Disclaimer

By accessing any of the information published on the website of gutbrod, partin & partner ag (hereafter referred to as "gpp") on the world wide web (hereafter referred to as “gpp website”), you agree to be bound by the following terms and conditions:

Use of the gpp website
The entire content of the gpp website is protected by copyright with all rights reserved. Downloading and printing out of individual pages and/or sections of the gpp website is permitted providing neither the copyright notices nor other legally protected names are removed. gpp retains all ownership rights on any publications or other data that is downloaded from the gpp website or copied in any other way. Full or partial reproduction, transmission (by electronic means or otherwise), modification, linking to or use of the gpp website for public or commercial purposes are forbidden without the prior written consent of gpp.

No offer
No information published on the gpp website constitutes an offer, an invitation or a recommendation to buy or sell any investment instruments or to conclude any other transactions.

No warranty
No warranty, express or implied, is made concerning the accuracy of the information or views published on the gpp website.

Limitation of Liability
Under no circumstances, including, but not limited to, negligence, shall gpp be held liable for any losses or damages whatsoever, including, but not limited to, direct, especially indirect or consequential damages arising out of or in connection with access to, use of, performance of or retrieval from the gpp website or resulting from links to third-party websites, even if gpp’s attention has been drawn to the possibility of such damages.

Links
Some of the links on the gpp website lead to third-party websites. gpp has not checked the sites linked with the gpp website and assumes no responsibility for their content or for the products, services etc. offered thereon.

Material interests
gpp and/or its board of directors, executive management and employees may have or have had shares or holdings in the listed securities or have acted or served as market makers in connection therewith. Furthermore, such persons, natural or legal, may have or have had connections with the companies concerned, may provide or have provided corporate finance or other services to them, or may work or have worked for them as directors.

Performance
The future performance of an investment cannot be deduced from previous price performance, i.e. the value of an investment may fall as well as rise. Therefore, gpp cannot guarantee that any capital invested will maintain its value or increase in value. For example, investments in foreign currencies may fluctuate as a result of changes in currency exchange rates.

Local legal restrictions
The gpp website is not intended for any person in any jurisdiction in which (by reason of that person's nationality, place of residence or otherwise) publication of or access to the gpp website is prohibited. Persons in respect of whom such prohibitions apply must not access the gpp website.