Smaller Canadian companies listed on the Toronto Stock Exchange today received an added incentive to join one of the world’s leading international exchanges, when the London Stock Exchange announced new, fast-tracked admission procedures for AIM, its international market for smaller, growing companies.

Under the streamlined procedures, TSX-listed companies will be able to use their current annual reports and most recent financial statements as the basis for an “inter-listing” on AIM.

The fast-track procedures are intended to make the AIM admission process considerably easier and faster for international issuers.

AIM fast-track requirements include:

    joining the market within nine calendar months of the financial year-end;

  • providing 20 business days’ notice of intention to be admitted to AIM (instead of 10 days under conventional procedures);
  • abiding by AIM’s continuing disclosure obligations once admitted; and
  • having a Web site address where any announcements or other documents the company has issued during the last two years — public announcements made as a consequence of trading in the company’s securities — are available.

Cyril Théret, the London Stock Exchange’s Business Development Manager for Canada, noted: “There are investors and capital ready for Canadian companies in London. This initiative is part of a rolling program of innovative measures to make AIM more accessible to Canadian and other overseas companies.”

The London Stock Exchange is continuing its campaign to attract Canadian issuers with a presence at the Canadian Investor Relations Institute annual conference in Victoria, followed by meetings with Canadian companies and their financial and legal advisors in Vancouver, Calgary, Montreal and Toronto.

Canadian companies, particularly those in the natural resources, financial services, healthcare and technology sectors are encouraged to join London’s markets for enhanced access to capital and visibility among international investors.

Forty-six Canadian issuers of debt and equity are on the London Stock Exchange’s markets, five of which have joined in the past 12 months. Total equity and debt listings have a combined value of more than $150 billion.

Exchange-approved nominated advisors (known as nomads) still play an important role advising fast-track companies, thereby maintaining AIM’s well-respected standards of regulation. There are currently 69 approved nomads, including the Canadian adviser Canaccord Capital and U.S. advisor US Bancorp Piper Jaffray Capital Markets.

Companies entitled to take advantage of the fast-track route to AIM are those already listed on the main boards of the Australian Stock Exchange, Euronext, Deutsche Borse, Johannesburg Stock Exchange, Nasdaq, NYSE, Stockholmsborsen, Swiss Exchange and Toronto Stock Exchange.