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Risk Disclosures

Investing in shares places your capital at risk. Please read these risk factors carefully before applying. This is a summary and not a substitute for the full risk section of the prospectus.

Last updated: 27 June 2026

1. Capital at risk

The value of shares can go down as well as up and you may get back less than you invest, including the loss of your entire investment. Past performance is not a guide to future performance.

2. Liquidity

Shares acquired through this offer may be difficult to sell. Until and unless the shares are admitted to trading, there may be no market for them, and you should be prepared to hold your investment for the long term.

3. No dividend guarantee

There is no guarantee that any dividend will be paid. The company may choose, or be required, to retain earnings rather than distribute them.

4. Dilution

Future fundraises may issue additional shares, which could dilute your percentage holding and the value of your investment.

5. Regulatory and market risk

The business operates in a regulated sector. Changes in law, regulation, interest rates or economic conditions could adversely affect the company's performance and the value of your shares.

6. Diversification

You should not invest more than you can afford to lose, and you should consider spreading your investments to reduce risk. If in doubt, seek advice from an authorised financial adviser.