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Don&#39t take AIM, plead stockbrokers

Leading stockbrokers are concerned that the merger of the London and Frankfurt stock exchanges could spell the end of the UK&#39s Alternative Investment Market.

Stockbroker Winterflood Securities chief executive Brian Winterflood fears that, under the proposed merger, smaller companies would be traded in Frankfurt, eliminating the purpose of AIM.

Winterflood raised his concerns with LSE chief executive Don Cruickshank this week and has threatened to vote against the merger unless his fears are addressed. The vote, to be held in September, needs the backing of 75 per cent of the 298 LSE stockbroking members to be carried.

After meeting Cruickshank, Winterflood says he feels the LSE has taken his concerns on board about the future role that AIM would play.

The market has earned a solid reputation in the City as a listing where smaller companies can raise capital by offering shares. Some of the players who have graduated from AIM include Premier Asset Management, DBS and Celtic Football Club.

Winterflood says: “I could not have been more satisfied. They have taken our concerns about the future role of AIM under consideration and will make a statement in due course.”

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