REAL-TIME GLOBAL RESEARCH
Focus on refined products, more than oil: STRAT to the point | EEMEA
Research evidence excerpt
Focus on refined products, more than oil: STRAT to the point | EEMEA
1 of the Financial Services and Markets Act 2000, as amended) may otherwise lawfully be communicated or caused to be communicated. RMB Morgan Stanley Proprietary Limited is a member
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FirstRand Limited and Rand Merchant Bank (a division of FirstRand Limited) may presently hold a 1% or more of a class of common equity securities, in any companies covered in this report.
This may include holding a net long or short position of US$1 million or more of Debt securities. Within the last 12 months, FirstRand Limited may have co-managed a public offering, received
compensation for investment services, or services other than investment services, or expects to receive or intends to seek compensation for investment services not disclosed in this report.
Additionally, FirstRand limited does make a market in securities or acts as a corporate broker not disclosed in this report. FirstRand Limited (or it's directors, officers or employees) may, to the
extent permitted by law, own or have a position in the securities of any company or related company referred to herein, and may add to or dispose of any such position or may make a market
or act as a principle in any transaction in such securities or financial instruments.
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