Terms of use

Terms and Conditions of Use

THESE TERMS AND CONDITIONS APPLY TO YOUR USE OF THE INTERNET WEB SITE LOCATED AT www.act.is (THE "WEB SITE"). THIS IS A LEGAL AGREEMENT. IT GRANTS YOU CERTAIN RIGHTS AND IMPOSES CERTAIN OBLIGATIONS ON YOU IN CONNECTION WITH YOUR USE OF THE WEB SITE. YOU SHOULD READ THIS DOCUMENT CAREFULLY.

BY ACCESSING THE WEB SITE (OR ANY PART OF IT) YOU AGREE THAT YOU HAVE READ AND ACCEPT THESE TERMS AND CONDITIONS INCLUDING, WITHOUT LIMITATION, THE EXCLUSIONS AND LIMITATIONS OF LIABILITY SET OUT IN CLAUSE 3.V.a. IF YOU DO NOT AGREE, DO NOT USE THE WEB SITE.

The information on this Web Site is communicated by Actis LLP and Actis GP LLP (collectively "Actis") and is only to be accessed and viewed by limited categories of persons in the United Kingdom and in other jurisdictions who satisfy certain criteria.

Actis LLP and Actis GP LLP are authorised and regulated in the United Kingdom by the Financial Conduct Authority ("FCA"). Actis LLP and Actis GP LLP are entered on the Financial Services Register (reference number 230585 and 586759 respectively), which can be found at www.fca.org.uk/register/).

Actis LLP is a limited liability partnership registered in England and Wales (registered no. OC305927). A list of the members of Actis LLP is open to inspection at its registered office, 2 More London Riverside, London SE1 2JT, United Kingdom. Actis LLP's email address is info@act.is and its VAT number is 832676413.

Certain information relates to the period before July 2004, when Actis LLP (initially called Actis Capital LLP) spun out of CDC Group Plc, an organisation established by the UK Government in 1948 to invest in developing economics in Africa, Asia and the Caribbean. Actis's management acquired majority ownership and control over Actis's investment strategy and operations in connection with the privatisation. CDC began focusing on private equity investments in 1998.

Actis GP LLP is a limited liability partnership registered in England and Wales (registered no. OC370074). A list of the members of Actis GP LLP is open to inspection at its registered office, 2 More London Riverside, London SE1 2JT, United Kingdom. Actis GP LLP's email address is info@act.is and its VAT number is 832676413.

Important information

Actis acts for the funds it manages or advises and not for anyone else. It will not act for, advise or be responsible for providing protections afforded to anyone other than such funds. Others working with Actis should be aware of this and should not expect that they will be treated as clients of Actis or any of its subsidiary and related companies.

Persons in the United Kingdom

This Web Site includes information on collective investment schemes which are not authorised, or otherwise recognised by the FCA and, as unregulated collective investment schemes, cannot be marketed in the United Kingdom to the general public.

Accordingly, the information on this Web Site, which is for general information purposes only, is directed only at persons who are Professional Clients (as defined in the FCA's rules - see below) and others to whom it may otherwise lawfully be communicated.

Any investment or investment activity to which this Web Site relates is only available to or will be engaged in only with such persons. Expressions of interest resulting from the information on this Web Site will only be responded to if received from persons falling within such category. Persons of any other description should not rely on or act upon the information on this Web Site.

Persons in other jurisdictions

The communication of the information on the Web Site may be restricted in certain jurisdictions and no person in any such jurisdiction may treat this Web Site as constituting an offer, invitation or inducement to them to enter into any investment agreement or purchase any investment referred to in such information and materials, unless in the relevant jurisdiction such an offer, invitation or inducement could lawfully be made to them. Accordingly, this Web Site does not constitute an offer, invitation or inducement by anyone in any jurisdiction in which such offer, invitation or inducement is not lawful or in which the person making such offer, invitation or inducement is not qualified to do so or to anyone to whom it is unlawful to make such offer, invitation or inducement. It is the responsibility of any persons who wish to express an interest in any of the information or materials on the Web Site to inform themselves of, and to observe, all applicable laws and regulations.

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Those falling within the definition of a Professional Client include:

  1. an entity required to be authorised or regulated to operate in the financial markets (whether authorised by an EEA State or a third country and whether or not authorised by reference to an EU Directive) which is:
    1. a credit institution, i.e. an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account;
    2. an investment firm, i.e. any person whose regular occupation or business is the provision of one or more investment services (within the meaning of Article 4(1)(2) of the MiFID Directive) to third parties on a professional basis;
    3. any other authorised or regulated financial institution;
    4. an insurance company;
    5. a collective investment scheme or the management company of such a scheme;
    6. a pension fund or the management company of a pension fund;
    7. a commodity or commodity derivatives dealer;
    8. any other institutional investor;
  1. in relation to MiFID or equivalent third country business, a large undertaking meeting two of the following size requirements on a company basis:
    1. balance sheet total of EUR 20,000,000;
    2. net turnover of EUR 40,000,000;
    3. own funds of EUR 2,000,000;
  1. in relation to business that is not MiFID or equivalent third country business, a large undertaking meeting any of the following conditions:
    1. a body corporate (including a limited liability partnership) which has (or any of whose holding companies or subsidiaries has) (or has had at any time during the previous two years) called up share capital or net assets of at least £5 million (or its equivalent in any other currency at the relevant time);
    2. an undertaking that meets (or any of whose holding companies or subsidiaries meets) two of the following tests
      1. a balance sheet total of EUR 12,500,000;
      2. a net turnover of EUR 25,000,000;
      3. an average number of employees during the year of 250;
  1. a partnership or unincorporated association which has (or has had at any time during the previous two years) net assets of at least £5 million (or its equivalent in any other currency at the relevant time) and calculated in the case of a limited partnership without deducting loans owing to any of the partners;
  2. a trustee of a trust (other than an occupational pension scheme, SSAS, personal pension scheme or stakeholder pension scheme) which has (or has had at any time during the previous two years) assets of at least £10 million (or its equivalent in any other currency at the relevant time) calculated by aggregating the value of the cash and designated investments forming part of the trust's assets, but before deducting its liabilities;
  3. a trustee of an occupational pension scheme or SSAS, or a trustee or operator of a personal pension scheme or stakeholder pension scheme where the scheme has (or has had at any time during the previous two years):
    1. at least 50 members; and
    2. assets under management of at least £10 million (or its equivalent in any other currency at the relevant time);
  4. a local authority or public authority
  1. a national or regional government, public body that manages public debt, a central bank, an international or supranational institution (such as the World Bank, the IMF, the ECP, the EIB) or another similar international organisation;
  1. another institutional investor whose main activity is to invest in designated investments (as defined in the Glossary to FCA's rules). This includes entities dedicated to the securitisation of assets or other financing transactions.

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1.Scope of Agreement

This agreement (the "Agreement") governs your use of the Internet Web Site located at www.act.is (the "Web Site") which is made available to you by Actis ("us", "we" or "our") as a user ("you" or "your").

There are, in addition, further notices on the Web Site itself, which will operate in addition to the terms and conditions of this Agreement. All of these notices will be brought to your attention when you first visit the relevant section of the Web Site and you will be asked to accept them. If you do not accept them, you will not have access to all areas, information or services displayed on the Web Site.

The Web Site will be made available to you free of charge in consideration of your acceptance of the terms of this Agreement.

2.Changes

We reserve the right to make changes to this Agreement from time to time. Any changes to the Agreement will be posted here. SHOULD YOU CONTINUE TO USE THE WEB SITE AFTER CHANGES HAVE BEEN POSTED HERE, YOU WILL BE DEEMED TO HAVE ACCEPTED THEM.

3. Liability

I. Information published on the Web Site

The information published on the Web Site is provided for general information purposes only and should not be used or relied on as a basis for making investment or business decisions. Nothing contained on the Web Site constitutes or should be construed to constitute investment, legal, tax or other advice. We make no representation and give no warranties (express, implied or statutory) as to the accuracy, completeness or currency, or as to the fitness for any purpose of any of the information provided on the Web Site and it should not be relied upon as such. We accept no responsibility to update any information on the Web Site. You should always consult your usual contact at Actis for further advice or information before acting on any of the information published on the Web Site.

No information (including without limitation any information describing our investment portfolio) or opinion expressed in the Web Site is intended or should be regarded as an offer, invitation, inducement or as a solicitation of an offer by us or any of our affiliate companies to you or any person to buy, sell or otherwise deal in any particular investment, or otherwise make any investment or divestment or to engage in investment activity. In providing such information we are not issuing, promulgating or providing any financial or other advice to you or any person.

Information regarding the past performance of an investment is not necessarily indirective of the future performance of that investment. The value of investments may fall as well as rise.

"Forward-looking statements" (which can be identified by the use of forward- looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue", or "belief", or the negatives thereof, or other variations thereon or comparable terminology) and all statements of opinion and/or believe contained on the Web Site and all views expressed and all projections, forecasts or statements relating to expectations regarding future events or possible future performances may prove to be incorrect and actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements.

II. Links to other web sites

You may be able to link to other Web Sites which are owned and operated by third parties ("Third Party Web Sites") from the Web Site by means of hyperlinks. Some of these Third Party Web Sites may be "framed" within the Web Site while others will open in separate windows. In each case, you should be aware that the Third Party Web Sites are independent of the Web Site and we have no control over them or their content.

Your use of any Third Party Web Site may be subject to specific legal terms and conditions which apply to those Web Sites. Third Party Web Sites are not subject to the terms of this Agreement or any other notices published on the Web Site.

The inclusion of any hyperlinks to Third Party Web Sites in the Web Site does not mean that we approve or endorse those hyperlinks or Third Party Web Sites. We accept no liability for any statements, information, products (including, without limitation, software) or services that are published on or may be accessible from Third Party Web Sites.

Where you leave the Web Site and visit a Third Party Web Site by means of hyperlinks made available on the Web Site, and if you provide personal information about yourself on that Third Party Web Site which can identify you, it may be technically possible for the person who operates that Third Party Web Site to deduce that you are one of our clients or a visitor to our Web Site due to the nature of the Internet. You hereby accept the possibility that third parties may obtain such information about you when you link to Third Party Web Sites and submit personal information about yourself on those Third Party Web Sites.

III. No Warranties

THE WEB SITE IS PROVIDED "AS IS" AND WE GIVE NO WARRANTIES IN RESPECT THEREOF. SPECIFICALLY, BUT WITHOUT LIMITATION, WE DO NOT WARRANT THAT:

YOU WILL BE ABLE TO USE THE WEB SITE OR THAT IT WILL CONTINUE TO BE MADE AVAILABLE IN ITS CURRENT OR ANY OTHER FORM AT THE CURRENT DOMAIN NAME OR ANY OTHER DOMAIN NAME;

THE WEB SITE OR ANY SOFTWARE OR MATERIAL OF WHATSOEVER NATURE AVAILABLE ON OR DOWNLOADED FROM IT WILL BE FREE FROM VIRUSES OR DEFECTS, COMPATIBLE WITH YOUR EQUIPMENT OR FIT FOR ANY PURPOSE. IT IS YOUR RESPONSIBILITY TO USE SUITABLE ANTI-VIRUS SOFTWARE ON ANY SOFTWARE OR OTHER MATERIAL THAT YOU MAY DOWNLOAD FROM THE WEB SITE AND TO ENSURE THE COMPATIBILITY OF SUCH SOFTWARE OR MATERIAL WITH YOUR EQUIPMENT;

NEWS, PRICES AND OTHER INFORMATION ON THE WEB SITE ARE ACCURATE OR COMPLETE; OR

ANY STATEMENT OF OPINION AND/OR BELIEF, ANY VIEWS EXPRESSED OR ANY PROJECTION, FORECAST OR STATEMENT RELATING TO EXPECTATIONS REGARDING FUTURE EVENTS OR POSSIBLE FUTURE PERFORMANCE IS CORRECT OR THAT ACTUAL EVENTS OR RESULTS WILL BE AS CONTEMPLATED IN SUCH STATEMENT, VIEW, PROJECTION OR FORECAST.

Any warranties which would otherwise be implied by law (including, without limitation, warranties as to satisfactory quality, fitness for purpose or skill and care) are hereby excluded to the fullest extent permitted by law.

IV. Security

You should be aware that the Internet is not a completely reliable transmission medium. If you choose to send any electronic communications to us by means of the Web Site, you do so at your own risk and we cannot guarantee that such communications will not be intercepted or changed or that they will reach the intended recipient safely.

Although we use all reasonable endeavours to ensure the Web Site is secure from attacks (such as "hacking"), we cannot guarantee that any information displayed on the Web Site has not been changed or modified through malicious attacks.

Where they have been issued to you, it is your responsibility to maintain the security and confidentiality of your password and login details. As an example only, you should not write down your password and login details. You must inform us as soon as reasonably practicable if you suspect that your password or login details are known by or available to any third party. You agree that, if you inform us of any suspected disclosure of your password and login details, we may take such steps as we consider may be reasonably necessary in the circumstances (including, without limitation, cancelling your existing password and login details and issuing a new password and login details to you).

V. Liability

IT IS A CONDITION OF OUR ALLOWING YOU FREE ACCESS TO THE WEB SITE THAT NEITHER WE NOR ANY OF OUR SUBSIDIARY OR RELATED COMPANIES OR OUR OR THEIR MEMBERS, OFFICERS OR EMPLOYEES WILL BE LIABLE TO YOU, WHETHER IN TORT(INCLUDING NEGLIGENCE), BREACH OF CONTRACT, MISREPRESENTATION OR OTHERWISE HOWSOEVER, FOR ANY LOSSES, DAMAGES, COSTS OR EXPENSES OF WHATEVER NATURE (INCLUDING, WITHOUT LIMITATION, ANY CONSEQUENTIAL, INDIRECT OR UNFORESEEABLE LOSS, OR LOSS OF GOODWILL, BUSINESS OPPORTUNITY, ANTICIPATED SAVINGS OR PROFIT, OR LOSS OF DATA INCURRED OR SUFFERED BY YOU OR ANY THIRD PARTY ARISING OUT OF OR IN CONNECTION WITH:

YOUR USE OF THE WEB SITE OR ANY SOFTWARE OR MATERIALS PROVIDED ON OR DOWNLOADED FROM THE WEB SITE;

ANY COMPUTER VIRUS TRANSMITTED THROUGH THE WEB SITE;

YOUR INABILITY TO USE THE WEB SITE AT ANY TIME AND ANY ERROR IN THE PROVISION OF THE WEB SITE;

ANY DELAY IN OR FAILURE OF THE TRANSMISSION OR THE RECEIPT OF ANY INSTRUCTIONS OR NOTIFICATION SENT THROUGH THIS WEB SITE;

YOUR USE OF E-MAIL COMMUNICATIONS TO CONTACT OR INSTRUCT US (INCLUDING, WITHOUT LIMITATION, ANY DELAY IN OUR RECEIPT OR CONFIRMATION OF SUCH A COMMUNICATION, ANY INTERCEPTION OF OR CHANGES TO SUCH A COMMUNICATION AND ANY REASONABLE DELAY IN ACTING ON SUCH A COMMUNICATION);

YOUR USE OF AND/OR RELIANCE ON OTHER INTERNET SITES TO WHICH YOU HAVE GAINED ACCESS BY MEANS OF HYPERLINKS PUBLISHED ON THE WEB SITE; vii. ANY UNAUTHORISED USE OF YOUR PASSWORD OR LOGIN DETAILS TO OBTAIN ACCESS TO THE WEB SITE AS A RESULT OF YOUR FAILURE TO COMPLY WITH THE PROVISIONS OF CLAUSE 3 IV c, UNLESS WE HAVE ACTUAL KNOWLEDGE OF SUCH UNAUTHORISED USE OR ACCESS AND FAIL TO TAKE REASONABLE STEPS TO PREVENT THE SAME; OR

ANY INACCURATE INFORMATION OR OPINIONS PUBLISHED ON THE WEB SITE OR YOUR RELIANCE THEREON.

Nothing in the Agreement shall operate to exclude or restrict our liability for (1) fraud; (2) death or personal injury resulting from our, or our members' or our employees' negligence or (3) any duty or liability Actis may have under the regulatory regime (as defined in FCA's rules) and which may not be excluded or restricted thereunder.

4. Web Site Integrity

You may not upload, post or transmit to or distribute or otherwise publish through the Web Site any materials which (i) restrict or inhibit any other user from using the Web Site, (ii) are threatening, abusive, defamatory, obscene, offensive, or otherwise unlawful, (iii) constitute or encourage conduct that would constitute a criminal offence, give rise to civil liability or otherwise violate law, (iv) infringe the rights of third parties, (v) contain a virus or other harmful component, (vi) contain advertising of any kind, or (vii) constitute or contain false or misleading indications of origin or statements of fact.

5. Email Communications

Any e-mail communications made by you to us either through the Web Site or otherwise shall take effect when they are actually received by us if sent to the relevant e-mail addresses published on the Web Site.

We may act on any instruction or other communication, whether made by e- mail or otherwise, if we believe in good faith it has been given or sent by you or on your behalf. In the interests of security we may (if we determine it to be necessary and without having first sought your express permission) telephone you to confirm or authenticate any instructions received from you by e-mail or other method of communication.

There may be delays in executing any instructions that you send to us by means of e-mail. For example, your e-mail may be received by us outside normal business hours, in which case we will only act thereon as soon as may be practicable during the next business day.

WILL BE ACTED UPON OFF-LINE AND WILL NOT BE PROCESSED OR FULFILLED AUTOMATICALLY. THIS MEANS THAT YOUR INFORMATION OR INSTRUCTIONS WILL NOT NECESSARILY BE PROCESSED OR FULFILLED OR ACTED UPON IMMEDIATELY AND IN SOME CASES THERE MAY BE A SIGNIFICANT DELAY BEFORE PROCESSING OR FULFILMENT OF THEM.

6. Intellectual Property Rights

All rights in the material on the Web Site are either owned by us or made available to us under licence. The material on the Web Site is protected by copyright. The positive power of capital is a trademark and Actis and the Actis sun logo are registered trademarks in many jurisdictions across the world. Save as provided in the Agreement any use or reproduction of these trade marks and/or devices is prohibited. All rights in the material on any other Web Sites which you may be able to link to from the Web Site are owned by third parties.

You may view the Web Site and you are welcome to print hard copies of material on it for your personal, non- commercial use. All other copying whether in electronic, hard copy or other format is prohibited and all other rights reserved.

7. Severability

If any part of the Agreement is determined by any competent authority to be invalid, unlawful or unenforceable to any extent, it shall to that extent be severed from the remainder of the Agreement, which shall continue to be valid and enforceable.

8. Assignment

You shall not assign or transfer or purport to assign or transfer any of your rights or obligations under this Agreement without our prior written consent. We shall be entitled to assign or transfer all or any of our rights and/or obligations under this Agreement to any of our subsidiaries and related companies located anywhere in the world without requiring any further consent from you.

9. No Waiver

The failure to exercise or delay in exercising a right or remedy provided by this Agreement or by law does not constitute a waiver of the right or remedy or a waiver of other rights or remedies. No single or partial exercise of a right or remedy provided by this Agreement or by law prevents further exercise of the right or remedy or the exercise of another right or remedy.

10. Governing Law

The Agreement shall be governed and construed in accordance with the laws of England and Wales. The courts of England and Wales shall have non- exclusive jurisdiction over any dispute arising out of your use of the Web Site or the Agreement and you hereby submit to the jurisdiction of the courts of England and Wales.

Privacy policy

We respect the privacy of every individual who visits the Internet Web Site located at www.act.is (the "Web Site"). In visiting the Web Site in order to deal with us you may provide us with personal information about yourself. The purpose of this statement is to set out the principles governing our use of personal information that we may obtain about you as a result of you using the Web Site. By using the Web Site you consent to the use of your personal data in accordance with the terms of this Policy.

"Us", "we" or "our" means Actis LLP and Actis GP LLP.

"personal data" means information relating to you which may be collected or created, or may have been collected or created in the course of or as a result of your use of the Web Site. In particular this will include information provided when registering for new alerts: name, email address and company name.

Collection and use of personal data

We are committed to following policies which protect your privacy and comply with the Data Protection Act 1998 in respect of personal data. We will only process personal data about you for specified and lawful purposes and any personal data which we obtain will be processed fairly and lawfully.

We collect personal data via the Web Site for legitimate use as necessary for conducting our business. In particular we may collect personal data from you through the Web Site when you subscribe to our news alert service, register for events, order or request publications, services or other information from the Web Site or when you contact us for further information via the Web Site. The personal data which we collect will be processed for the purpose of fulfilling such requests or orders.

We may, from time to time, send you further information relating to our products, events or services which we feel may be of interest to you. You may notify us at any time if you wish to cease receiving this further information by contacting us at: info@act.is.

As a means of processing your personal data for the purposes set out above, we may, in limited circumstances and if deemed appropriate, wish to send the information which you provide to us to any of our subsidiaries and related companies located anywhere in the world where we do business. This may include companies, offices or data centres outside the European Economic Area. In circumstances where you have not previously agreed or requested that your personal data is to be sent outside the European Economic Area, we will seek your explicit consent for doing so prior to it being sent.

Accuracy and security

If you believe that any of the personal data that we hold about you is incorrect please notify us at: info@act.is.

The Web Site may contain hypertext links to external Web Sites. We are not responsible for and accept no liability in relation to these Web Sites or their contents. You should read any applicable privacy policy on any such Web Site.

Your rights

We will take all reasonable steps to retain personal data only for the duration of the purpose for which it was obtained. When that period has expired or when requested by you to do so, we will delete personal information from current operational systems where it is no longer required. In limited circumstances we may need to continue to hold some details about you after your relationship with us has ended, for example for legal and regulatory reasons.

You have the right to receive certain information from us about the personal data as set out in the Data Protection Act 1998 that we hold about you (a fee may be payable). In certain circumstances you are also entitled to object to the processing of your personal data and have certain rights of access, rectification and/or removal of your personal data. To exercise these rights you should write to us at:

Actis

2 More London

Riverside

London

SE1 2JT

United Kingdom

Changes to our Internet Privacy Policy

Any changes to this Internet Privacy Policy will be posted here, so please check our Internet Privacy Policy each time you visit the Web Site