Calculating fees

Companies pay an admission fee to join each of London Stock Exchange’s markets and an annual fee thereafter. Our fee calculators are designed to help you calculate your company’s admission and annual fees.

Filter by Market
AIM
Main market
AIM admission fee
Number of shares
Opening price (£)
or
Market capitalisation (£)
Admission fee (£)
0
See notes

An admission fee is payable by all companies seeking admission to AIM or where an enlarged entity seeks admission to AIM following a reverse takeover under Rule 14 of the AIM Rules for Companies. The admission fee is based on the market capitalization of the company on the day of admission.

An invoice for the admission fee will be raised at the time of admission. Payment of admission fees must be received no later than 30 days after the date of such an invoice.

AIM further issues
Value of securities admitted (£)
Admission fee (£)
0
See notes

No further issue fee will apply for further issues where capital raised is below £1.5 million.

An invoice for the further issue fee will be raised at the time of issuance. Payment of further issue fees must be received no later than 30 days after the date of such an invoice.

AIM annual fees
Market capitalisation (£)
Date
Annual fee (£) (2020 Pro-rata)
0
See notes

Annual fees are based on the market capitalisation of the issuer at close of trading on the last business day of September in the preceding year.

Annual fees are billed in January 2020 for the transition period and must be paid within 30 days of the invoice date.

Starting from January 2020, annual fees will be billed in January for the 12 months commencing 1 January

A pro-rata annual fee is payable by new applicants. To calculate the fee, take the number of calendar days, including the date of admission to trading up to and including 31 December 2020, divide this number by 365 (366 during leap year) and multiply the result by the annual fee.

Where admission to trading occurs after 30 September 2019, the market capitalisation used in the above calculation is the market capitalisation of the securities at the time of admission.

No pro-rata annual fee is payable by the enlarged entity admitted to AIM following a reverse takeover under Rule 14 of the AIM Rules for Companies.

No additional pro-rata annual fee is payable by companies transferring between London Stock Exchange markets

Main Market admission fees - new issues - ordinary shares
Number of shares
Opening price (£)
or
Market capitalisation (£)
Admission fee (£)
0
See notes

In the event of an application being made whereby more than one class of security is being admitted, a separate fee will be charged for each class of security.

Preference shares may be treated as either equity or debt securities. Classification is dependent upon the class used by the relevant competent authority for the issuer. The admission fee will be based upon this classification. In both cases, an admission fee will apply, however no annual fee will be payable.

Main Market admission fees - new issues - specialist certificates
Number of certificates
Opening price (£)
or
Market capitalisation of admitted certificates (£)
Admission fee (£)
0
See notes

In the event of an application being made whereby more than one class of security is being admitted, a separate fee will be charged for each class of security.

Main Market - further issues - ordinary shares
Market capitalisation of company at the time of the issue (£)
Number of shares
Opening price (£)
or
Market capitalisation of admitted certificates (£)
Admission fee (£)
0
See notes

Preference shares may be treated as either equity or debt securities. Classification is dependent upon the class used by the relevant competent authority for the issuer. The admission fee will be based upon this classification. In both cases, an admission fee will apply, however no annual fee will be payable.

Main Market - further issues - specialist certificates
Number of certificates
Opening price (£)
or
Market capitalisation of admitted certificates (£)
Admission fee (£)
0
See notes

Specialist certificates

Main Market annual fees - UK and international companies
Market capitalisation of admitted certificates (£)
Admission date
Annual fee (£) (01/01/20 – 31/12/20)
0
See notes

The annual fee is for each year or part thereof and is therefore not refundable, including where securities cease to be traded.

Annual fees are billed in January 2020 for the transition period and must be paid within 30 days of the invoice date.

Starting from January 2020, annual fees will be billed in January for the 12 months commencing 1 January

A pro-rata annual fee is payable by new applicants. To calculate the fee, take the number of calendar days, including the date of admission to trading up to and including 31 December 2020, divide this number by 365 (366 during leap year) and multiply the result by the annual fee.

Preference shares may be treated as either equity or debt securities. Classification is dependent upon the class used by the relevant competent authority for the issuer. The admission fee will be based upon this classification. In both cases, an admission fee will apply, however no annual fee will be payable.

Applicants who admitted their equity securities prior to 1 April 2019 will be subject to a maximum annual fee of £155,000.

Applicants who admitted their equity securities after 1 April 2019 will be subject to a maximum annual fee of £210,000.

A premium listed issuer will be eligible for a 25% discount on their annual fee for the parent listed entity, should they have five or more premium funds listed on London Stock Exchange. The discount does not apply to listed funds.

In the case of issuers of certificates representing shares, the following fee scales will apply:

Those securities who meet both of the following criteria:

1. Qualifies in the top five Depositary Receipts listed on London Stock Exchange, in terms of size of the programme, with size of programme calculated as the number of Depositary Receipts outstanding multiplied by the average price on London Stock Exchange. Both parameters are based on quarter three data and,
2. Qualifies in the top five Depositary Receipts listed on London Stock Exchange, in terms of liquidity, calculated as the Average Daily Valued Traded (ADVT) on London Stock Exchange. ADVT will be based on quarter three data,

Will be subject to an annual fee of £80,000.

For those Depositary Receipts that are; a) subject to Central Counterparty (CCP) clearing services, b) admitted to trading after 1 April 2019, and c) issuer's market capitalisation is over £2.5bn, an annual fee of £80,000 will be payable. Issuer's market capitalisation will be based on the market capitalisation of the issuer at close of trading on the last business day of September in the preceding year.

Issuers who are not subject to the above annual fees will be subject to the below:

Issuers whose securities are subject to Central Counterparty (CCP) clearing services: £35,000 annual fee.
Issuers whose securities are not subject to Central Counterparty (CCP) clearing services: £13,500 annual fee. 

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