Officer and Finance Director (CFO), a Review of Operations, a Directors’ Report, a Corporate Governance Report, a Remuneration (Compensation) Report and a full set of audited financial statements. Companies listed on London’s AIM typically release a Preliminary Announcement of Final Results via RNS which provides the highlights of what will be included in the Annual Report which must be made available electronically (if this is permitted by the company’s Articles of Association) or mailed in hardcopy to all London AIM shareholders no later than six months after the end of the company’s fiscal year.
London AIM-listed companies which are domiciled in a European Economic Area country, which includes the U.K., must prepare their financial statements in accordance with International Financial Reporting Standards (IFRS). London AIM-listed companies which are domiciled elsewhere can use U.S., Canadian or Japanese GAAP or Australian IFRS. Irrespective of the financial reporting standards used, the financial statements for a London AIM-listed company can be prepared in any stable currency; however, common practice is for London AIM-listed companies to report in their main functional currency.