Research

Any opinions, estimates or forecasts regarding the Company's performance made by third parties including Edison and Merchant Securities, are theirs alone and do not represent opinions, estimates or forecasts of the Company, or its directors, officers or employees. By distributing the following document on its website, the Company does not imply its endorsement of or concurrence with any information, conclusions or recommendations contained therein. The Company does not accept any responsibility whatsoever for the views of these or any other analysts reporting on the Company. The Company has paid a fee to Edison and Merchant Securities for the production of their research note.

The Company is not regulated by the Financial Services Authority and cannot offer investment advice. Nothing contained herein is intended to be or should be taken to be a "financial promotion" within the meaning of section 21 of the Financial Services and Markets Act 2000. Nothing contained herein should be taken as a recommendation to buy or sell shares in the Company or to take or refrain from taking any other action or place any reliance on any of the information contained herein.

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