Nominated Advisers

Conditions for obtaining the status of Nominated Adviser.

For obtaining and retaining the status of Nominated Adviser of ATHEX's ENA Market, the following conditions have to be met:

1. Experience: Have adequate experience in capital market issues. The adequacy of experience is evaluated, as the case may be, according to the documents (Resolution 1) that have been submitted to ATHEX or any other additional information or action that may be requested by ATHEX. In order to assess the experience the following shall be taken into account:

1.1 The ability to provide the investment service of underwriting.

1.2 If the candidate Nominated Adviser does not have the Underwriter's capacity, the actual experience as a major financial consultant, with an active participation in at least 2 Capital Market related activities in the last 2 years preceding the approval of his application is considered (by way of indication, the said Nominated Adviser should be reported in a Prospectus or a document of article 4 of L.3401/2005 as a Consultant or to have acted as a Leading Consultant of listed companies in cases of mergers, acquisitions, Tender Offers, etc).

2. Adequacy of organization and operation: The Nominated Adviser must operate with an adequate internal organization. Such adequacy is evaluated, as the case may be, according to the documents that have been submitted to ATHEX or any other additional information or action that may be requested by ATHEX. More specifically, in order to assess the organizational & operational adequacy, the following are taken into consideration:

2.1 The ability to provide the investment service of underwriting.

2.2 If the candidate Nominated Adviser does not have the Underwriter's capacity, then he must employ on a full-time basis and exclusively at least 2 executives with experience in corporate finance, the drawing up of investment plans or in the provision of consulting services on actions that require the issue of a Prospectus or Information Memorandum pursuant to article 4 of L.3401/2005 or the issue of an Information Memorandum for a Tender Offer pursuant to L.3461/2006.

3. Lack of a conflict of interest with the Issuer: to not have conflict of interest with the Issuer.

3.1 The lack of a conflict of interest may be presumed, by way of indication, by the adoption of procedures to ensure the absence of conflicts of interest with the individual companies, by a corresponding lack of a corporate bonding or interdependencies with the issuer and by non-auditing the issuer's financial statements.

4.  In the event financial statements are audited, the said audit must be carried out either by another (affiliated) legal entity or by the same legal entity, but from physical entities or an organizational unit that does not have any relation with those persons that work on issues related to a particular issuer's admission to trading on EN.A.

5. No imposition of sanctions: No sanctions should have been imposed or be pending against the person applying for an Adviser by the competent body that supervises it with regard to violations of legislation related to any services that have been provided.

6. Appropriateness: ATHEX assess, as the case may be, the appropriateness of the candidate Nominated Adviser according to the criteria mentioned above as well as any other available information. If the Candidate Adviser, is a newly established company, the experience is evaluated based on the experience and competence of the staff.


Acceptance procedure

1. The Candidate Nominated Adviser submits an application for acquiring the capacity of "Alternative Market (EN.A.) Nominated Adviser" and being included in the List of Alternative Market Nominated Advisers.

2. In case the relevant conditions and the appropriateness are fulfilled, ATHEX  accepts the application and includes the Nominated Adviser in the "List of Alternative Nominated Market Advisers".

3. ATHEX updates the list accordingly after any change in the Nominated Advisers information.

 


 

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