Registration, Breakfast & Networking
7:00

AIM Post IPO Success: Are Companies Sacrificing Liquidity?
8:20
The London Stock Exchange's Alternative Investment Market (AIM) provides a public offering route chosen by many firms that seek capital without Sarbanes-Oxley requirements and other constraints of the U.S. markets. But what happens after the IPO is over and an issue's liquidity is at the mercy of the open markets? This panel discusses the aftermarket support that is available from NOMADs and consultants, along with strategies to prevent a stock from languishing in price and liquidity.
MODERATOR: ADAM HART, KBC Peel Hunt
PANELISTS: ANDY CROSSLEY, Invesco-Perpetual; LENA HODGE, Mintz Levin; GILES MCNAMEE, McNamee Lawrence & Co.

How Foreign Public Companies Can Access U.S. Private Equity Without Sarbanes-Oxley
9:10
This panel discusses methods for companies listed on AIM and other international exchanges to access U.S. institutional capital without registering with the Securities and Exchange Commission or complying with Sarbanes-Oxley. Foreign companies listed on AIM and other international exchanges can sell their securities in the U.S. to qualified institutional buyers, who can then immediately resell their securities on the non-U.S. exchange. Using an appropriately structured offering, the qualified buyers will have immediate liquidity without U.S. registration.
SPEAKERS: KIT JENNINGS, Roth Capital Partners; STEVEN SIESSER, Lowenstein Sandler

Euronext: Europe's First Cross-Border Exchange
9:40
This panel takes an innovative look at the structure of Euronext. Panelists discuss the listing requirements for the two segments of the Stock Exchange, including Alternext, the junior market with a lighter regulatory touch and simplified rules. This segment will focus on the advantages of combining a U.S. private placement with a Euronext listing and European capital raising.
MODERATOR: ERIK WENNGREN, Director of International Listings, Euronext
PANELISTS: ANTOINE RIMPOT, Avenir Finance; JEAN-NICOLAS SORET, Reed Smith Rambaud Charot

European Regulatory Regime Change: Implementing MiFID for Markets
10:50
The Markets in Financial Instruments Directive (MiFID) comes into effect on November 1, when it will replace the existing Investment Services Directive (ISD). This presentation discusses the main provisions in relation to markets (regulated markets, MTF's and OTC trading), transparency and transaction reporting, and the UK's approach to implementing MiFID. It also focuses on how MiFID might change the way markets operate.
SPEAKER: DAVID LAWTON, Head of Markets Policy, Financial Services Authority

Examining Corporate Governance: What are the Expectations of European Investors?
11:15
The purpose of good corporate governance is to ensure that the company is managed in an efficient, effective and entrepreneurial manner for the benefit of all shareholders over the long term. This panel covers best practices, guidelines, reporting and responsibilities, along with some hurdles that issuers should be aware of.
MODERATOR: JOHN PIERCE, Quoted Companies Alliance
PANELISTS: JEREMY ELLIS, Evolution Securities; SEAN GERAGHTY, Dechert

Deutsche Borse: Accessing European Capital Markets
13:30
This presentation covers how global investors can access European capital though Deutsche Borse. Topics include the cost of capital, liquidity, visibility and market segments and services. This presentation will help you understand the advantages of doing business on Deutsche Borse and will give you a practical understanding of this market's framework.
SPEAKER: RAINER RIESS, Managing Director - Stock Market Business Development, Deutsche Borse

Structuring PIPEs: How to do a Private Placement in a Public Company in Europe
13:55
This panel discusses PIPE transactions in Europe including general customs, processes, and regulatory constraints. Panelists cover the advantages that a European deal offers to issuers, and how PIPEs can be structured to best capitalize on European markets. The panel also focuses on how to tailor a placement to a particular exchange or nation's requirements, along with the costs to the issuers and what kind of discounts are likely to apply in pricing.
MODERATOR: TROY RILLO, Cornell Capital Partners
PANELISTS: PIERS LINNEY, Tower Gate Capital ; JAMES MILLICHAP-MERRICK, Cornell Capital Partners; GREG SICHENZIA, Sichenzia Ross Friedman Ference

AIM One Year Later: Has it Lived Up to the Expectations?
15:20
This session highlights some of the key structural, regulatory and cultural issues a company must address when preparing to list on AIM. It also provides an overview of AIM performance over the last year and considers if AIM has lived up to the expectation of overseas issuers and investors.
MODERATOR: PAUL WEDGE, Kaupthing Singer & Friedlander
PANELISTS: RICHARD EVANS, Brewin Dolphin Securities; SIMON HOLDEN, Faegre & Benson; GAVIN TAYLOR, Renaissance Advisors

U.S. Securities Laws, Settlement Options, and the Impact on Liquidity
16:10
This panel discusses the exemptions, including Reg. D, Reg. S and Rule 144A, under which U.S. securities not registered with the SEC are issued and subsequently traded offshore. The "restricted" status of these securities has an important impact on the secondary market, the ways in which secondary market trades are settled, and the liquidity of the secondary market. The effect of recent developments in electronic settlement alternatives will be explored.
MODERATOR: MARTIN LANE, KL Gates
PANELISTS: TOD ACKERLY, Covington & Burling; ELE KLEIN, Schulte Roth & Zabel; EUGENE TABLIS, Moses & Singer