Terms of Use

ACCEPTANCE

1.1 Any use by you of this web site or any other web site operated by or on behalf of Pre-X Capital Management Ltd or its affiliates (together "Pre-X") is conditional upon and subject to these terms and conditions.

1.2 By using this web site, you agree to accept these terms and conditions.

CONDITIONS

2.1 All information contained in this website is owned, licensed or controlled by Pre-X Capital Management Limited and may not be copied, reproduced, displayed or transmitted in any form without the prior express written permission of Pre-X Capital Management Limited. Requests for such permission must be made in writing to John Blowers, CEO, Pre-X Capital Management Limited, 3 Finsbury Square, London, EC2A 1LN.

PRIVATE CLIENT NETWORK MEMBERSHIP

3.1 The joining fee for Pre-X Private Client Network is £499 per annum, exclusive of VAT, payable in advance by credit card via the Website or by cheque payable to Pre-X Capital Management Limited.

3.2 Private Client Network Membership entitles you to receive access to investment opportunities that have been reviewed by us. We will notify you by email or post when new investment opportunities are issued. However, we accept no responsibility if, for whatever reason, you do not receive such notifications.

3.3 We will only offer Private Client Network Membership to you if you are a self-certified High Net Net Worth Individual, self certified Sophisticated Investor or Investment Professional, as defined by the Financial Services and Markets Act 2000 ('FSMA').

3.4 You may cancel your membership within 14 days of joining. The 14 day period will commence two working days following the date of despatch by you of the membership documents if they were sent by registered post, or simultaneously with the delivery or transmission if submitted online via www.pre-x.com, sent by hand or if given to us by facsimile or other electronic means.

3.5 Notwithstanding the provisions in clause 3.4 Private Client Network Membership may be terminated by you, with immediate effect, on receipt by us of written notice of termination or by us on giving three months' prior written notice of termination to you. We will not be obliged to refund subscription fees or any part thereof in the event that Private Client Network Membership is terminated by you at any time.

3.6 In order to comply with FSA Rules, we will seek confirmation from you on an annual basis that none of the details you supplied to us in connection with your application for Private Client Network Membership have changed. You shall inform us promptly if at any time information that you have provided to us in your application questionnaire or otherwise changes. If, in our opinion, you no longer meet the criteria described in clause 3.3 above, we shall be entitled to terminate your Private Client Network Membership on written notice with immediate effect.

RISK WARNING

4.1 No content should be regarded as recommendation that any investment is suitable for a particular investor or for a particular purpose. The price of any securities mentioned within the content and the income derived from them may go down as well as up and any past performance figures shown are not indicative of future performance. Shares in companies whose details are displayed on this web site are likely to be less realisable and to carry a higher risk than an investment in a share listed on AIM or the Official List of the London Stock Exchange.

4.2 An investment in an unquoted company is speculative and involves risk. The companies displayed on this website may not be suitable for all persons who are accordingly advised to consult a person authorised under the Financial Services and Markets Act 2000 who specialises in advising on investments of this kind before making any investment decisions. No public market for the shares of companies displayed on Pre-X may exist, and an active trading market may not develop for them. Share prices could be highly volatile.

4.3 Levels and bases of, and reliefs from, taxation are subject to change as UK legislation and regulations and the UK tax regime are amended from time to time any content on this site referring to such legislation, regulations or tax regime should not be relied upon.

4.4 All content provided through this site is only for your personal information and use, and is not intended to address your particular requirements or to be relied upon in making (or refraining from making) any specific investment or other decision. Such content shall not constitute any form of advice or recommendation by us.

4.5 Neither Pre-X nor any Third Party Providers nor any of their respective affiliates, offices, directors, employees, agents and licensors makes or has made any recommendation regarding any of the securities issued by any of the companies identified on this web site. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, index, report, opinion, advice, security or other Content.

4.6 The accuracy and completeness of documents and information relating to any company that is submitted to Pre-X for inclusion on this web site is principally the responsibility of that company's directors. Neither Pre-X nor any Third Party Provider is responsible for, nor do they undertake any steps to check, the accuracy of any information provided by any company whose details are displayed on this web site. You should confirm to your own satisfaction the accuracy and completeness of any information prior to entering into any investment.

4.7 Where you are unsure about any specific investment or other decision, you should obtain appropriate expert independent advice.

4.8 Unless otherwise stated, this site is directed only at, and the services provided through this site are only available to, persons in the United Kingdom. Persons outside the United Kingdom should not use or rely upon any content or services provided through this site.

4.9 Nothing included in this site constitutes an offer or solicitation to sell investments to anyone in any jurisdiction outside the United Kingdom in which such offer, solicitation or distribution would be unlawful.

DISCLAIMERS

5.1 The contents are obtained from a number of sources which are believed to be reliable. However, due to human error and the inherent hazards of electronic distribution, there may be delays, omissions or inaccuracies in the contents and they are provided to you on an "as is" basis without warranties of any kind.

5.2 The accuracy and completeness of documents and information relating to any company that is submitted to Pre-X for inclusion on this web site is principally the responsibility of that company's directors. Neither Pre-X nor any Third Party Provider is responsible for, nor do they undertake any steps to check, the accuracy of any information provided by any company using this web site. You should confirm to your own satisfaction the accuracy and completeness of any information prior to entering into any investment.

5.3 Pre-X and the Third Party Providers and their respective affiliates, officers, directors, employees, agents and licensors cannot and do not make any warranties or representations of any kind.

5.4 Pre-X and the Third Party Providers, and their respective affiliates, officers, directors, employees, agents and licensors disclaim to the fullest extent permitted by applicable law, with respect to this web site and the contents all express, implied and statutory warranties of any kind to you and to any third party including warranties as to accuracy, timeliness, completeness, fitness for purpose, satisfactory quality, non-infringement, currentness, or any representations or warranties arising from usage or custom or trade or by operation of law. Pre-X, the Third Party Providers and their respective affiliates, offices, directors, employees, agents and licensors assume no responsibility for the consequences of any errors or omissions in the content or otherwise relating to this web site.

5.5 Neither Pre-X or any Third Party Provider or any of their respective affiliates, offices, directors, employees, agents and licensors shall have liability for any losses or damages which may be suffered whether the same are suffered directly or indirectly or are immediate or consequential, which are (i) special damage, even where the party seeking redress is aware of the circumstances in which such special damage could arise or (ii) loss of profits, anticipated savings, business opportunity or goodwill or (iii) loss of data.

FORUM USAGE

6.1 Neither Pre-X Capital Management Limited nor its affiliates will accept any responsibility for information posted on the forum or any investment decisions made based on any information posted on the forum.

6.2 You agree not to post any abusive, obscene, vulgar, slanderous, hateful, threatening, sexually-oriented or any other material that may violate any applicable laws. Doing so may lead to you being immediately and permanently banned (and your service provider being informed). The IP address of all posts is recorded to aid in enforcing these conditions.

6.3 Please report offensive posts to us by emailing info@pre-x.com.

6.4 Never intentionally make, false or misleading statements about investments, their price or their prospects. If you do, you may be committing a criminal offence.

6.5 Please respect other people's work and do not post material that infringes other's copyright.

6.6 Your user name and password must only be used by you, keep them safe. If a posting is made using your user name and password it will be considered to have been posted by you.

6.7 You agree that Pre-X has the right to remove, edit, move or close any thread or post at any time should they see fit. As a user you agree to any information you have entered being stored in a database. While this information will not be disclosed to any third party without your consent Pre-X cannot be held responsible for any hacking attempt that may lead to the data being compromised.

DATA PROTECTION & PRIVACY

7.1 We take our obligations under the Data Protection Act 1998 and all related regulations ("the Act") very seriously and have taken steps to ensure compliance with the provisions of the Act.

7.2 When you register and use the Site, we will ask you to provide certain data, such as your contact details and demographic information.

7.3 The principal purposes for which we process and store your Personal Data are:
• to allow you to personalise services provided via the Site;
• to monitor, improve and administer the Site and the services provided on the Site;
• to enable us to conduct surveys and aggregate user profiles;
• to enable us to conduct prize draws which you have entered via the Site;
• to provide you with information on selected products and selected services that we think may be of interest to you (unless you have asked us not to do so); and
• to enable us to comply with our legal and regulatory obligations.
Full details of the purposes are set out in our Data Protection registration.

7.4 Pre-X Capital Management Limited will not share, copy or distribute any personal or business contact details with any third party without the prior consent of the person or business in question.

7.5 To enable us to provide the services available on the Site and to monitor and improve the Site, we may gather certain information about you, including details of your operating system, browser version, domain name and IP address, the details of the web site you linked from to the Site.

7.6 We may use cookies only to store information such as your User name and your session identifiers to enable us to identify whether you are registered on to the Site and, if so, to shortcut your access to the Site. We will only read cookies from your cookie file placed there through your web browser's interaction with the Site.

7.7 We endeavour to take all reasonable steps to protect your Personal Data including the use of encryption technology, but cannot guarantee the security of any Personal Data you disclose online.

7.8 We have certain responsibilities under the Money Laundering Regulations 2003 and the FSA Rules to verify the identity of clients and may need to make certain enquiries and obtain certain information from you for that purpose. You confirm that all information you supply will be accurate and that we may disclose such information as we consider necessary to comply with any reporting or legal and regulatory requirements.

7.9 You agree that we may disclose to the FSA and to any other regulatory authority to which we are subject, or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you or, if relevant, any of your clients.

7.10In the event that you wish to see a copy of your Personal Data held by us please write to Data Protection Officer, Pre-X Capital Management Limited, 3 Finsbury Square, London EC2A 1LN.

7.11We will amend or delete any Personal Data relating to you which is found to be incorrect or not relevant in accordance with the Act.