Terms of Use

By accessing this website, the pages contained on it, and the products, services, information, tools and material contained or described herein (the “Site”), you acknowledge your agreement with and understanding of the following terms of use.

Ownership of Site, Trademarks and Copyrights

Aquila Capital Group, ACG, ACG Finance and other trademarks on this Site are trademarks and service marks or registered trademarks or service marks of Aquila Capital Group and/or its direct or indirect subsidiaries (hereinafter referred to as “ACG” or “we”). All material available on this Site, except where otherwise noted, is under copyright to ACG. ACG reserves all rights with respect to copyright and trademark ownership of all material on this Site, and will enforce such rights to the full extent of applicable law.

Nothing on this Site shall be construed as granting any license or right to use any image, trademark, service mark or logo. Downloading, copying or printing individual pages and/or parts of this Site is allowed for personal use only, and will not transfer title to any software or material on this Site to you. Explicit attribution to ACG must be made in the event that any material on this Site, or any part thereof, is reproduced in any form, written or electronic. Furthermore, any reproduction, re-publication or distribution of any material on this Site requires the express consent of ACG.

Disclaimers and Cautionary Statement Regarding Forward-Looking Information

All opinions and estimates expressed in this Site constitute our judgment as of publication and do not constitute general or specific investment, legal, tax or accounting advice of any kind. This Site contains statements that constitute forward-looking statements. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to our plans, objectives or goals; our future economic performance or prospects; the potential effect on our future performance of certain contingencies; and assumptions underlying any such statements.

Words such as “believe”, “anticipate”, “expect”, “intend” and “plan” and similar expressions are intended to identify our forward-looking statements but are not the exclusive means of identifying such statements. We do not intend to update these forward-looking statements except as may be required by applicable laws.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include (i) market and interest rate fluctuations; (ii) the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations in particular; (iii) the ability of counterparties to meet their obligations to us; (iv) the effects of, and changes in, fiscal, monetary, trade and tax policies, and currency fluctuations; (v) political and social developments, including war, civil unrest or terrorist activity; (vi) the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations; (vii) the ability to maintain sufficient liquidity and access capital markets; (viii) operational factors such as systems failure, human error, or the failure to properly implement procedures; (ix) actions taken by regulators with respect to our business and practices in one or more of the countries in which we conduct our operations; (x) the effects of changes in laws, regulations or accounting policies or practices; (xi) competition in geographic and business areas in which we conduct our operations; (xii) the ability to retain and recruit qualified personnel; (xiii) the ability to maintain our reputation and promote our brands; (xiv) the ability to increase market share and control expenses; (xv) technological changes; (xvi) the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users; (xvii) acquisitions, including the ability to integrate successfully acquired businesses; (xviii) the adverse resolution of litigation and other contingencies; and (xix) our success at managing the risks involved in the foregoing.

We caution you that the foregoing list of important factors is not exclusive; when evaluating our forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events.

Information and opinions presented in this Site have been obtained or derived from sources believed to be reliable, but ACG makes no representation as to their accuracy or completeness. ACG maintains the right to delete or modify information on this Site without prior notice.

ACG may, to the extent permitted by applicable law and/or regulation, participate or invest in financing transactions with the issuers of securities referred to in this Site, perform services for or solicit business from such issuers, and/or have a position or holding, or other material interest or effect transactions in such securities or options thereon or investments related thereto. ACG may, to the extent permitted by applicable law and/or regulation, act upon or use the information or opinions it presents on this Site, or the research or analysis on which such information or opinions are based, before the material is published. ACG may currently be providing, or have provided within the previous 12 months, significant advice or investment services to any or all of the issuers referred to on this Site in relation to the investment concerned or a related investment.

ACG may have issued other reports that are inconsistent with, and reach different conclusions from, the information presented in this Site. Those reports reflect the different assumptions, views and analytical methods of the analysts who prepared them and ACG is under no obligation to ensure that such reports are brought to your attention.

Risk Considerations

Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. Investing entails risks, including possible loss of principal. The price of, value of and income from securities or financial instruments can fall as well as rise. Certain investments are subject to high volatility, and may experience sudden and large falls in their value. Losses may equal or exceed your original investment. Foreign currency-denominated securities and financial instruments are subject to fluctuations in exchange rates that may have a positive or adverse effect on the value, price or income of such securities or financial instruments. Some investments may not be readily realisable and it may be difficult to sell or realise those investments. Similarly it may prove difficult for you to obtain reliable information about the value, or risks, to which such an investment is exposed. There are also special risk considerations associated with international and global investing (especially emerging markets), small-company investing, single-industry funds or investment strategies, single-country or regional funds or investment strategies, or other special, aggressive or concentrated investment strategies, such as the use of leverage or derivatives. Investors in securities effectively assume these risks.

No Warranty; No Liability

THE INFORMATION ON THIS SITE IS PROVIDED ON AN “AS IS,” “AS AVAILABLE” BASIS. ACG MAKES NO WARRANTY THAT ACCESS TO THIS SITE WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT VIRUSES OR OTHER HARMFUL COMPONENTS WILL NOT BE TRANSMITTED IN CONNECTION WITH YOUR USE OF THIS SITE. ACG HEREBY EXPRESSLY DISCLAIMS, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND/OR REGULATION, ALL WARRANTIES, EXPRESS, STATUTORY OR IMPLIED, REGARDING THIS SITE AND ANY RESULTS TO BE OBTAINED FROM THE USE OF THIS SITE AND ITS CONTENTS, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, FITNESS FOR A PARTICULAR PURPOSE OR USE AND ALL WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING AND/OR USAGE OF TRADE OR THEIR EQUIVALENTS UNDER THE APPLICABLE LAWS AND/OR REGULATIONS OF ANY JURISDICTION. ACG DOES NOT WARRANT OR GUARANTEE THE ACCURACY, TIMELINESS, SUITABILITY, COMPLETENESS OR AVAILABILITY OF THIS SITE OR THE INFORMATION OR RESULTS OBTAINED FROM USE OF IT.

UNDER NO CIRCUMSTANCES AND UNDER NO THEORY OF ANY APPLICABLE LAW AND/OR REGULATION SHALL ACG BE LIABLE TO ANYONE FOR ANY DAMAGES ARISING IN TORT, CONTRACT, STRICT LIABILITY OR OTHERWISE FROM ACCESS TO OR USE OF OR INABILITY TO ACCESS OR USE THIS SITE, OR FROM ANY ACTION TAKEN OR NOT TAKEN AS A RESULT, REGARDLESS OF WHETHER THEY ARE DIRECT, INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OF ANY CHARACTER, INCLUDING DAMAGES FOR TRADING LOSSES OR LOST PROFITS, OR FOR ANY CLAIM OR DEMAND BY ANY THIRD PARTY, EVEN IF ACG KNEW OR HAD REASON TO KNOW OF THE POSSIBILITY OF SUCH DAMAGES, CLAIM OR DEMAND.

Links to Other Websites / Content of Other Providers

Activating certain links on this Site may cause you to leave this Site. Such links, addresses or hyperlinks are provided solely for your convenience and information. ACG has not reviewed any of the websites linked with or connected to this Site, or which provide links to this Site, and does not accept any liability for their contents, the offered products or services or any other offers. Using links from this Site to any website not owned by ACG is at your own risk.