AIM – LSE consultation on AIM Rules

The London Stock Exchange (LSE) has published a consultation on changes to the AIM Rules for Companies.

The consultation follows the LSE's earlier discussion paper and feedback statement (see our blog post here) and is seeking, amongst other things, to reduce unnecessary regulatory burdens on admission and support AIM companies undertaking transactions.  

The LSE says that it will publish a separate consultation on the contents of an AIM admission document but in the meantime the changes it is consulting on include:

• removing the requirement to produce a working capital statement, and replacing it with a requirement to disclose details of the company's capital resources and financial obligations, together with details of future fundraising needs;
• allowing UK incorporated companies to use UK GAAP instead of IFRS (a policy approach that is already being applied);
• permitting information to be incorporated into documents by reference;
• allowing a company undertaking an equity fundraise to voluntarily request a suspension (referred to as a 'capital access window'); and
• amending the rules on reverse takeovers (for example by allowing nominated advisers to request that an AIM company is not suspended upon announcing a reverse takeover in contemplation – again a policy approach that is already being applied in practice).

The LSE is separately consulting on changes to the AIM Rules for Nominated Advisers. It has also published a Nominated Adviser Technical Note which sets out the LSE's expectations in respect of certain of the nominated adviser’s responsibilities.

The consultations close on 2 July 2026.