Disclaimer

Financial transactions involve risks of variation in interest rates, exchange rates, securities, commodities or indices. In view of these risks clients of the BPC Group (BPC Group Ltd., BPC Investments Ltd., Bourne Park Capital Ltd. and Bourne Park Capital AG) should have requisite knowledge and experience to assess the characteristics and risks associated with each contemplated financial transaction. Bourne Park Capital Ltd. (henceforth referred to as "BPC") will provide any additional information, reasonably requested by the client, in order to enable it to assess the risks and characteristics of the transaction. Accordingly, when the client enters into the contemplated financial transaction, it will be deemed to understand and accept the terms, conditions and risks associated with it. The client will also be deemed to act for its own account, to have made its own independent decision to enter into that financial transaction and to declare that such transaction is appropriate or proper for it, based upon its own judgement and upon advice from such advisers as it has deemed necessary. BPC clients are advised to undertake a detailed analysis of all financial, legal, regulatory, accounting and tax issues raised by any transaction they are contemplating, so as to evaluate the merits and suitability of the transaction and should not rely on BPC for this. BPC manages any possible conflict of interest as they arise and has a Conflicts Policy (available upon request). BPC will only act for professional and eligible counterparty clients as defined by the Financial Service Authority.

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