Nominated Advisers

Conditions for becoming a Nominated Adviser.

To acquire and retain the capacity of Nominated Adviser, the following conditions must be met:

1. Experience:The prospective Nominated Adviser must have adequate experience in capital market matters. Adequacy of experience is assessed case by case, on the basis of the documents (Resolution 1) submitted to ATHEX and any other additional information or action that may be requested by ATHEX. The assessment of experience takes into consideration the following in particular:

1.1 The ability to provide the investment service of item 6 and/or 7 of section A, ANNEX I, Law 4514/2018.

1.2 If the prospective Nominated Adviser is unable to provide at least one of the aforesaid investment services, account will be taken of its proven experience as a financial adviser, with active participation in at least two capital market projects in the last two years prior to approval of its application (by way of indication, named as an adviser in a Prospectus or a document of article 4 of Law 3401/2005 or having acted as lead adviser to listed companies in cases of mergers, acquisitions, takeover bids, etc).

2. Organizational and operational adequacy: The prospective Nominated Adviser must operate with an adequate internal organization. Such adequacy is assessed case by case, on the basis of the documents submitted to ATHEX and any other additional information or action that may be requested by ATHEX. The assessment of organizational and operational adequacy takes into consideration the following in particular:

2.1 The ability to provide the investment service of item 6 and/or 7 of section A, ANNEX I, Law 4514/2018.

2.2 If the prospective Nominated Adviser is unable to provide at least one of the aforesaid investment services, account will be taken of its full-time and exclusive employment of at least two executives with experience in corporate finance, the drawing up of investment plans or the provision of advisory services in matters requiring the publication of a Prospectus or Information Document pursuant to article 4 of Law 3401/2005 or the publication of an Information Document for a takeover bid pursuant to Law 3461/2006.

3. Absence of conflict of interest: the prospective Nominated Adviser should have no conflict of interest with the company.

3.1 Absence of conflict of interest may be presumed, by way of indication, by the adoption of procedures to ensure that there are no conflicts of interest with the individual companies, by the absence of a corporate link or interdependencies with the company, and by not auditing the company's financial statement

4. If the financial statements are audited, the audit must be carried out either by another (without ruling out an affiliate) legal entity or by the same legal entity, but by different natural persons or a different organizational unit to those occupied with the respective company's admission to trading on ENA.

5. No imposition of penalties: No sanctions should have been imposed by the competent supervisory authority or be pending against the legal entity for substantial violations of legislation relating to the services it provides.

6. Suitability: ATHEX makes a case-by-case assessment of the suitability of the prospective Nominated Adviser on the basis of the above minimum criteria and conditions as well as any other information which it deems appropriate.

7. If the prospective Nominated Adviser is a newly established company, experience is assessed on the basis of the experience and competence of its senior personnel.

 


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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