AIM share scheme disclosure
Companies quoted on AIM are now required to disclose details of the remuneration of each of their directors in their accounts, including equity based rewards such as share options and Long-Term Incentive Plans (LTIPs).
New AIM rules were recently published by the London Stock Exchange which are effective from 17th February 2010. They include a requirement that the accounts show, for each director:
- all emoluments and compensation, including any cash or non-cash benefits received;
- details of all share options and other long term incentive plans, including information on all outstanding share options and/or awards; and
- the value of any contributions paid by the AIM company to a pension scheme.
These new regulations bring the AIM rules into closer alignment with the The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, introduced by the Companies Act 2006. These regulations contain a plethora of disclosure requirements, not all of which are yet properly understood or implemented by the companies to which they are supposed to apply.