Several AIM-listed companies reportedly face sanction because they haven’t yet developed an adequate web presence.
According to The Business, firms listed on the junior exchange were given a deadline to set up a basic website containing information on board meetings, results etc.
That deadline has now passed and the London Stock Exchange says it will begin contacting companies that have failed to meet the requirements.
The paper quotes a recent survey of firms listed on AIM that found 16% of respondents had no website and just 15% had a site that met regulatory standards.
Some believe the LSE, which has the power to kick out firms that don’t conform to its rules, should be punishing these companies. After all, setting up a basic website shouldn’t be that difficult.
Customers and investors are likely to have some serious concerns about the type of company that has failed to invest in an online presence.
AIM preferred to Nasdaq on SOX concerns