Author: Lucy Reeve

Company fined for failing to comply with RPT rules when paying extraordinary bonuses to directors

The London Stock Exchange has announced that Sensyne Health plc has been publicly censured and fined £580,000, for breaches of Rule 13 (Related party transactions) and Rule 31 (AIM company and directors' responsibility for compliance) of the Alternative Investment Market Rules. The company ignored the advice of its nominated adviser (or Nomad – the AIM equivalent of a sponsor) and, when it sought to comply with the rules after the fact, it discovered that its Nomad would not give the required fair and reasonable opinion.