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Nicholas Narraway to Head QCA's Legal Committee

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October 2, 2007

Fasken Martineau Stringer Saul partner, Nicholas Narraway, has accepted an invitation to become chairman of the Legal Committee of the Quoted Companies Alliance, an influential City lobbying and networking forum. The Committee's previous chair, Donald Stewart of Faegre & Benson, has now become the QCA's overall chairman.

The QCA is a not for profit organisation, dedicated to fighting for the interests of some 2,000 firms in the smaller quoted companies sector – including those on AIM and PLUS – who are outside the FTSE 350. This amounts to some 85% of UK quoted companies, typically with a market capitalisation below €500m.

A good example of the QCA's successes was its lobbying of the Treasury to adopt regulations for the UK implementation of the EU prospectus regime allowing institutional placings of securities to include brokers acting for discretionary private clients without requiring an FSA-approved prospectus to be prepared. The QCA's success in this campaign ensured the ongoing competitiveness of AIM in particular. The QCA is currently adding its weight to concerns over the consequences of the changes to the capital gains tax regime recently announced.

Commenting on the appointment, Nicholas Narraway said: "I am delighted to have the opportunity to continue to voice the concerns of smaller and emerging companies in this more active role. Regulations affecting smaller quoted companies continue to change, sometimes in quite fundamental respects, on both EU and domestic fronts. The Alliance is an influential body and its role in supporting the interests of smaller quoted companies should not be under estimated."