NOMADS

A Nomad is responsible for advising and guiding a company on its responsibilities in relation to its admission to AIM as well as its continuing obligations once on market.

A NOMAD is generally an investment bank, a corporate finance or accountancy firm approved to act in the capacity of a NOMAD by the London Stock Exchange.
It is important a company choses a NOMAD firm with relevant sector experience and understands the business. It is likely that an AIM company will have a long and close relationship with their NOMAD.
An AIM company can change its NOMAD firm as circumstances arise but must retain a NOMAD throughout its time on the AIM or main market.

A NOMAD’s role is important as they support and guide companies to achieve their growth potential. A NOMAD will also help companies provide an assessment of their business and prospects for investors. Their regulatory role ensures a company meets its on-going obligations and a NOMAD will safeguard the integrity of the market. Strict criteria are in place for becoming an approved NOMAD ensuring companies have access to the high-quality advice they deserve.

To help fulfil this role, the Nomad will:

• Undertakes due diligence to determine whether the company and directors are suitable for AIM
• Prepares the company for life on a public market and provides support in appointing team of advisers
• Co-ordinates the preparation of the admission document which details the company’s investment proposition
• Confirms to London Stock Exchange that the company is appropriate for AIM
• Acts as the primary regulator throughout a company’s time on AIM by ensuring the company continues to understand its obligations under the AIM Rules
• Gives corporate finance advice in relation to transactions whilst on AIM.