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CONFLICTS OF INTEREST

Redburn (Europe) Limited’s Conflicts of Interest Policy is set out in Regulatory Information.

Redburn (Europe) Limited:

  • never owns positions in shares exceeding 0.5% of the issued share capital of a company on which we issue research (“Covered Company”)*;
  • has no shareholder which is a Covered Company;
  • is not itself, nor is it the holding company or a subsidiary of, a company which:
    –   is a market maker or liquidity provider in the financial instruments of a Covered Company;
    –   has ever been involved in a public issue of financial instruments of a Covered Company;
    –   is not a party to an agreement with a Covered Company relating to the provision of services as set out in Sections A and B of Annex I of Directive 2014/65/EU;
    –   is party to an agreement with the Covered Company relating to the production of the research; and
    –   has employees whose remuneration is linked to the provision of services as set out in Sections A and B of Annex I of Directive 2014/65/EU or who would receive or purchase the shares of a Covered Company to which the research relates prior to the public offering of such shares.