available under the Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, 
any investment or investment activity to which this communication relates is available only to, and will be engaged in 
only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press 
release and should not act or rely on it. 
 
This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that 
may be associated with an investment in the new shares. Any investment decision to acquire or subscribe for shares in 
connection with the Directed Share Issue must be made on the basis of all publicly available information relating to 
the Company and the Company's shares. Such information has not been independently verified by the Managers. The 
Managers are acting for the Company in connection with the transaction and no one else and will not be responsible to 
anyone other than the Company for providing the protections afforded to its clients nor for giving advice in relation 
to the transaction or any other matter referred to herein. 
 
The information in this press release may not be forwarded or distributed to any other person and may not be reproduced 
at all. Any forwarding, distribution, reproduction or disclosure of this information in its entirety or in any part is 
prohibited. Failure to follow these instructions may result in a breach of the Securities Act or applicable laws in 
other jurisdictions. 
 
This press release does not constitute an invitation to warrant, subscribe, or otherwise acquire or transfer any 
securities in any jurisdiction. This press release does not constitute a recommendation for any investors' decisions 
regarding the Directed Share Issue. Each investor or potential investor should conduct a self-examination, analysis and 
evaluation of the business and information described in this press release and any publicly available information. The 
price and value of the securities can decrease as well as increase. Achieved results do not provide guidance for future 
results. Neither the contents of the Company's website nor any other website accessible through hyperlinks on the 
Company's website are incorporated into or form part of this press release. 
 
Forward-looking statements 
This press release contains forward-looking statements that reflect the Company's intentions, beliefs, or current 
expectations about and targets for the Company's future results of operations, financial condition, liquidity, 
performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. 
Forward-looking statements are statements that are not historical facts and may be identified by words such as 
"believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", 
or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are 
based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company 
believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances 
that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and 
are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the 
forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important 
factors could cause actual events to differ materially from the expectations expressed or implied in this release by 
such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking 
statements in this press release are free from errors and readers of this press release should not place undue reliance 
on the forward-looking statements in this press release. The information, opinions and forward-looking statements that 
are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. 
Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any 
forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this 
press release, unless it is not required by law or Nasdaq First North Premier Growth Market's rule book for issuers. 
 
Information to distributors 
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets 
in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/ 
593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance 
Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any 
"manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect 
thereto, the shares in the Company have been subject to a product approval process, which has determined that such 
shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of 
professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution 
through all distribution channels as are permitted by MiFID II (the "EU Target Market Assessment"). Solely for the 
purposes of each manufacturer's product approval process in the United Kingdom, the target market assessment in respect 
of the shares in the Company has led to the conclusion that: (i) the target market for such shares is only eligible 
counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional clients, as defined in 
Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK 
MiFIR"); and (ii) all channels for distribution of such shares to eligible counterparties and professional clients are 
appropriate (the "UK Target Market Assessment" and, together with the EU Target Market Assessment, the "Target Market 
Assessment"). Notwithstanding the Target Market Assessment, distributors should note that: the price of the shares in 
the Company may decline and investors could lose all or part of their investment; the shares in the Company offer no 
guaranteed income and no capital protection; and an investment in the shares in the Company is compatible only with 
investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an 
appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who 
have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is 
without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the 
Directed Share Issue. Furthermore, it is noted that, notwithstanding the Target Market Assessment, the Managers will 
only procure investors who meet the criteria of professional clients and eligible counterparties. 
 
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or 
appropriateness for the purposes of MiFID II or UK MiFIR; or (b) a recommendation to any investor or group of investors 
to invest in, or purchase, or take any other action whatsoever with respect to the shares in the Company. 
 
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in the 
Company and determining appropriate distribution channels.

1193098 2021-05-06


 
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(END) Dow Jones Newswires

May 05, 2021 19:38 ET (23:38 GMT)