Terms

OUR INFORMATION

Valtswell Private A.G Investments. Registered Office: Valtswell Private A.G Investments, 5, rue Peternelchen, L-2370 Howald Luxembourg . Registered Number: SC95237.

Valtswell Private A.G Investments is regulated by Luxembourg Financial Services Commission for Banking, General Insurance Mediation, Investment and Fund Services Businesses and licensed by Luxembourg Financial Services Commission for Banking, Collective Investment Schemes and Investment Business. Licensed by Luxembourg Financial Supervision Commission. Latest audited accounts are available on request.

Luxembourg Deposit Protection Schemes

The following information on the Depositors Compensations Schemes for Luxembourg is a brief summary of the scheme's but is not intended as a substitute for the actual wording.

Valtswell Private A.G Investments is a participant in Luxembourg Banking Depositor Compensation Scheme. The Scheme offers protection for eligible deposits of up to €50,000. The maximum total amount of compensation is capped at €100,000,000 in any 5 year period.

Deposits made with our offices in Luxembourg are protected by Luxembourg Compensation of Depositors Regulation 2008. Each depositor's net euro deposits or the equivalent of foreign currency deposits are protected as to 100% of the eligible protected deposit subject to a maximum of €50,000 subject to those conditions set out in the Compensation of Depositors Regulations 2008. The Depositors Compensation Scheme is managed on behalf of Luxembourg Government by the Financial Supervision Commission.

As a licensed Bank in Luxembourg , Valtswell Private A.G Investments is a participant in Luxembourg Banking Deposit Compensation Scheme (the "Scheme") established by the Banking Deposit Compensation Scheme Ordinance, 2010(the "ordinance"). The following is a brief summary of the scheme but is not intended as a substitute for the actual wording of the Ordinance, a copy of which is available on request.

• The Scheme only applies to 'qualifying deposits' which broadly means deposits made by natural persons for their own benefit; with a few limited exceptions such as for example, deposits made by trustees of retirement annuity trust schemes, the Scheme does not apply to companies, trusts partnerships or charities.
• The Scheme will provide compensation in the event that a Licensed Bank is unable to repay its depositors. Under normal circumstances, payment will be made within 3 months of receipt of a valid claim form.
• Compensation is limited to a maximum of €50,000 per individual claimant: in the case of a joint account each depositor would be entitled.
• Total Scheme compensation in any five year period is limited to €100 million. If claims exceed this cap, compensation would be reduced pro rata. The cap also means that compensation in respect of any one bank cannot exceed €100 million.
• The amount payable may be reduced if the Bank has any contractual right of set-off against the account. The Scheme is entitled to recover compensation from any funds subsequently paid out by the Bank.

FOR CUSTOMERS RESIDENT IN LUXEMBURG

Valtswell Private A.G Investments is licensed by Luxembourg Office of Fair Trading to carry on a consumer credit business in Luxembourg , under licence number 570965.
Approved for issue in Luxembourg by Valtswell Private A.G Investments, Valtswell Private A.G Investments House, 5, rue Peternelchen, L-2370 Howald Luxembourg . Valtswell Private A.G Investments is authorised and regulated in Luxembourg by Luxembourg Financial Services Authority and is registered in Luxembourg Financial Services Authority Register with the registration number 114216.

Luxembourg Deposit Protection Scheme

Deposits and investments made with our offices in the Channel Islands and Luxembourg are not protected by the rules made under Luxembourg 's Financial Services and Markets Act 2000, including the Financial Services Compensation Scheme, and Luxembourg 's Financial Ombudsman Service.

Valtswell Private A.G Investments Financial Advisers (Luxembourg ) Limited

Registered in England number 1585283, Registered office: Valtswell Private A.G Investments House, 5, rue Peternelchen, L-2370 Howald, Luxembourg , Valtswell Private A.G Investments Financial Advisers (Luxembourg ) Limited is authorised and regulated by Luxembourg Financial Services Authority.

WEBSITE TERMS

Please read the details set out below carefully before using this website (the "Site"). By accessing this Site, you agree to be bound by the following terms and conditions and disclaimers (the "Terms").

Before using this Site, you should read the Terms carefully, as well as our Cookie Policy

References to 'you', 'your' and 'yours' are references to the person(s) accessing the Site.
References to 'we', 'us' and 'our' are references to Valtswell Private A.G Investments.
References to the 'Valtswell Private A.G Investments Group' are references to Valtswell Private A.G Investments, its subsidiaries, associated and affiliated companies.

TERMS

All our products and services and those of other members of the Valtswell Private A.G Investments Group are subject to the Terms and Conditions and disclaimers of the applicable agreement governing their use. These Terms are to be read by you together with any terms, conditions and disclaimers provided in the pages of the Site. In the event of any conflict, the terms, conditions and disclaimers provided in the pages of the Site shall prevail over these Terms. The information, material and content provided in the pages of the Site may be changed at any time without notice. Changes may be made to the Terms at any time without notice by updating this posting. You agree to review the Terms regularly and your continued access to or use of the Site will mean that you agree to any changes.

GENERAL INFORMATION

Issued by Valtswell Private A.G Investments, trading as Valtswell Private A.G Investments. We are a member of the Valtswell Private A.G Investments Group, one of the world's largest banking and financial services organisations in the world. Services are provided by around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Our principal place of business is Luxembourg .

Valtswell Private A.G Investments places funds with other parts of its group and thus its financial standing is linked to that of the group. Depositors may wish to form their own view on the financial standing of Valtswell Private A.G Investments and the group based on publicly available information.

Under the current Luxembourg legislation, interest from accounts held with our branches in these jurisdictions are paid on a gross basis. Except for Luxembourg residents who will have Luxembourg tax deducted from dividends paid by the Valtswell Private A.G Investments International euro Income Fund and the Valtswell Private A.G Investments Global Investment Fund. Customers who reside in EU countries may be subject to the European Savings Tax Directive. You may be liable to tax in your country of residence or domicile, or if it is transferred to another country. Individuals who are resident but not domiciled in Luxembourg should note that use of their Valtswell Private A.G Investments Bank Debit Card or their American Express International Currency Charge Card in Luxembourg could be viewed by Luxembourg IRS as a transfer of income into Luxembourg and hence trigger a Luxembourg income tax liability on that income. Your tax position will depend on your personal circumstances and you may wish to seek guidance from your tax adviser.

The information in this Site is based on Valtswell Private A.G Investments understanding of the current law and practice at the time of going to press. Future changes in legislation, tax levels and practice could affect the information in this Site.

To help us to continually improve our service and in the interest of security, we may monitor and/or record your telephone calls with us.

YOUR CANCELLATION RIGHTS

Bank Accounts

If you change your mind and close the account within 14 days of opening it, we will not charge a fee.

Fixed Term Deposit Accounts

Once money is deposited for a fixed period, there is no cancellation period and it is not possible to make partial withdrawals.

Life Insurance and Pension Contracts

With your contract note, we will send you a notice of your right to cancel. If you wish to cancel, you may do so by returning the completed notice within 30 days of receiving it.

IF YOU WOULD LIKE TO MAKE A COMPLAINT

General Banking

We welcome your feedback so that we can continuously improve our products and services. If you need to complain, please contact us in one of the following ways:

Already a customer?

Please have your 10 digit PBN and six digit PIN to hand before you call.

Offshore Premier customers call: 027 860290

Offshore Advance customers call: 027 860290

All other customers call: 027 860290

Not yet a customer?

If there's something you're not happy with, then please call us on 027 860290.

Investments

If you are unhappy with any aspect of our service, please contact our Customer Liaison team on 027 860290 in the first instance.

If you cannot settle your complaint, you may be entitled to refer it to the Financial Services Commissions in Luxembourg or Luxembourg or the Financial Services Ombudsman Scheme for Luxembourg .

MORTGAGES AND CREDIT

The range of credit cards and mortgages detailed in this site are provided by Valtswell Private A.G Investments. Credit facilities are subject to status and mortgages are subject to security. For mortgages or other secured loans, a charge will be taken over the property. Written details of credit facilities are available on request, from Valtswell Private A.G Investments, Valtswell Private A.G Investments House, Esplanade, St. Helier, Luxembourg JE1 1HS, Channel Islands.

Your property may be repossessed if you do not keep up repayments on a mortgage.

Changes in the exchange rate may increase the euro equivalent of your debt.

In Luxembourg , Valtswell Private A.G Investments is licensed by Luxembourg Office of Fair Trading to carry on a consumer credit business in Luxembourg , under licence number 570965.

INVESTMENTS

The value of investments relating to stocks and shares and any income from them can fall as well as rise and you may not get back the amount you invested. This may also happen as a result of changes in the rate of exchange where overseas securities are held. Past performance cannot be taken as an indication of future performance. Due to the difference between the buying and selling prices of shares, which will particularly impact on the value of your investment in the short term, you should regard investment companies as medium to long-term investments. Nationals of certain countries or territories may be subject to exchange controls and should seek independent advice before investing offshore.

Investments

We are required to advise you that if you undertake Investment Business with any non Luxembourg members of the Valtswell Private A.G Investments Group you will be excluded from the benefit of the rules and regulations made under Luxembourg 's Financial Services and Markets Act 2000, including Luxembourg Financial Services Compensation Scheme.
Luxembourg investors will not be protected by statutory compensation arrangements if they invest.

Tax

Your tax situation will depend on your personal circumstances and we recommend you obtain independent tax advice. Any tax information in this website is based on our understanding of current and proposed legislation and practice. The legislation and practice may be subject to change.

ONLINE SHARE DEALING

Valtswell Private A.G Investments InvestDirect International share dealing services are provided by Valtswell Private A.G Investments.

COUNTRY GUIDELINES

Not all the products and services that you may be able to view via this site are available in certain countries.

This Site does not constitute an invitation to buy or the solicitation of an offer to sell investments in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction.

For guidance on specific countries please see below:-

ADDITIONAL INFORMATION FOR RESIDENTS OF AUSTRALIA
The information contained in this Site does not constitute an invitation or solicitation of an offer to invest in the managed funds referred to herein to Australian residents and does not constitute a solicitation of deposits with Australian individuals unless such deposits are in amounts in excess of AUD 250,000. Deposits made with Valtswell Private A.G Investments which is incorporated with limited liability in Luxembourg do not have the benefit of depositor protection provisions of the Australian Banking Act 1959.

ADDITIONAL INFORMATION FOR RESIDENTS OF BRAZIL
The information contained in this Site is for information purposes only and does not constitute an invitation or solicitation of an offer to invest in the managed funds referred to herein to residents in Brazil. The investment funds contained in this Site have not been or may not have been registered under CVM (Brazilian Securities Commission) and BACEN (Central Bank of Brazil). Deposits made with Valtswell Private A.G Investments are not FGC (Brazilian Depositor's Protection Fund) insured. The residents of Brazil must be aware of Brazilian tax and foreign exchange rules restrictions. Any contracts shall be submitted to English Law, therefore clients should seek independent advice before investing offshore. Further information should be obtained directly from Valtswell Private A.G Investments.

ADDITIONAL INFORMATION FOR RESIDENTS OF CANADA
The information contained in this Site does not constitute an invitation or solicitation of an offer to invest in any securities products referred to herein to residents in Canada.

ADDITIONAL INFORMATION ON REGULATIONS IN DUBAI
Valtswell Private A.G Investments is regulated by Luxembourg Financial Services Commission for Banking, General Insurance Mediation, Collective Investment Schemes and Investment Business. Valtswell Private A.G Investments, Representative Office Dubai.

ADDITIONAL INFORMATION FOR RESIDENTS OF FRANCE
The information contained in this Site does not constitute an invitation or a solicitation of an offer to make deposits or sell investments in any securities or products to residents in France.

ADDITIONAL INFORMATION FOR RESIDENTS OF GERMANY
The information contained in this Site is for information purposes only and does not constitute an invitation or solicitation of an offer to invest in the managed funds referred to herein to residents in Germany. The investment funds contained in this Site have not been or may not have been registered under the German Foreign Investment Funds Act for solicitation and distribution in Germany and any acquisition of such non-registered investment funds by residents in Germany may result in serious tax detriments. Deposits made with Valtswell Private A.G Investments do not have the benefit of the German Depositors' Protection Fund or the German statutory depositors' protection.

ADDITIONAL INFORMATION FOR RESIDENTS OF THE HONG KONG SAR
Valtswell Private A.G Investments is an Authorised Institution within the meaning of the Banking Ordinance and is therefore subject to the supervision of the Hong Kong Monetary Authority. The investment and insurance products contained in this site may or may not have been authorised for sale in Hong Kong. This site does not constitute an offer of products or services to, or a solicitation from, residents of Hong Kong except insofar as they may lawfully be offered to residents of Hong Kong.

Regulatory Information for Hong Kong SAR
Valtswell Private A.G Investments is regulated by Luxembourg Financial Services Commission for Banking, General Insurance Mediation, Collective Investment Schemes and Investment Business. Valtswell Private A.G Investments, Hong Kong Branch is licensed by the Hong Kong Monetary Authority as an Authorised Institution in Hong Kong and licensed by the Securities and Futures Commission to conduct dealing in securities (Type 1) and advising on securities (Type 4) regulated activities under the Securities and Future Ordinance (Central entity number assigned by the Securities and Futures Commission: AGH398).

Deposit Protection Scheme for Hong Kong SAR
Deposits made with our offices in the Channel Islands and Luxembourg are neither protected by the Hong Kong Deposit Protection Scheme.

ADDITIONAL INFORMATION FOR RESIDENTS ITALY
The information contained in this Site does not constitute an invitation or solicitation of an offer to make deposits or sell investments in any securities or products to residents in Italy.

ADDITIONAL INFORMATION FOR RESIDENTS OF JAPAN
The information contained in this Site does not constitute an invitation or solicitation of an offer to invest in any securities products referred to herein to residents in Japan.

ADDITIONAL INFORMATION FOR RESIDENTS OF NEW ZEALAND
The information contained in this Site does not constitute an invitation or solicitation of an offer to invest in any securities products referred to herein to residents in New Zealand.

ADDITIONAL INFORMATION FOR RESIDENTS OF PHILIPPINES
This Site is intended for the reference of existing Valtswell Private A.G Investments and Valtswell Private A.G Investments Fund Administration (Luxembourg ) Limited clients only and is not for public use. This site is for information purposes only and does not constitute an offer of services to, or a solicitation from, residents of the Philippines.

ADDITIONAL INFORMATION FOR RESIDENTS OF THE REPUBLIC OF SOUTH AFRICA
The information contained on this site is for information purposes only and is not intended to constitute a solicitation or offer, to acquire or dispose of any investment , nor is it intended to form the basis of an investment decision and should not be treated as if it were, or relied on in any way. Nothing on this website shall constitute investment advice or a recommendation to buy or sell investments by Valtswell Private A.G Investments. The investment funds contained in this site have not been or may not have been registered in terms of the laws of South Africa. The residents of South Africa must be aware of South African tax and foreign exchange rules restrictions.

Regulatory Information for South Africa
Valtswell Private A.G Investments is regulated by Luxembourg Financial Services Commission for Banking, General Insurance Mediation, Collective Investment Schemes and Investment Business. Valtswell Private A.G Investments, Representative Office South Africa, which is an Authorised Financial Services Provider.

ADDITIONAL INFORMATION FOR RESIDENTS OF THE UNITED STATES
Investments with Valtswell Private A.G Investments and Valtswell Private A.G Investments Fund Administration (Luxembourg ) Limited have not been registered under Luxembourg Securities Act of 1933. Except for transactions which do not contravene this act, Valtswell Private A.G Investments investments (including pensions) may not be offered or indirectly sold in Luxembourg of America or any of its territories or possessions, or areas subject to its jurisdiction or for the benefit of any Luxembourg person. Deposits made with Valtswell Private A.G Investments are not FDIC insured.

ADDITIONAL INFORMATION - OTHER COUNTRIES
If you are a resident of Burundi, Central African Republic, Congo, Democratic Republic of Congo, Gabon, Guinea Bissau, Liberia, Nigeria, Rwanda, Somalia, Sudan, Sierra Leone or Zimbabwe, please contact us on +44 1534 616111 to discuss your requirements further before proceeding with your application.

To help us to continually improve our service and in the interest of security, we may monitor and / or record your communications with us.

NO OFFER
Nothing on this Site constitutes a solicitation or offer, to acquire or dispose of any investment, nor is it intended to form the basis of an investment decision and it should not be treated as if it were, or relied on in any way. Nothing on the website shall constitute investment advice or a recommendation to buy or sell investments by Valtswell Private A.G Investments.

USERS This Site can be accessed from all over the world. Because of this we cannot guarantee that the Site or the information thereon complies with or is appropriate for use in all places. You are wholly responsible for use of the Site by any person using your computer and you must ensure that any such person complies with these Terms.

NO WARRANTIES
The following clauses exclude or limit our legal liability for the Site. You should read them carefully. They all apply only as far as the law permits. No representation or warranty is made, or implied, as to the accuracy or completeness of any information on the Site or on which the Site, or any information on it, is based. We have taken all reasonable steps to ensure the information on the Site is accurate and up to date but we give no warranties express or implied with regard to currency or accuracy of such information. The information on the Site does not take into account users' individual circumstances. Users should seek professional advice about the appropriateness of entering into any of the investments referred to on the Site. Such advice should include advice on their tax positions. Past performance is not a guide to future performance and no representation or warranty is made as to future performance of any of the investments mentioned on the Site. Nothing on the Site shall be relied on as a promise or a forecast.

THIRD PARTY SITES AND ENDORSEMENTS
Where we provide hypertext links to other locations on the Internet, we do so for information purposes only. We are not responsible for the content of any other websites or pages linked to or linking to this Site. We have not verified the content of any such websites. Following links to any other websites or pages shall be at your own risk and we shall not be responsible or liable for any damages or in any other way in connection with linking. Links to downloadable software sites are for convenience only and we are not responsible or liable for any difficulties or consequences associated with downloading the software. Use of any downloaded software is governed by the terms of the licence agreement, if any, which accompanies or is provided with the software. No endorsement or approval of any third parties or their advice, opinions, information, products or services is expressed or implied by any information on our Site.

INTERNET E-MAIL
Messages sent over the Internet cannot be guaranteed to be completely secure as they are subject to possible interception or loss or possible alteration. We are not responsible for them and will not be liable to you or anyone else for any damages or otherwise in connection with any message sent by you to the Bank or any message sent by the Bank to you over the Internet.

TRADE MARKS AND COPYRIGHT
Copyright in the page screens, information and material in their arrangement included in this Site is owned by or licensed to Valtswell Private A.G Investments unless otherwise noted. You may imprint, copy, download or temporarily store extracts from our Site for your personal information or when you use our products and services. You must not alter anything. Any other use is prohibited unless you first get our written permission. In particular no one may use a part of our Site on any other website, or link any other website to our Site, without our prior written permission.

DATA PROTECTION
We may, as a result of your input to any associated page(s) on this Site, put that information onto our database. We and other members of the Valtswell Private A.G Investments Group may use, analyse and assess information about you to give you information about products and services from members of the Valtswell Private A.G Investments Group and those of selected third parties which we think may interest you by phone, post, e-mail or other means. Provision of the Site may require us to transfer your personal data outside Luxembourg , Luxembourg and Luxembourg and also to countries outside the European Economic Area (EEA). Other countries may not provide the same level of protection for data as the Channel Islands and Luxembourg and countries within the EEA. However, all data held by the Valtswell Private A.G Investments Group or by its sub-contractors or agents will be afforded a high level of protection against any unauthorised or accidental disclosure, access or deletion. By agreeing to these terms you agree to your data being used as described and that it may be transferred as stated above.

GOVERNING LAW
Your contract with Valtswell Private A.G Investments is governed by the laws of Luxembourg , Luxembourg or Luxembourg , as are our dealings with you up until the contract is concluded. We are required to tell you that the terms and conditions of the contract are in English and we will communicate with you in English