Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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RAB Capital plc (RAB)

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Thursday 16 September, 2010

RAB Capital plc

Trading Statement

RNS Number : 8536S
RAB Capital plc
16 September 2010

RAB Capital plc

("RAB" or "the Group")


Trading update


Following a detailed review of its anticipated revenue and costs for the current year, the Group has concluded that its financial results for the year to 31 December 2010 are likely to be significantly below current market expectations. The Group has initiated measures to reduce costs with a view to returning to profitability as soon as possible. This will cause a material exceptional charge for the year of approximately £5.5m.


RAB continues to enjoy a very strong capital position and a liquid balance sheet: at 30 June 2010 the Group's net current assets plus investments amounted to £93.6m. It is not expected that the impact of the results for the current year will materially alter the Group's financial strength as the total estimated impact on the Group's free cash loss after taxation for the year (including exceptional charges) is expected to amount to less than 6% of this figure.


A number of the Group's funds continue to perform very well and it is expected that that a leaner cost base and a more focussed marketing effort on the Group's successful strategies will improve the prospects for raising assets. RAB Energy and RAB European Credit Opportunities strategies continue to post very good investment results (+32.8% and +7.8% respectively for the eight months to 31 August). RAB Global Mining and Resources and RAB Octane have also outperformed their benchmarks. As merger and acquisition activity increases in the European market, it is expected that RAB Cross Europe will enjoy an improving opportunity environment from which to generate returns.


At 31 August 2010, RAB's assets under management amounted to $1.05bn. This number takes account of the repatriation of capital by a European bank from the Group's fund of funds and the reduction in the value of a substantial position within RAB Special Situations strategy, both of which were referred to in the Group's announcement of the half year results. These major movements aside, the Group has experienced modest inflows into its more successful strategies since the end of the first half.


Charles Kirwan-Taylor, Chief Executive Officer, commented, "We have decided it is necessary to address our cost-base but remain fully confident in our main investment strategies and that we will continue to deliver strong risk adjusted returns for our investors."


16 September 2010



Further Enquiries:


RAB Capital

Michael Alen-Buckley, Executive Chairman

Charles Kirwan-Taylor, Chief Executive

Tel: +44 (0)20 7389 7000


Tel: +44 (0)20 7920 2330

Charlotte Kirkham

Caroline Villiers

Fox-Pitt, Kelton Limited (Nominated Adviser and Broker)

Tel: +44 (0) 20 3037 5231

Jonny Franklin-Adams


This information is provided by RNS
The company news service from the London Stock Exchange

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