Conyers Advises Bermuda Company's AIM Listing

by Jason Gorringe, Tax-News.com, London

25 July 2011

Conyers Dill and Pearman has advised Jellybook Limited on its admission to trading on the AIM market on the London Stock Exchange. Jellybook is only the third Bermuda company to be admitted to AIM since 2007.

Jellybook is a newly incorporated Bermuda company focussing on investments in social media sector, particularly those businesses with both digital media and social networking capabilities. The primary investment criteria will be businesses that have innovative, low cost and scalable technology with the potential to obtain significant market share. The directors intend to invest a substantial portion of the company’s financial resources in one major acquisition which will be deemed to be a reverse takeover under the AIM Rules, requiring shareholder approval and re-admission of the company to AIM.

Smaller acquisitions may also be made that are ancillary to the main acquisition and the directors do not intend to create a portfolio of unconnected companies.

The chairman and founder of Jellybook is Jonathan Rowland, who also founded Jellyworks plc, a dot.com investment company that was admitted to AIM in 1999 and was acquired by Shore Capital Group plc less than a year later.

AIM is unique in that it has historically provided smaller businesses the opportunity to raise capital, however such investments are generally seen as being more risky, albeit with higher returns that typical investment in blue chip companies. Companies listing on AIM benefit both from less onerous regulatory requirements and tax incentives.

Recommended