FDs meet to discuss market
A forum for alternative investment market finance directors will be formally established later this week by listed consolidator firm Numerica.
Link:Numerica unveils poor results
The AIM-listed firm recently held an event for finance directors where the confusion surrounding international financial reporting standards was a hot topic.
‘A lot of them said, “We are not quite sure what we should be doing with IFRS”, so I suppose there is quite a lot of confusion out there,’ said Adrian Coleman, finance director at Numerica.
Coleman said he had been in touch with representatives of AIM who had no objections to the forum and offered its backing.
‘We are hoping to launch it later this week,’ said Coleman. ‘We have had a very good response.’
That Numerica has felt it necessary to establish such a dedicated forum will put pressure on AIM to improve the standard of its communication with its listed clients.
John Pierce, chief executive of the Quoted Companies Alliance, said a ‘general perception’ of the stock exchange is that it is not a ‘good communicator’.
The AIM finance director’s forum will be established to discuss matters relating specifically to smaller cap companies.
Issues such as international standards,regulatory compliance and tax are all expected to be discussed.