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Isle of Man Plays Lead Role in Internationalisation of AIM 5 November 2007

The Isle of Man has confirmed its position as the leading offshore jurisdiction for company incorporation by non-UK AIM 100 companies listed on London's Alternative Investment Market (AIM), according to recently published research (London Stock Exchange and Hemscott).

The Island’s lead role was highlighted at the London Stock Exchange’s AIM conference on 17th October 2007 where both Brian Donegan, Director of Foreign Direct Investment of Isle of Man Finance and Daniel Mackelden of Isle of Man headquartered law firm Cains, were speaking.

A key trend for AIM highlighted by both speakers is the internationalisation of the Market in terms of the profile of companies listed. Of the 1,685 total number of companies currently listed on AIM, 409 have countries of operation outside the UK (source LSE). Of these, 57 are incorporated via the Isle of Man (source Hemscott). For non-UK AIM 100 companies, 15 have been incorporated through the Island to date – the highest number of any jurisdiction (source Hemscott). The Island acts as a key conduit for business from India, with more than £1.6 billion raised for Indian Companies in 2006 (source Cains).

Key attractions of the Isle of Man for international businesses are the commercial flexibility offered by the Isle of Man’s Companies Act 2006 and the Island’s fiscal regime, including zero rate corporate tax.

Commenting on the internationalisation of AIM and the role of the Isle of Man in attracting non-UK companies to list, Dan Mackelden, Head of Cains’ London office said:

“Over 500 international companies have taken the route to AIM, an indication of the way the market has evolved – it is now considered the world’s premier growth market.
“At Cains we’re continuing to experience this first hand, advising on listings involving companies from key emerging markets including India and China. AIM is becoming a great starting point for many growing and dynamic international companies.”

Commenting on the role of the Isle of Man in helping AIM to attract international companies to list, Brian Donegan, Director of Foreign Direct Investment at Isle of Man Finance said;

“We are delighted to be working alongside the LSE in order to promote the Island as a favourable route to AIM. Our common goals of the promotion of the internationalisation of AIM work very much in our favour – our unique blend of fiscal, regulatory and legislative offering is the reason why we are rapidly developing a reputation as the preferred access point to London for non-UK companies.
“The AIM statistics confirm that the market has chosen Isle of Man as the preferred access point to London which is a great coup for us and shows tremendous market dominance against our competitors.”

Isle of Man Finance and Cains were both key sponsors at the London Stock Exchange’s AIM conference. The event was attended by approximately 100 delegates from a variety of professional backgrounds.

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