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TThis commentary is for information only and the comments and forecasts are intended to be of a general nature and are current as at the date of issue. Redtower Research and Redtower Asset Management Limited take no responsibility for any individual investment decisions based thereon. Important notice: Redtower Research provides this data on the understanding that the data is sourced from the public domain, and that while Redtower Research will endeavour to ensure that the accuracy of the data in our reports, no responsibility is taken for any errors in the data and no responsibility or liability of any sort is taken for any losses that you or your company may incur, either directly or indirectly, through the use of this information. Redtower Research will take reasonable means to ensure that the data reports arrive in a timely fashion but makes no guarantee for any transmission errors or disruption of facsimile, electronic mail or other distribution means. Redistribution of our reports without the express written consent of Redtower Asset Management Limited or Redtower Research is strictly prohibited and we will prosecute offenders to the full extent of the law. This includes photocopying, faxing electronic distribution and any other unauthorised distribution. REDTOWER RESEARCH IS A DIVISION OF REDTOWER ASSET MANAGEMENT LIMITED REGISTERED IN SCOTLAND, REGISTERED OFFICE: CRYSTAL VALLEY, FETTERCAIRN, KINCARDINESHIRE, SCOTLAND AB30 1DU, REGISTERED NUMBER IS SC204384. VAT REGISTRATION NO. 751 6880 11