Article Abstract:
The UK stock exchange has threatened to take action against four Alternative Investment Market (Aim) advisers. The names of the firms have not been disclosed and investigations are continuing, with appeals possible. Only half the 51 nominated advisers investigated were found to be operating correctly. Twelve companies were found to have committed small breaches, and ten have given cause for concern, with their progress monitored as a result. One company has withdrawn from Aim in order to avoid further investigations.
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Article Abstract:
Three companies could be forced to leave the UK Alternative Investment Market (Aim) if they do not change their advsers before the end of Mar 1997. Loox and Chartwell have been affected by the withdrawal of Gerrard Vivian Gray from Aim. Alpha Omikron is the third company and is in a very difficult position. The company has reported losses and has seen a drop in its share price and may have difficulty in finding an adviser. Loox claims that a number of companies are interested in replacing Gerrard Vivian Gray.
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Article Abstract:
The UK Alternative Investment Market (Aim) has performed well in its first year with 162 companies valued at an aggregate of 3.45 billion pounds sterling. There is a danger that investors could become overenthusiastic since the good performance of Aim companies in terms of share prices may not continue. There is also concern about the quality of information provided by Aim companies. Nominated advisers can be removed from an approved list by the stock exchange if they fail in their duties.
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