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Disclaimer

Where this communication has effect in the UK, it is issued by Global Coal Ltd (gC), which is authorised and regulated by the Financial Services Authority (FSA). The designated investments or investment services detailed are only directed to Eligible Counterparties and Professional Clients as defined by FSA. Any other persons, such as retail clients, should not rely on this document. If you have any doubt, contact your financial adviser.

gC's Scope of Permissions under the Financial Services and Markets Act 2000 prohibits gC from holding any positions in any of the designated investments it arranges on behalf of its clients. gC's directors, employees and affiliates are not permitted to conduct any transactions for their own account where a conflict or potential conflict of interest may occur without prior approval of gC. gC may be providing and may have provided within the previous 12 months, significant investment advice and service(s) in respect of any designated investments(s) or related investments, mentioned in this communication

Please note that telephone conversations with globalCOAL may be recorded.

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