MEREBIS CAPITAL MANAGEMENT LLP

Introduction

The information within this website is issued by Merebis Capital Management LLP (“Merebis”) and is unsuitable for any party who does not qualify as an Intermediate Customer or Market Counterparty, as per the definitions of the Financial Services Authority (“FSA”).

The information below explains the legal and regulatory restrictions in relation to the website.

Please read this disclaimer carefully which may be subject to change without notice. By accessing any page of this website, you agree to be bound by the contents of this disclaimer, including the terms below. If you do not agree to the terms below, please exit the website.

This page is designed to filter out unsuitable investors from accessing the website and as such Merebis cannot be responsible for any misrepresentations you may make in gaining unauthorised access to the website.

These terms may be amended without notice to you. Your continued use of the website following any changes will mean that you accept such changes.

Regulatory disclosures

Merebis is authorised and regulated by the Financial Services Authority. Most if not all of the protections provided by the United Kingdom regulatory structure will not apply to investments in the fund(s) detailed within this site.

The content of this website is unsuitable for Private Customers.

Where references on this website are made to unregulated collective investment schemes they are being communicated by Merebis only to persons to whom it may lawfully be issued under The Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 and Annex 5 to Chapter 3 of the FSA's Conduct of Business Sourcebook.

The information and opinions contained on this website are for background purposes only, do not purport to be full or complete and do not constitute investment advice.  This website does not constitute or form part of any offer to issue or sell, or any solicitation of an offer to subscribe or purchase, any investment nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore.

The website does not constitute and should not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorised. Persons resident in territories other than the UK should consult their professional financial advisers as to whether they require any governmental or other consents or need to observe any formalities to enable them to invest in any product described in this website.

Content of Website and Liability

The details in this website and any documents posted may be restricted in certain jurisdictions. The above information is for general guidance only, and it is the responsibility of any person or persons in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction.

By proceeding you agree, so far as this is permitted under the provisions of the UK regulatory system, to the exclusion by us of any liability, including without limitation that arising from any loss of profit or any other damage direct or consequential, in respect of any errors and/or omissions by us and/or any relevant third parties in respect of the content. Any opinions or estimates included herein constitute a judgment as of the date of publication and are subject to change without notice. No reliance may be placed for any purpose on the information and opinions contained in this website or their accuracy or completeness and no representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained in this website.

The website is protected by one or more copyrights, patents, database rights, trademarks, servicemarks and/or other intellectual property and proprietary rights that are owned by Merebis, its affiliates and/or third parties.

You may not remove any copyright, trademark or other proprietary notice or legend contained on (or printed from) the website. You may not decompose, decompile, reverse engineer, disassemble or otherwise deconstruct all or any portion of the website. You may not publish, broadcast, retransmit, reproduce, repackage, frame, commercially exploit, create any derivative of or otherwise redistribute all or any portion of the website except as explicitly permitted in this User Agreement.

You may print copies of any accessible portion of the website only for your own personal use. You may discuss information that you learn from the website with your financial, legal or tax advisors, and others with whom you share investment decisions.

You represent and warrant that you have full authority and all rights necessary to enter into and fully perform all of your obligations pursuant to these Terms.

MEREBIS DISCLAIMS ALL WARRANTIES WITH RESPECT TO THE WEBSITE THAT THE LAW ALLOWS IT TO DISCLAIM. THE WEBSITE IS PROVIDED "AS IS" AND "AS AVAILABLE." WE DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND WITH RESPECT TO THE WEBSITE INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY AND PROPRIETARY RIGHTS. WITHOUT LIMITING OUR GENERAL DISCLAIMER, WE DO NOT WARRANT THE AVAILABILITY, ACCURACY, COMPLETENESS, TIMELINESS, FUNCTIONALITY, RELIABILITY, SEQUENCING OR SPEED OF DELIVERY OF THE WEBSITE OR ANY PART OF THE CONTENT.

THIS DISCLAIMER OF LIABILITY APPLIES TO ANY AND ALL DAMAGES OR INJURY, INCLUDING THOSE CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, COMMUNICATION LINE FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO, ALTERATION OF OR USE OF ANY ASSET, WHETHER FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE OR UNDER ANY OTHER CAUSE OF ACTION.

You agree to indemnify, defend and hold harmless Merebis and its affiliates, agents, employees and third party sources from and against any and all suits, losses, claims, demands, liabilities, damages, costs and expenses (including reasonable attorneys' fees) that arise from or relate to: your use of the website, your breach of these Terms or any representation, warranty or covenant made by you in these Terms, your violation of any applicable law, statute, ordinance, regulation or of any third party's rights, or claims asserted by third parties which, if proven, would place you in breach of representations, warranties, covenants or other provisions contained in these Terms.

Password Confidentiality

You are solely responsible for maintaining the confidentiality and security of all Content and your password. You may not disclose any Content or your password to any third party, except that you may discuss information that you learn from the website with your financial, legal or tax advisors, and others with whom you share investment decisions.

You accept full responsibility for any use of your password. You must notify Merebis immediately of any actual or suspected loss, theft or unauthorized use of your password.

We are not obligated to inquire as to the authority or propriety of any use of or action taken under your password. We will not be responsible for any loss to you that arises from such use or action or from your failure to comply with these provisions.

Solicitation - United States of America

The provision of the information in this website does not constitute an offer to purchase securities to any person in the United States or to any U.S. Person as such term is defined under the Securities Act of 1933, as amended. The information contained in this website about Merebis is not directed to any person in the United States.

Technological problems

Merebis is not liable for any technological problems and any impact that they may have.

All or any portion of the website may not be available and may not function properly at any time. We make reasonable efforts to avoid technological problems, but at any time the website may have and may cause technological problems such as viruses and other damaging computer programming routines or engines.

We take reasonable security precautions when using the Internet, telephone or other means to transport data or other communications, but we disclaim liability for any interception of data or communications. We make reasonable efforts to ensure that the website is secure but we do not guarantee the security of the website.

We are not liable for any damage or injury caused by the performance or failure of performance of all or any portion of the website. We are not liable for any defects, delays or errors in or resulting from your use of the website.

Merebis is not responsible for information on any third party website that is referred in, or accessible or connected by hyperlink to, the website.

If you access any third party website through the website or otherwise, you do so at your own risk. Hyperlinks to or from the website do not constitute third party endorsement of, sponsorship by or affiliation with us.

Conditions of Use

The use of your password to access this site beyond this point validates your status as an intermediate customer or market counterparty and you warrant as such. Accordingly, the protections afforded to private customers under the Rules of the FSA and any right of action against BCML under the Financial Services and Markets Act 2000 will not be available to you. Please consult your legal adviser or visit FSA for further explanation.

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