Terms & Conditions of use
Please read the following terms and conditions carefully.

The following are the terms and conditions on which you may use the Liberum website (the "Site") and by accessing this Site you agree to be bound by them. If you do not accept these terms and conditions, please do not use this Site.

The Site is maintained by Liberum Capital Limited ("Liberum") and is issued and approved in the UK by Liberum. Liberum is incorporated in England and Wales (no. 5912554) with registered address Ropemaker Place, Level 12, 25 Ropemaker Street, London EC2Y 9LY. Liberum Capital is authorised and regulated in the UK by the Financial Conduct Authority (FCA Register number 465050).

Use of Site
The information provided on this Site is for personal use and information purposes only. Nothing on this Site should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction, or to provide any investment advice or service.

The material on this Site is designed for use by professional investors in the UK only and is not directed to, nor intended for distribution or use by, any person or entity in any jurisdiction or country where the publication or availability of this Site or such distribution or use would be contrary to local law or regulation. If you choose to access information on this Site, it is your responsibility to comply with the applicable local, national or international laws and any use of this Site outside the UK is entirely at your own risk. For guidance relating to your specific situation, please contact your legal adviser.

Liberum reserves the right to terminate your access to this Site, without notice, if Liberum, in its sole discretion, believes that your continued use of the Site or any of its contents is in violation of any applicable law or is harmful to the interests of Liberum.

Security & personal data
Please remember that Internet communications are not secure unless the data being sent is encrypted. Liberum cannot accept any responsibility for the unauthorised access by a third party and/or the corruption of data being sent by individuals to Liberum.

All information provided to Liberum through this Site is used solely by Liberum and its subsidiaries, affiliates, principals and employees and is not sold or provided to any other company or person.

By providing any personal data through this Site you agree that Liberum and its subsidiaries, affiliates, principals and employees wherever located throughout the world may use, store or otherwise process such personal data. Such personal data may be processed by Liberum and its subsidiaries, affiliates, principals and employees for the purposes of the evaluation of your potential financial needs and/or otherwise marketing financial services to you.

Our website uses cookies to distinguish you from other users of our website. A cookie is a piece of data stored on a user's hard drive containing information about the user.

The cookies we use are "analytical" cookies. They allow us to recognise and count the number of visitors and to see how visitors move around the site when they are using it. This helps us to improve the way our website works.

The information below explains the cookies we use on our website(s) and why we use them:

  • Google Analytics cookies: we use these cookies to collect information about how visitors use our website, including details of the site where the visitor has come from and the total number of times a visitor has been to our website. We use the information to improve our website and enhance the experience of its visitors.

  • CloudFlare Cookie: we use this cookie to identify individual clients behind a shared IP address and apply security settings on a per-client basis. This cookie does not correspond to any user ID and does not store any personally identifiable information. This cookie is strictly necessary for CloudFlare’s security features and cannot be turned off.

  • Local Shared Objects (Flash cookies): we use Adobe Flash Player to deliver certain content. Local Shared Objects, otherwise known as Flash cookies, are used for this in order to check if your browser supports Flash.

By using our website you consent to our use of cookies as updated from time to time and the cookies we use will be stored on your device. However, you can chose to disable cookies by modifying the settings in your browser. You can find out how to do this, and find more information on cookies at: www.allaboutcookies.org.

You can also find out how to disable Flash cookies at Adobe.com - see www.adobe.com/products/flashplayer/security for details.

If you do not accept our use of cookies as set out in these Terms and Conditions, please set your internet browser to reject cookies. This may impair your ability to use our website.

Accuracy of information
The information contained on the Site may have been taken from trade and statistical services and other sources which Liberum deems reliable. However, Liberum does not represent that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed on the Site reflect our judgement at the date of issue and are subject to change without notice. Any pricing is indicative and does not, and is not intended to, constitute either an offer to buy or sell nor a representation that a purchase or sale can be 
effected at that price. Past performance is not indicative of future results.

Disclosure of interests
Liberum or its employees may, from time to time, maintain a long or short position in securities referred to on the Site or other securities of issuers referred to on the Site or in related futures or options; purchase or sell, make a market in, or engage in any other transactions involving such securities or issuers, earn brokerage or other compensation in respect of the foregoing; and provide other services to any issuer named on the Site. Liberum may have acted as manager or co-manager of a public offering of securities discussed on the Site in the past three years.

Liberum may, where permitted by law, act upon material available on the Site prior to its publication on the Site.

Liability for contents
These 'exclusion of liability' provisions should be read carefully as they exclude or limit Liberum's legal liability in connection with your use of this Site. Nothing in these terms and conditions shall exclude, limit or restrict our duties and liabilities to you under the Financial Services and Markets Act 2000, or any conduct of business rules which Liberum are bound to comply with.

Liberum maintains this Site for the convenience of its users. Although reasonable care has been taken to ensure that the information provided on this Site is reliable, no warranty or representation is given as to its accuracy or completeness and Liberum hereby excludes, to the fullest extent permitted by applicable law, any and all (express or implied) representations and warranties of any kind including, without limitation, any warranty as to accuracy, availability, completeness or suitability for a particular purpose of the Site or any part of the content or materials.

Liberum accepts no liability including (without limitation) in either contract, tort or negligence, to the fullest extent permitted by applicable law, for any loss, including (without limitation) direct, indirect, incidental, special or consequential, arising out of, or in connection with your use or inability to use the Site, or in connection with any error, omission, defect, computer virus or system failure, or for any loss of any profit, goodwill or reputation, even if expressly advised of the possibility of such loss or damages, arising out of or in connection with the access of, use of, performance of, browsing in or linking to other sites from this Site.

Liberum reserves the right to modify, suspend or discontinue, temporarily or permanently, the Site or any part of it, with or without notice, at any time. You agree that Liberum shall not be liable to you or to any third party for any such modification, suspension or discontinuance of the Site.

Opinions and any other content on the Site are provided by Liberum for personal use and informational purposes only and are subject to change without notice.

Nothing contained on the Site constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or otherdecision. You should obtain relevant and specific professional advice before making any investment decision.

Third party products & services
This Site may provide links to third party websites over which Liberum has no control. Where Liberum provides hypertext links to third party internet websites, such links are not an endorsement by Liberum of any products or services in such websites.

You use such links entirely at your own risk and Liberum accepts no responsibility or liability for the content, use or availability of such websites. Liberum has not verified the truth or accuracy of any content of such websites. You are reminded that, when you enter other websites of firms which are not regulated by the Financial Conduct Authority, via the use of links, you will not benefit from the regulatory protections afforded to you in using this Site.

This Site may also contain some material provided by third parties and Liberum accepts no responsibility or liability for the accuracy of such material.No third party is permitted to link any other website to this Site without obtaining Liberum's prior written consent.

Governing law
English law governs these terms and conditions and you agree that the English Courts shall have exclusive jurisdiction to determine any matter or dispute in connection with or arising out of this Site and these terms and conditions.

© Liberum Capital Limited. All rights, save as expressly granted, are reserved. Reproduction in any form of any part of the contents of this Site without prior written consent is prohibited unless for personal use only.

New York


Ropemaker Place, Level 12 25 Ropemaker Street London EC2Y 9LY

New York

20th Floor 575 Fifth Avenue New York NY 10017