TIDMAQX
Aquis Exchange PLC
14 December 2020
14 December 2020
RNS Reach
Aquis Exchange PLC
("Aquis" or the "Company")
Aquis Stock Exchange rule changes and new market segments now in
effect
Aquis Exchange PLC (AQX.L), the exchange services group, is
pleased to announce that its proposed changes to the rules and
regulations of its subsidiary Aquis Stock Exchange (AQSE) Growth
Market are now in force.
The AQSE Growth Market will be divided into two segments
'Access' and 'Apex', with different levels of admission criteria,
in order to provide appropriate support across companies' growth
cycles. The Access market will focus on earlier stage growth
companies, while Apex is the intended market for larger, more
established businesses.
As of today:
-- New admissions to the Access market can now publish an
admission document specifically tailored to small cap
companies with proportionate disclosure requirements;
-- The Access market will accept SPACs with a minimum market
cap of GBP700,000;
-- New admissions to the Apex market will be required to
publish a growth prospectus, allowing private investor
participation in their IPOs; and
-- Companies on the Apex market will be protected from short
selling by third parties.
As announced on the 23 November, the market maker incentive
scheme, which has been designed to increase liquidity on the
exchange, will come into effect on the 4 January 2021.
The rule changes mark the end of the consultation launched on 1
May 2020, and have been developed to enhance Aquis Stock Exchange
and increase support from both retail and institutional investors
by applying core Aquis values, such as transparency and innovation
to the business, whilst ensuring a robust regulatory framework. The
complete rule books for each of the Access and Apex markets are
available on the website.
Some of the companies that are currently listed on the Apex
market include: private banking company Arbuthnot Banking, private
equity investment company EPE Special Opportunities, winery Chapel
Down, breweries Shepherd Neame and Daniel Thwaites, and private
healthcare provider Rutherford Health.
Following these rule changes Apex companies will need to
have:
-- A minimum market capitalisation of GBP10 million
-- At least 25% shares in public hands
-- At least 2 market makers
-- A minimum 2 years' trading history
-- Adopted a recognised governance code, such as the QCA
Code
Aquis Stock Exchange is one of only two existing options for
growing businesses looking to IPO in the UK. It brings positive
disruption and competition to the listed SME sector, alongside
using superior technology to deliver better results for all
participants.
Commenting on the changes coming into effect, Alasdair Haynes,
CEO of Aquis, said:
"I am delighted to see the new rules in place across Aquis Stock
Exchange today. I genuinely believe that whilst providing a strong
regulatory framework, they will make the market work better for all
those that use it and help to update the stock exchange for the
current day, fit to service the needs of modern businesses.
Private investors are rightly becoming ever more vocal in their
demand for better information and equal access. We support this,
and through requiring companies joining Apex to publish a growth
prospectus we are providing a way for them to be part of a
company's growth journey right from the point of floatation.
This is just one example of the work we have undertaken to
create a better, more supportive marketplace for all. We look
forward to welcoming many more great growth businesses to Aquis
Stock Exchange in due course."
Enquiries:
Aquis Exchange PLC Tel: +44 (0) 20 3597 6321
Alasdair Haynes, CEO
Jonathan Clelland, CFO and COO
Liberum Capital Limited (Nominated Adviser and Broker) Tel: +44 (0) 20 3100 2000
Clayton Bush
Chris Clarke
Edward Thomas
Kane Collings
Alma PR (Financial PR Adviser) Tel: +44 (0)20 3405 0209
Susie Hudson aquis@almapr.co.uk
Rebecca Sanders-Hewett
Caroline Forde
Notes to editors:
Aquis Exchange PLC is an exchange services group, which operates
pan-European cash equities trading businesses (Aquis Exchange),
growth and regulated primary markets (Aquis Stock Exchange/AQSE)
and develops/licenses exchange software to third parties (Aquis
Technologies).
Aquis Exchange is authorised and regulated by the UK Financial
Conduct Authority and France's Autorité des Marchés Financiers to
operate Multilateral Trading Facility businesses in the UK and in
EU27 respectively. Aquis operates a lit order book and does not
allow aggressive non-client proprietary trading, which has resulted
in lower toxicity and signalling risk on Aquis than other trading
venues in Europe. According to independent studies, trades on Aquis
are less likely to lead to price movement than on other lit
markets. Aquis uses a subscription pricing model which works by
charging users according to the message traffic they generate,
rather than a percentage of the value of each stock that they
trade.
Aquis Stock Exchange (AQSE) is a stock market providing primary
and secondary markets for equity and debt products. It is
authorised as a Recognised Investment Exchange, which allows it to
operate a regulated listings venue.
Aquis Technologies is the software and technology division of
Aquis Exchange PLC. It creates and licenses cutting-edge,
cost-effective matching engine and trade surveillance technology
for banks, brokers, investment firms and exchanges.
Aquis Exchange PLC (AQX.L) is listed on the Alternative
Investment Market of the LSE (AIM) market. For more information,
please go to www.aquis.eu
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRADZMMZVMNGGZM
(END) Dow Jones Newswires
December 14, 2020 02:00 ET (07:00 GMT)
Aquis Exchange (LSE:AQX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Aquis Exchange (LSE:AQX)
Historical Stock Chart
From Apr 2023 to Apr 2024
