What approval is necessary for an admission document intended for private placing to QIs?

In the context of private placements to qualified investors (QIs), the necessity for Nomad (Nominated Adviser) approval is paramount. A Nominated Adviser is crucial in ensuring that the admission document meets all regulatory standards and is suitable for the market. This analysis includes reviewing the document to ensure compliance with the relevant listing rules and regulations.

Nomad approval serves as a validation of the document's content and its adherence to applicable rules, ensuring that the information presented is clear and transparent for potential investors. Given that the document is aimed at QIs, the involvement of a Nomad is essential to facilitate that the offering aligns with the expectations and requirements for such placements.

While other forms of approval, such as from the FCA or shareholders, may be important in different contexts, they are not specifically required for admission documents related to private placements aimed at QIs. Additionally, stating that no approval is needed would neglect the essential role of the Nomad in this process. Hence, the requirement for Nominated Adviser approval ensures that the private placement can proceed within the regulatory framework, protecting both the issuer and investors involved.