No person receiving a copy of the admission document in any territory other than the UK may treat the same as constituting an offer or invitation to him to purchase or subscribe for ordinary shares nor should he in any event purchase or subscribe for ordinary shares unless such an invitation or purchase complies with any registration or other legal requirements in the relevant territory. Any person outside the UK into whose possession the admission document comes or who wishes to purchase ordinary shares should satisfy himself that, in doing so, he complies with the laws of any relevant jurisdiction and that he obtains any requisite governmental or other consents and observes any other applicable formalities.

The ordinary shares have not been nor will they be, registered under the US Securities Act of 1933, as amended, or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Australia, Canada, Japan or the Republic of South Africa. Subject to certain exceptions, the ordinary shares may not be offered or sold in the United States, Australia, Canada, Japan or the Republic of South Africa or to or for the account or benefit of any national, resident or citizen of Australia, Canada, Japan or the Republic of South Africa or any person located in the United States. The admission document does not constitute an offer of, or the solicitation of an offer to subscribe for or buy, any ordinary shares to any person in any jurisdiction to whom it is unlawful to make such offer or solicitation in such jurisdiction and is not for distribution in, or into, the United States, Australia, Canada, Japan or the Republic of South Africa. The distribution of the admission document in other jurisdictions may be restricted by law and therefore persons into whose possession the admission document comes should inform themselves of and observe such restrictions.

Stephen Charles Coe Non-executive Director

Stephen is currently chairman of European Real Estate Investment Trust Limited and TOC Property Backed Lending Trust plc. He is also director (and chairman of the audit committee) of Raven Russia Limited, Leaf Clean Energy Company, Weiss Korean Opportunities Fund Limited and Trinity Capital PLC. 

He has been involved with offshore investment funds and managers since 1990 with significant exposure to property, debt, emerging markets and private equity investments.

He qualified as a Chartered Accountant with Price Waterhouse Bristol in 1990 and remained in audit practice, specialising in financial services, until 1997.  From 1997 to 2003 he was a director of the Bachmann Group of fiduciary companies and Managing Director of Bachmann Fund Administration Limited, a specialist third party fund administration company.  From 2003 to 2006 Stephen was a director with Investec in Guernsey and managing director of Investec Trust (Guernsey) Limited and Investec Administration Services Limited. He became self-employed in August 2006 providing services to financial services clients.