AIM Rule 26

Onward Opportunities Limited

Onward Opportunities Limited is a closed-ended investment scheme incorporated and registered in Guernsey with limited liability under The Companies (Guernsey) Law, 2008, as amended, with registered number 71526. It is listed on the Alternative Investment Market (AIM) on the London Stock Exchange and seeks to comply with the principles of good corporate governance as stated in the AIC Corporate Governance Code to the extent that is appropriate and practical for an AIM quoted company of its size and nature.

Last Updated: 29th March 2023

Description of the Company’s business

The Company was incorporated with limited liability in Guernsey under the Companies Law on 31 January 2023 as a non-cellular (closed-ended) company limited by shares. The Company’s investment objective is to seek to generate risk-adjusted absolute returns for Shareholders through investments in UK smaller companies. Returns are expected to be principally derived from capital growth over a target three to five-year holding period with an appropriate diversification of investment risk.

Investing Company Policy & Details

Our Investing Policy document can be accessed here via our document centre.

The country of incorporation and main country of operation

Onward Opportunities Limited is a company incorporated and operating in Guernsey, Channel Islands.

Constitutional Documents

Certificate of Incorporation and Articles of Association can be accessed here via our document centre.

Other exchanges and Trading Platforms

The Company’s securities are not listed or traded on any exchanges or trading platforms, other than AIM.

Shares in Issue

12,750,010 shares in issue

For further information, please click here.

Restrictions on the transfer of AIM securities

There are no restrictions on the transfer of the Company’s AIM securities.

Admission Document

Please click here for the most recent Onward Opportunities Limited Admission Document.

This can be found in our document centre together with any circulars or similar publication sent to shareholders within the past 12 months.

Corporate Governance

The Directors recognise the importance of sound corporate governance and the Directors intend to observe the requirements of the AIC Code so far as practicable and intend to apply for membership of the AIC following Admission.

The GFSC’s Financial Sector Code of Corporate Governance (the “Code”) applies to the Company. The GFSC has stated in the Code that companies which report against the UK Corporate Governance Code or the AIC Code are deemed to meet the requirements of the Code and need take no further action. Accordingly, as the Company will report against the AIC Code, it will be deemed to meet the requirements of the Code.

Please click here for our Corporate Governance Code. This document was last updated on 17th March 2023.

Board of Directors roles and responsibilities

See our team page for information about the Board and wider team of Onward Opportunities Limited.

Luke Allen chairs the Audit Committee and Henry Freeman chairs the Management Engagement Committee.

All Board members are on both the Audit Committee and the Management Engagement Committee.

If the AIM company is not incorporated in the UK, a statement that the rights of shareholders may be different from the rights of shareholders in the UK (where applicable)

The rights of shareholders of the Company may be different from the rights of shareholders of a UK Company.

UK City Code on Takeovers and Mergers

The Company is subject to the UK City Code on Takeover and Mergers.

Key Advisers

Nominated Adviser and Joint Broker
Cenkos Securities plc
6.7.8 Tokenhouse Yard

Joint Broker
Dowgate Capital Limited
15 Fetter Lane

Legal Advisers
Gowling WLG (UK) LLP
4 More London Riverside

Legal Advisers (Guernsey)
Collas Crill LLP
Glategny Court
PO Box 140
Glategny Esplanade
St Peter Port

FundRock Management Company (Guernsey) Limited
1 Royal Plaza
Royal Avenue
St Peter Port

Grant Thornton Limited
St James Place
St James Street
St Peter Port

Custodian and Principal Banker
Butterfield Bank (Guernsey) Limited
Glategny Esplanade
Regency Court

Link Market Services (Guernsey) Limited
Mont Crevelt House
Bulwer Avenue
St Sampson

Administrator and Company Secretary
Maitland Administration (Guernsey) Limited
3rd Floor
1 Le Truchot
St Peter Port