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‚ÄčAll research, news and commentaries on the website has been prepared and issued by Equity Strategies Limited for publication in the United Kingdom. All information used in the publication of the research, news and commentaries on this website have been compiled from publicly available sources that are believed to be reliable; however we do not guarantee the accuracy or completeness.

Opinions contained in the research, news and commentaries on this website represent those of Equity Strategies Limited at the time of publication.

The research, news and commentaries on this website are provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to retail investors. In the UK,  any such individual who comes into possession of the research, news and commentaries on the website should consult their properly authorized professional adviser, or undertake one of the 'self-certified' sophisticated investor tests that are available.

This is not a solicitation or inducement to buy, sell, subscribe, or underwrite securities or units. Research, news and commentaries on this website are provided for information purposes only and should not be construed as an offer or solicitation for investment.

Research, news and commentaries on this website are non-objective and have not been prepared in accordance with the legal requirements designed to promote the independence of investment research and are not subject to any prohibition on dealing ahead of the dissemination of investor research.

The research, news and commentaries provided by Equity Strategies Ltd should not be regarded as an offer to buy or sell securities and should not be regarded as an offer or solicitation to conduct investment business as defined by The Financial Services and Markets Act 2000 ("the Act") nor does it  constitute a recommendation. Opinions expressed do not constitute investment advice. Any information on the past performance of an investment is not necessarily a guide to future performance. We operate outside the scope of any regulated activities defined by the Act. If you require investment advice we recommend that you contact an independent adviser who is authorised by the Act to conduct such services.

Equity Strategies Limited does not hold any positions in the securities mentioned in this report. However its directors, officers, employees and contractors may have a position in any or related securities.

Equity Strategies Limited or its affiliates may perform services or solicit business from any of the companies mentioned in this research.

The value of securities mentioned can fall as well as rise and are subject to large and sudden swings. In addition it may be difficult or not possible to buy, sell or obtain accurate information about the value of securities mentioned in the research, news and commentaries on the website.

These Terms and Conditions for reading and/or downloading Research, News and Commentaries should be read in conjunction with the General Terms and Conditions for using the website.

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