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Frankfurt Stock Exchange Entry Standard listing requirements

Listing and ongoing requirements summary:

Please note that these listing rules are only a summary and it is important to understand that there are other ‘unwritten’ listing rules and requirements as well which are not published by the London Stock Exchange. As such, the rules and requirements provided herein are a summary of the written London Stock Exchange listing requirements and should only be relied upon in conjunction with a specialized London Stock Exchange Main Market listing partner like GPP and its law firms.

II. Entry Standard Segment

The Entry Standard segment is the entry level segment for primary (first/only) listings on the Frankfurt Stock Exchange. The following are the general requirements for listing the Issuer on the Entry Standard segment of the Frankfurt Stock Exchange Regulated Unofficial Market (Exchange Regulated Market), hereinafter “Frankfurt Stock Exchange” plus XETRA:

• Minimum age of company—2 years

• Minimum 30 shareholders;

• Company must provide evidence of a minimum nominal capital of €750.000 (EUR or its equivalent in another currency at the exchange rate on the date of confirmation) paid-in-capital and the nominal value of the shares must not be less than €1.00 (one euro);

• 10% minimum free float shares • Audited financials (National GAAP or IAS/IFRS US-GAAP, et. al.), prepared locally, for the year prior three years, or less if the company is not three years old;

• Approved Prospectus

• And other listing documents, forms and requirements.

• Our law firm, FSE Law GmbH (www.fselaw.com), conducts all of our listings and prospectuses.

Estimated Time to Listing—Approximately 24 weeks.

IMPORTANT:

The Frankfurt Stock Exchange Entry Standard is an extremely high quality entrance level stock exchange and, as such, the approval process is very much a case-by-case basis. Companies wanting to list on the Frankfurt Stock Exchange should consider the following unwritten requirements:

• Typically, we recommend that the company have at least €25,000,000.00 in revenues, but there is no requirement as such;

• The company should be profitable; • The company should have strong 5-year revenue and net profit growth prospects;

• The company should be operating in an industry that has strong growth prospects;

• The company’s financial audit should be completed by a top 5 or 6 auditing firm;

• The company should have a very good website, business plan and other corporate documents which present the company in the most favorable light possible. The company must put its best foot forward, not only for the exchange, but also for potential investors;

• If a company CEO travels to meet with the decision makers at the Frankfurt Stock Exchange and can convince them that they are a great company with great prospects, then such company might be approved with very little revenues and/or profits. Again, the approval or denial by the stock exchange is on a case-by-case basis.