Research Disclosures

Number	Disclosure
1	Liberum Capital makes markets in the companys shares.
2	Liberum Capital acts as corporate finance advisor or broker and provides investment banking & research services to the company for which it receives compensation.
3	Liberum Capital has in the last twelve months lead or co-managed an offer of securities by the company.
4	Liberum Capital [other than via marketmaking] has more than 0.5% of the share capital of the company.
5	The author of, or an individual who assisted in the preparation of, this investment recommendation (or a connected person), or a person who although not involved in the preparation of the recommendation had or could reasonably be expected to have had access to the substance of the recommendation prior to its dissemination, has a direct ownership position in securities issued by this company.
6	The author or an employee of Liberum Capital is a director or officer of the company

Disclosures as at 26-May-2017