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Subject: =?utf-8?Q?Updates=20to=20the=20Seedrs=20Secondary=20Market?=
From: =?utf-8?Q?The=20Seedrs=20Team?= <support@seedrs.com>
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To: <vince@showfile.com>
Date: Thu, 27 Feb 2020 18:38:19 +0000
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View in browser (https://mailchi.mp/seedrs/updates-to-the-seedrs-secondary=
-market?e=3D5ef1148adf)
https://www.seedrs.com/?utm_source=3DSeedrs+newsletters&utm_campaign=3D07d=
c38f0d4-EMAIL_CAMPAIGN_2020_02_26_05_31&utm_medium=3Demail&utm_term=3D0_df=
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b90523ee-07dc38f0d4-43129765
Updates to the Seedrs Secondary Market

Dear Vince=2C

Since Seedrs launched in 2012=2C one of our founding principles has been t=
o serve our customers through the life of their investments=2C whether the=
y are investors or entrepreneurs. Our approach delivers much more than a t=
ransactional service=2C and we pride ourselves that.

Beyond our portfolio tools=2C nominee services and investor communities=2C=
 which provide industry leading post-investment support=2C in 2017 we also=
 pioneered the radical concept of a functioning secondary market for priva=
te company investments. Whilst it might not seem so radical more than two=
 years on=2C we are still the only platform in our sector to offer this se=
rvice. In the traditionally opaque world of private markets=2C it is the s=
tart of something that will be hugely valuable going forward=2C bringing m=
uch-needed transparency and liquidity to both investors and entrepreneurs.

As with any =E2=80=98first=E2=80=99 or new innovations=2C we launched the=
 Seedrs Secondary Market in Beta=2C which meant it was subject to a number=
 of limitations. The support and constant feedback from you=2C our custome=
rs=2C on this product has been (and continues to be) key to us=2C and we h=
ave responded with a number of improvements as we edge towards bringing th=
e market out of Beta.

Here=E2=80=99s what=E2=80=99s changing for the April market:
1. Share lot size constraint lifted: We are removing the =C2=A31=2C000 lim=
it on the size of the share lots you list. You will now be able to list lo=
ts up to =C2=A325=2C000/=E2=82=AC25=2C000.

2. New feature to automatically relist shares: Our regular users have fed=
 back that relisting unsold shares should be made much easier. From April=
=2C you can choose for every unsold share lot to be automatically relisted=
 on the next market=2C unless the business becomes ineligible or the busin=
ess share price changes.

3. Transaction fee: In order to support these and subsequent improvements=
=2C we will be introducing a small transaction fee of 1.5% each for the bu=
yer and seller. This fee include the costs we incur for stamp duty payment=
s and the administration that comes from lifting the =C2=A31=2C000 cap on=
 share lots and registering transfer of ownership.

However=2C we want to recognise the early-adopters and supporters of the S=
eedrs Secondary Market and thank them for helping us develop this product.=
 Therefore=2C everyone who has bought or listed a share lot in the last 12=
 months (from 25th February 2019) will have fees waived for 3 months on al=
l share lots less than =C2=A31k/=E2=82=AC1k.

The March market will open on Tuesday 3rd March and as usual=2C any eligib=
le share lots submitted after Monday 2nd March at 11am will appear in Apri=
l=E2=80=99s market. We realise that any new fee is likely to be met with d=
iscomfort=2C but we also hope that all our customers will understand the r=
easons and appreciate the growing value of the service.

Our release schedule will continue to accelerate as the year unfolds. In t=
he coming months=2C we also plan to follow-up on this change with:
* Partial share lot sales: The ability to buy a =E2=80=98part=E2=80=99 of=
 a share lot=2C which will reduce the need to have to break up a share lot=
 into smaller packets and allow a buyer to specify how much they would lik=
e to purchase - seller controlled of course. This will be coupled with a b=
uyer =E2=80=98lock-out=E2=80=99 feature that will stop multiple buyers att=
empting to buy the same share lot.

* Market 365: The ability to enter into agreements to buy with sellers at=
 any time=2C even outside the trading window when the market is closed=2C=
 with the final transaction taking place when the market opens. This will=
 be coupled with the ability for market users to set up notifications so u=
sers can be alerted when a business they are following has had a share lot=
 listed. Note that the market will continue to operate by way of a bulleti=
n board with execution always being subject to an agreement between the bu=
yer and seller.

Please always make sure you refer to the Secondary Market Terms & Conditio=
ns (https://www.seedrs.com/pages/secondary-market-terms?utm_source=3DSeedr=
s+newsletters&utm_campaign=3D07dc38f0d4-EMAIL_CAMPAIGN_2020_02_26_05_31&ut=
m_medium=3Demail&utm_term=3D0_dfb90523ee-07dc38f0d4-43129765) =2C w=
hich will be updated to reflect these changes=2C as they take place.

We are committed to continue improving the features and liquidity offered=
 by the Seedrs Secondary Market for the private company investment ecosyst=
em=2C with much more to come in 2020. Thank you=2C pioneers and trailblaze=
rs=2C for your ongoing support.

If you have any questions please don=E2=80=99t hesitate to get in contact=
 with us at
support@seedrs.com (mailto:support@seedrs.com) or if you=E2=80=99d like to=
 be involved in early feature product discussions join our invite only Fac=
ebook group here (https://www.facebook.com/groups/224908355089709/?utm_sou=
rce=3DSeedrs+newsletters&utm_campaign=3D07dc38f0d4-EMAIL_CAMPAIGN_2020_02_=
26_05_31&utm_medium=3Demail&utm_term=3D0_dfb90523ee-07dc38f0d4-43129765) .

Regards

Joel Ippoliti
Chief Product Officer

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This email has been approved as a financial promotion by Seedrs Limited.

Seedrs Limited is authorised and regulated by the Financial Conduct Author=
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 sale is unlawful. Seedrs does not provide legal=2C financial or tax advic=
e of any kind=2C and nothing in this email constitutes such advice. If you=
 have any questions with respect to legal=2C financial or tax matters rele=
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line-height: 150%;text-align: left;">

                            <div style=3D"text-align: center;"><br>
<span style=3D"font-size:28px"><span style=3D"color:#222f39">Updates to th=
e Seedrs Secondary Market</span></span></div>

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=09=09=09=09<table align=3D"left" border=3D"0" cellspacing=3D"0" cellpaddi=
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=09=09=09=09<![endif]-->
=09=09=09
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=09=09=09=09<![endif]-->
                <table align=3D"left" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" style=3D"max-width: 100%;min-width: 100%;border-collapse: col=
lapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 10=
0%;-webkit-text-size-adjust: 100%;" width=3D"100%" class=3D"mcnTextContent=
Container">
                    <tbody><tr>

                        <td valign=3D"top" class=3D"mcnTextContent" style=
=3D"padding: 0px 18px 9px;line-height: 150%;mso-line-height-rule: exactly;=
-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;word-break: brea=
k-word;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetica=
=2C Arial=2C sans-serif;font-size: 16px;text-align: left;">

                            <p style=3D"line-height: 150%;margin: 10px 0;p=
adding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit=
-text-size-adjust: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica N=
eue'=2C Helvetica=2C Arial=2C sans-serif;font-size: 16px;text-align: left;=
"><span style=3D"font-size:14px"><span style=3D"font-family:lato=2Chelveti=
ca neue=2Chelvetica=2Carial=2Csans-serif"><span style=3D"color:#7a8288">De=
ar Vince=2C</span></span></span><br>
&nbsp;</p>

<p dir=3D"ltr" style=3D"line-height: 150%;margin: 10px 0;padding: 0;mso-li=
ne-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetic=
a=2C Arial=2C sans-serif;font-size: 16px;text-align: left;"><span style=3D=
"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans-serif"><span=
 style=3D"color:#7a8288"><span style=3D"font-size:14px">Since Seedrs launc=
hed in 2012=2C one of our founding principles has been to serve our custom=
ers through the life of their investments=2C whether they are investors or=
 entrepreneurs. Our approach delivers much more than a transactional servi=
ce=2C and we pride ourselves that.</span></span></span></p>

<p dir=3D"ltr" style=3D"line-height: 150%;margin: 10px 0;padding: 0;mso-li=
ne-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetic=
a=2C Arial=2C sans-serif;font-size: 16px;text-align: left;"><span style=3D=
"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans-serif"><span=
 style=3D"color:#7a8288"><span style=3D"font-size:14px">Beyond our portfol=
io tools=2C nominee services and investor communities=2C which provide ind=
ustry leading post-investment support=2C in 2017 we also pioneered the rad=
ical concept of a functioning secondary market for private company investm=
ents. Whilst it might not seem so radical more than two years on=2C we are=
 still the only platform in our sector to offer this service. In the tradi=
tionally opaque world of private markets=2C it is the start of something t=
hat will be hugely valuable going forward=2C bringing much-needed transpar=
ency and liquidity to both investors and entrepreneurs.&nbsp;&nbsp;</span>=
</span></span></p>

<p dir=3D"ltr" style=3D"line-height: 150%;margin: 10px 0;padding: 0;mso-li=
ne-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetic=
a=2C Arial=2C sans-serif;font-size: 16px;text-align: left;"><span style=3D=
"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans-serif"><span=
 style=3D"color:#7a8288"><span style=3D"font-size:14px">As with any =E2=80=
=98first=E2=80=99 or new innovations=2C we launched the Seedrs Secondary M=
arket in Beta=2C which meant it was subject to a number of limitations. Th=
e support and constant feedback from you=2C our customers=2C on this produ=
ct has been (and continues to be) key to us=2C and we have responded with=
 a number of improvements as we edge towards bringing the market out of Be=
ta.&nbsp;</span></span></span></p>

<p dir=3D"ltr" style=3D"line-height: 150%;margin: 10px 0;padding: 0;mso-li=
ne-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetic=
a=2C Arial=2C sans-serif;font-size: 16px;text-align: left;"><span style=3D=
"color:#222f39"><strong><span style=3D"font-family:lato=2Chelvetica neue=
=2Chelvetica=2Carial=2Csans-serif"><span style=3D"font-size:14px">Here=E2=
=80=99s what=E2=80=99s changing for the April market:</span></span></stron=
g></span></p>

<ol>
=09<li dir=3D"ltr" style=3D"mso-line-height-rule: exactly;-ms-text-size-ad=
just: 100%;-webkit-text-size-adjust: 100%;">
=09<p dir=3D"ltr" role=3D"presentation" style=3D"line-height: 150%;margin:=
 10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100=
%;-webkit-text-size-adjust: 100%;color: #444444;font-family: 'Lato'=2C 'He=
lvetica Neue'=2C Helvetica=2C Arial=2C sans-serif;font-size: 16px;text-ali=
gn: left;"><span style=3D"font-family:lato=2Chelvetica neue=2Chelvetica=2C=
arial=2Csans-serif"><span style=3D"color:#222f39"><span style=3D"font-size=
:14px"><strong>Share lot size constraint lifted</strong>: </span></span><s=
pan style=3D"color:#7a8288"><span style=3D"font-size:14px">We are removing=
 the =C2=A31=2C000 limit on the size of the share lots you list. You will=
 now be able to list lots up to =C2=A325=2C000/=E2=82=AC25=2C000.</span></=
span></span></p>
=09</li>
</ol>

<ol start=3D"2">
=09<li dir=3D"ltr" style=3D"mso-line-height-rule: exactly;-ms-text-size-ad=
just: 100%;-webkit-text-size-adjust: 100%;">
=09<p dir=3D"ltr" role=3D"presentation" style=3D"line-height: 150%;margin:=
 10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100=
%;-webkit-text-size-adjust: 100%;color: #444444;font-family: 'Lato'=2C 'He=
lvetica Neue'=2C Helvetica=2C Arial=2C sans-serif;font-size: 16px;text-ali=
gn: left;"><span style=3D"font-family:lato=2Chelvetica neue=2Chelvetica=2C=
arial=2Csans-serif"><span style=3D"color:#222f39"><span style=3D"font-size=
:14px"><strong>New feature to automatically relist shares: </strong></span=
></span><span style=3D"color:#7a8288"><span style=3D"font-size:14px">Our r=
egular users have fed back that relisting unsold shares should be made muc=
h easier. From April=2C you can choose for every unsold share lot to be au=
tomatically relisted on the next market=2C unless the business becomes ine=
ligible or the business share price changes.</span></span></span></p>
=09</li>
</ol>

<ol start=3D"3">
=09<li dir=3D"ltr" style=3D"mso-line-height-rule: exactly;-ms-text-size-ad=
just: 100%;-webkit-text-size-adjust: 100%;">
=09<p dir=3D"ltr" role=3D"presentation" style=3D"line-height: 150%;margin:=
 10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100=
%;-webkit-text-size-adjust: 100%;color: #444444;font-family: 'Lato'=2C 'He=
lvetica Neue'=2C Helvetica=2C Arial=2C sans-serif;font-size: 16px;text-ali=
gn: left;"><span style=3D"font-family:lato=2Chelvetica neue=2Chelvetica=2C=
arial=2Csans-serif"><span style=3D"color:#222f39"><span style=3D"font-size=
:14px"><strong>Transaction fee: </strong></span></span><span style=3D"colo=
r:#7a8288"><span style=3D"font-size:14px">In order to support these and su=
bsequent improvements=2C we will be introducing a small transaction fee of=
 1.5% each for the buyer and seller. This fee include the costs we incur f=
or stamp duty payments and the administration that comes from lifting the=
 =C2=A31=2C000 cap on share lots and registering transfer of ownership.</s=
pan></span></span></p>
=09</li>
</ol>

<p dir=3D"ltr" style=3D"line-height: 150%;margin: 10px 0;padding: 0;mso-li=
ne-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetic=
a=2C Arial=2C sans-serif;font-size: 16px;text-align: left;"><span style=3D=
"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans-serif"><span=
 style=3D"color:#7a8288"><span style=3D"font-size:14px">However=2C we want=
 to recognise the early-adopters and supporters of the Seedrs Secondary Ma=
rket and thank them for helping us develop this product. Therefore=2C ever=
yone who has bought or listed a share lot in the last 12 months (from 25th=
 February 2019) will have fees waived for 3 months on all share lots less=
 than =C2=A31k/=E2=82=AC1k.&nbsp;</span></span></span></p>

<p dir=3D"ltr" style=3D"line-height: 150%;margin: 10px 0;padding: 0;mso-li=
ne-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetic=
a=2C Arial=2C sans-serif;font-size: 16px;text-align: left;"><span style=3D=
"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans-serif"><span=
 style=3D"color:#7a8288"><span style=3D"font-size:14px">The March market w=
ill open on Tuesday 3rd March and as usual=2C any eligible share lots subm=
itted after Monday 2nd March at 11am will appear in April=E2=80=99s market=
=2E We realise that any new fee is likely to be met with discomfort=2C but w=
e also hope that all our customers will understand the reasons and appreci=
ate the growing value of the service.</span></span></span></p>

<p dir=3D"ltr" style=3D"line-height: 150%;margin: 10px 0;padding: 0;mso-li=
ne-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetic=
a=2C Arial=2C sans-serif;font-size: 16px;text-align: left;"><span style=3D=
"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans-serif"><span=
 style=3D"color:#7a8288"><span style=3D"font-size:14px">Our release schedu=
le will continue to accelerate as the year unfolds. In the coming months=
=2C we also plan to follow-up on this change with:</span></span></span></p=
>

<ul>
=09<li dir=3D"ltr" style=3D"mso-line-height-rule: exactly;-ms-text-size-ad=
just: 100%;-webkit-text-size-adjust: 100%;">
=09<p dir=3D"ltr" role=3D"presentation" style=3D"line-height: 150%;margin:=
 10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100=
%;-webkit-text-size-adjust: 100%;color: #444444;font-family: 'Lato'=2C 'He=
lvetica Neue'=2C Helvetica=2C Arial=2C sans-serif;font-size: 16px;text-ali=
gn: left;"><span style=3D"font-family:lato=2Chelvetica neue=2Chelvetica=2C=
arial=2Csans-serif"><span style=3D"color:#222f39"><span style=3D"font-size=
:14px"><strong>Partial share lot sales</strong>: </span></span><span style=
=3D"color:#7a8288"><span style=3D"font-size:14px">The ability to buy a =E2=
=80=98part=E2=80=99 of a share lot=2C which will reduce the need to have t=
o break up a share lot into smaller packets and allow a buyer to specify h=
ow much they would like to purchase - seller controlled of course. This wi=
ll be coupled with a buyer =E2=80=98lock-out=E2=80=99 feature that will st=
op multiple buyers attempting to buy the same share lot.</span></span></sp=
an></p>
=09</li>
</ul>

<ul>
=09<li dir=3D"ltr" style=3D"mso-line-height-rule: exactly;-ms-text-size-ad=
just: 100%;-webkit-text-size-adjust: 100%;">
=09<p dir=3D"ltr" role=3D"presentation" style=3D"line-height: 150%;margin:=
 10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: 100=
%;-webkit-text-size-adjust: 100%;color: #444444;font-family: 'Lato'=2C 'He=
lvetica Neue'=2C Helvetica=2C Arial=2C sans-serif;font-size: 16px;text-ali=
gn: left;"><span style=3D"font-family:lato=2Chelvetica neue=2Chelvetica=2C=
arial=2Csans-serif"><span style=3D"color:#222f39"><span style=3D"font-size=
:14px"><strong>Market 365</strong>: </span></span><span style=3D"color:#7a=
8288"><span style=3D"font-size:14px">The ability to enter into agreements=
 to buy with sellers at any time=2C even outside the trading window when t=
he market is closed=2C with the final transaction taking place when the ma=
rket opens. This will be coupled with the ability for market users to set=
 up notifications so users can be alerted when a business they are followi=
ng has had a share lot listed. Note that the market will continue to opera=
te by way of a bulletin board with execution always being subject to an ag=
reement between the buyer and seller.</span></span></span></p>
=09</li>
</ul>

<p dir=3D"ltr" style=3D"line-height: 150%;margin: 10px 0;padding: 0;mso-li=
ne-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetic=
a=2C Arial=2C sans-serif;font-size: 16px;text-align: left;"><span style=3D=
"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans-serif"><span=
 style=3D"font-size:14px"><span style=3D"color:#7a8288">Please always make=
 sure you refer to the </span><a href=3D"https://seedrs.us4.list-manage.co=
m/track/click?u=3Db211206c49ae6c040bfb8ae74&id=3Dc280b92ba7&e=3D5ef1148adf" target=3D"_blank" style=3D"mso-line-height-rule: exactly;-ms-text-size-=
adjust: 100%;-webkit-text-size-adjust: 100%;color: #007c89;font-weight: no=
rmal;text-decoration: underline;"><span style=3D"color:#007c89">Secondary=
 Market Terms &amp; Conditions</span></a><span style=3D"color:#7a8288">=2C=
 which will be updated to reflect these changes=2C as they take place.</sp=
an></span></span></p>

<p dir=3D"ltr" style=3D"line-height: 150%;margin: 10px 0;padding: 0;mso-li=
ne-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjus=
t: 100%;color: #444444;font-family: 'Lato'=2C 'Helvetica Neue'=2C Helvetic=
a=2C Arial=2C sans-serif;font-size: 16px;text-align: left;"><span style=3D=
"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans-serif"><span=
 style=3D"font-size:14px"><span style=3D"color:#7a8288">We are committed t=
o continue improving the features and liquidity offered by the Seedrs Seco=
ndary Market for the private company investment ecosystem=2C with much mor=
e to come in 2020. Thank you=2C pioneers and trailblazers=2C for your ongo=
ing support.&nbsp;<br>
<br>
If you have any questions please don=E2=80=99t hesitate to get in contact=
 with us at </span><a href=3D"mailto:support@seedrs.com" style=3D"mso-line=
-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust:=
 100%;color: #007c89;font-weight: normal;text-decoration: underline;"><spa=
n style=3D"color:#007c89">support@seedrs.com</span></a><span style=3D"colo=
r:#7a8288"> or if you=E2=80=99d like to be involved in early feature produ=
ct discussions join our invite only Facebook group </span><a href=3D"https=
://seedrs.us4.list-manage.com/track/click?u=3Db211206c49ae6c040bfb8ae74&id=
=3D9e7674df79&e=3D5ef1148adf" target=3D"_blank" style=3D"mso-line-height-=
rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;co=
lor: #007c89;font-weight: normal;text-decoration: underline;"><span style=
=3D"color:#007c89">here</span></a><span style=3D"color:#7a8288">.<br>
<br>
Regards<br>
<br>
Joel Ippoliti<br>
Chief Product Officer</span></span></span></p>

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und-image: none;background-repeat: no-repeat;background-position: center;b=
ackground-size: cover;border-top: 0;border-bottom: 0;padding-top: 0px;padd=
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th: 600px !important;">
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r;mso-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-si=
ze-adjust: 100%;background-color: #transparent;background-image: none;back=
ground-repeat: no-repeat;background-position: center;background-size: cove=
r;border-top: 0;border-bottom: 0;padding-top: 0px;padding-bottom: 0;"><tab=
le border=3D"0" cellpadding=3D"0" cellspacing=3D"0" width=3D"100%" class=
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pacing=3D"0" style=3D"max-width: 100%;min-width: 100%;border-collapse: col=
lapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 10=
0%;-webkit-text-size-adjust: 100%;" width=3D"100%" class=3D"mcnTextContent=
Container">
                    <tbody><tr>

                        <td valign=3D"top" class=3D"mcnTextContent" style=
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size-adjust: 100%;word-break: break-word;color: #FFFFFF;font-family: Helve=
tica;font-size: 12px;line-height: 150%;text-align: center;">

                            <div style=3D"text-align: center;"><br>
<a href=3D"http://" style=3D"mso-line-height-rule: exactly;-ms-text-size-a=
djust: 100%;-webkit-text-size-adjust: 100%;color: #1b82e6;font-weight: nor=
mal;text-decoration: none;"><img data-file-id=3D"34965" height=3D"27" src=
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t: 27px;margin: 0px;outline: none;text-decoration: none;-ms-interpolation-=
mode: bicubic;" width=3D"100"></a></div>

<p style=3D"font-family: Arial=2C &quot;Arial Black&quot;=2C Tahoma=2C &qu=
ot;Trebuchet MS&quot;=2C Verdana=2C sans-serif;font-size: 12px;color: #AAA=
AAA;text-decoration: none;text-align: center;margin: 10px 0;padding: 0;mso=
-line-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-ad=
just: 100%;line-height: 150%;"><a href=3D"https://seedrs.us4.list-manage.c=
om/track/click?u=3Db211206c49ae6c040bfb8ae74&id=3D46eb55965f&e=3D5ef1148adf" style=3D"text-decoration: none;text-underline: none;mso-line-height-ru=
le: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;colo=
r: #1b82e6;font-weight: normal;" target=3D"_blank"><img alt=3D"Trustpilot=
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tion: none;-ms-interpolation-mode: bicubic;"><br>
<img alt=3D"Trustpilot Stars" border=3D"0" src=3D"https://emailsignature.t=
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one;text-underline: none;mso-line-height-rule: exactly;-ms-text-size-adjus=
t: 100%;-webkit-text-size-adjust: 100%;color: #1b82e6;font-weight: normal;=
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coration: none;-ms-interpolation-mode: bicubic;" width=3D"79"></a></p>

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=09=09=09=09<!--[if mso]>
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llapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 1=
00%;-webkit-text-size-adjust: 100%;">
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tent" style=3D"padding: 18px;color: #7A8288;font-family: Helvetica;font-si=
ze: 14px;font-weight: normal;line-height: 150%;text-align: center;mso-line=
-height-rule: exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust:=
 100%;word-break: break-word;">
                                        <div style=3D"text-align: left;"><=
span style=3D"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans=
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ting involves risks=2C including loss of capital=2C illiquidity=2C lack of=
 dividends and dilution=2C and should be done only as part of a diversifie=
d portfolio. Please read the </span><a href=3D"https://seedrs.us4.list-man=
age.com/track/click?u=3Db211206c49ae6c040bfb8ae74&id=3Ddd7e4544f9&e=3D5ef1148adf" target=3D"_blank" style=3D"mso-line-height-rule: exactly;-ms-text=
-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #1b82e6;font-weig=
ht: normal;text-decoration: none;"><span style=3D"color:#1b82e6">Risk Warn=
ings</span></a><span style=3D"color:#7a8288"> before investing. Investment=
s should only be made by investors who understand these risks. Tax treatme=
nt depends on individual circumstances and is subject to change in future.=
 Seedrs does not make investment recommendations to you and any investment=
 decision should be made on the basis of the full campaign. No communicati=
ons from Seedrs=2C through email or any other medium=2C should be construe=
d as an investment recommendation.&nbsp;</span></span></span></div>

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pacing=3D"0" style=3D"max-width: 100%;min-width: 100%;border-collapse: col=
lapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 10=
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                                        <div style=3D"text-align: left;"><=
span style=3D"font-family:lato=2Chelvetica neue=2Chelvetica=2Carial=2Csans=
-serif"><span style=3D"font-size:14px"><span style=3D"color:#7a8288">Inves=
ting involves risks=2C including loss of capital=2C illiquidity=2C lack of=
 dividends and dilution=2C and should be done only as part of a diversifie=
d portfolio. Please read the </span><a href=3D"https://seedrs.us4.list-man=
age.com/track/click?u=3Db211206c49ae6c040bfb8ae74&id=3D2d3ef25c05&e=3D5ef1148adf" target=3D"_blank" style=3D"mso-line-height-rule: exactly;-ms-text=
-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #1b82e6;font-weig=
ht: normal;text-decoration: none;"><span style=3D"color:#7a8288">Risk Warn=
ings</span></a><span style=3D"color:#7a8288"> before investing. Investment=
s should only be made by investors who understand these risks. Tax treatme=
nt depends on individual circumstances and is subject to change in future.=
 Seedrs does not make investment recommendations to you and any investment=
 decision should be made on the basis of the full campaign. No communicati=
ons from Seedrs=2C through email or any other medium=2C should be construe=
d as an investment recommendation.&nbsp;</span></span></span></div>

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