Financial Position and Prospects Procedures (FPPP) Sept 2020
Completion of a board memorandum (Memo) on the Financial Position and Prospects Procedures (FPPP) of an applicant is a crucial part of London’s IPO process. Directors of applicants to either the AIM Market or Main Market of the London Stock Exchange (LSE) are responsible for ensuring that they have established procedures which provide a reasonable basis for them to make proper judgements on an ongoing basis.
Essentially this means that the directors, including NEDs, must ensure that the FPPP includes procedures for establishing and reporting the company’s financial position and prospects are appropriate for a London public company.