Disclosures Austrian Stocks (for US distribution)

21.   RBIM, or an affiliate, has acted as manager, co-manager, or underwriting participant of a public offering for this company in the past twelve (12) months.                                                                                                                               
22.   RBIM, or an affiliate, has performed investment banking, capital markets, or other comparable services for this company or its officers in the past twelve (12) months.
23.   RBIM, or an affiliate, expects to receive or intends to seek compensation for investment banking services from the subject company in the next three (3) months.
24.   Securities, or derivatives thereof, of this company are owned either directly by the securities analyst or an affiliate, covering the stock, or a member of his/her team, or indirectly by the household family members.
25.   An officer, or a household family member of an officer, of RBIM, or an affiliate, is a director or an officer of the company.
26.   RBIM, or an affiliate, beneficially owns 1 % or more of any class of this company(ies) common equity.


Disclosures Austrian Stocks

If not already disclosed in 1-11: RCB or one of its affiliated legal entities resp. the relevant analyst or a natural or legal person involved in the production of the financial analysis discloses all relationships, circumstances or interests that may reasonably be expected to impair the objectivity of the financial analysis, or which represent a substantial conflict of interest concerning any financial instrument or the issuer to which the recommendation directly or indirectly relates. The relationships, circumstances or interests include for example significant financial interests with respect to the issuer or other received incentives for taking into consideration third party interests.

Interests or conflict of interests (as described in the preceding paragraph) of persons belonging to one of RCB’s affiliated legal entities are known or could reasonably have been known to the persons involved in the production of the financial analysis.

The same applies to interests or conflict of interests of persons who, although not involved in the production of the financial analysis, have or could reasonably be expected to have access to the financial analysis prior to its publication.

Disclosures CEE Stocks

Disclosure und Regulation (EU) No 596/2014

1.    RCB or a natural person involved in the preparation of the financial analysis owns a net long or short position exceeding the threshold of 0.5% of the total issued share capital of the issuer; in the case the threshold is exceeded a statement to that effect specifying whether the net position is long or short is provided.

2.    The issuer holds more than 5% of the entire issued share capital of RCB.

3.    RCB or one of its affiliated legal entities is a market maker or specialist or designated sponsor or stabilisation manager or liquidity provider in the financial instruments of the issuer.

4.    During the last 12 months, RCB or one of its affiliated legal entities played a major role or was co-leader (e.g. as lead manager or co-lead manager) in any publicly disclosed offer of financial instruments of the issuer.

5.    An agreement relating to the provision of services of investment firms set out in Sections A (investment services and activities) and B (ancillary services) of Annex I of Directive 2014/65/EU of the European Parliament and of the Council has been in effect during the previous 12 months between RCB or one of its affiliated legal entities and the issuer or such agreement has given rise during the same time period to the payment of a compensation or to the promise to get compensation paid for such services; in such cases, a disclosure will only be made if it would not entail the disclosure of confidential commercial Information.

6.    RCB or one of its affiliated legal entities has entered into an agreement with the issuer on the provision of investment recommendations.

7.    The responsible analyst or a person involved in the production of the financial analysis owns financial instruments of the issuer which she/he analyses.

8.    The responsible analyst or a person involved in the production of the financial analysis is a member of the executive board, the board of directors or supervisory board of the issuer which she/he analyses.

9.    The responsible analyst or a natural or legal person involved in the production of the financial analysis, received or acquired shares in the issuer she/he analyses prior to the public offering of such shares. The price at which the shares were acquired and the date of acquisition will be disclosed.

10.  The compensation of the responsible analyst or a natural or legal person involved in the production of the financial analysis is (i) linked to the provision of services of investment firms set out in Sections A (investment services and activities) and B (ancillary services) of Annex I of Directive 2014/65/EU of the European Parliament and of the Council provided by RCB or one of its affiliated legal entities resp. is (ii) linked to trading fees, that RCB or one of its affiliated legal entities receives.

11.  RCB and the issuer have agreed that RCB will produce and disseminate investment research on such issuer.



Disclosures Austrian Stocks (for US distribution)

21. RBIM, or an affiliate, has acted as manager, co-manager, or underwriting participant of a public offering for this company in the past twelve (12) months.                                                                                                                               
22. RBIM, or an affiliate, has performed investment banking, capital markets, or other comparable services for this company or its officers in the past twelve (12) months.
23. RBIM, or an affiliate, expects to receive or intends to seek compensation for investment banking services from the subject company in the next three (3) months.
24. Securities, or derivatives thereof, of this company are owned either directly by the securities analyst or an affiliate, covering the stock, or a member of his/her team, or indirectly by the household family members.
25. An officer, or a household family member of an officer, of RBIM, or an affiliate, is a director or an officer of the company.
26. RBIM, or an affiliate, beneficially owns 1 % or more of any class of this company(ies) common equity.

Company|Disclosures
Addiko Bank AG|4,5,21,23
AGRANA|3,5,22
AMAG|3,5,22
ams|3,22
Andritz|3,22
Atrium|3,22
AT&S|3,5,22
BAWAG|3,5,22
BUWOG|3,22
CA Immo|3,4,21,22
DO & CO|3,5,22
Erste Group|3,22
EVN|3,5,22
FACC|3,22
Flughafen Wien|3,22
Frequentis AG|3,5,22
IMMOFINANZ|3,5,21,22
Kapsch TrafficCom|3,22
Company|Disclosures
KTM Industries|3,5,22
Lenzing|3,22
Mayr-Melnhof|3,11,22
MTH|-
Oesterreichische Post|3,5,6,22
OMV|3,4,21,22
Ottakringer|5,22
Palfinger|3,11,22
Pankl Racing Systems|5,22
Polytec|3,5,22
PORR|3,22
Raiffeisen Bank Intl.|2,3,5,22
RHI Magnesita|3,5,22
Rosenbauer|3,5,22
S IMMO|3,4,11,21,22
Company|Disclosures
SBO|3,5,22
Semperit|3,22
S&T|3,5,22
STRABAG SE|3,5,22
Telekom Austria|3,22
UBM Development|3,22
UNIQA|1,3,5,22
Valneva|3,22
Verbund|3,22
Vienna Insurance Group|3,22
voestalpine|3,22
Warimpex|3,5,22
Wienerberger|3,6,22
Wolford|3,22
Zumtobel|3,22


Disclosures CEE Stocks

CROATIA

Company|Disclosures
Adris|-
Atlantic Grupa|-
Ericsson Nikola Tesla|-
Hrvatski Telekom|-
Ledo|3,6,22
Podravka|-
Valamar Riviera|-
Viro|5

CZECH REPUBLIC

Company|Disclosures
CEZ|3,4,6,21,22
Komercni Banka|3,22
Moneta Money Bank|3,22
O2 Czech Republic|3,22
Unipetrol|-

HUNGARY

Company|Disclosures
Gedeon Richter|-
Magyar Telekom|-
MOL|6,22
OTP|-
Waberer’s|-
Wizz Air|-

POLAND

Company|Disclosures
11 bit studios|3,22
Agora|-
Alior Bank|3,22
Altus TFI|-
Amica|-
AmRest|3,22
Asseco Poland|3,22
Asseco South Eastern Europe|-
Atal|-
Bank BGZ|-
Bank Handlowy|3,22
Bank Millennium|3,22
Bank Pekao SA|3,22
Bogdanka|-
Budimex|3,22
Capital Park|-
CCC|3,22
CD Projekt|3,22
Celon Pharma|-
Ciech|3,22
Cyfrowy Polsat|3,22
Dino|3,22
Dom Development|-
Echo Investment|3,22
Enea|3,22
Energa|3,22
Enter Air|-
Eurocash|3,22
Forte|-
GetBack|-
Getin|-
Getin Noble Bank|-
Globe Trade Centre|3,22
Grupa Azoty|3,22
JSW|3,22
Kety|-
KGHM|3,22
Lotos|-
LPP|3,22
mBank|3,22
Medicalgorithmics|-
Mostostal Warszawa|-

POLAND continuation

Company|Disclosures
Netia|-
Orange Polska|3,22
PBG|-
PBKM|-
Pfleiderer|-
PGE|3,22
PGNiG|3,22
PKN|3,22
PKO BP|3,22
PKP Cargo|3,22
Play Communications|3,22
Playway|-
Police|-
Polimex-Mostostal|-
Polnord|-
PZU|3,22
Quercus TFI|-
Rainbow Tours|-
Santander Bank Polska|3,22
Skarbiec Holding|-
Tauron|3,22
Ten Square Games|-
Torpol|-
Wirtualna Polska|3,22
ZE PAK|-

ROMANIA

Company|Disclosures
Alro|-
Banca Transilvania|3,22
Biofarm|-
BRD-GSG|3,22
Bucharest Exchange|-
Conpet|-
Digi Communications |3,22
Electrica|-
Fondul Proprietatea|25
MedLife|25
Nuclearelectrica|-
OMV Petrom|3,22
Prospectiuni|-
Romgaz|-
Ropharma|-
SIF Banat-Crisana|-
SIF Moldova|3,22
SIF Muntenia|-
SIF Oltenia|-
SIF Transilvania|-
Sphera Franchise Group|5,22
Teraplast|25
TMK Artrom|4,5,21,22,23
Transelectrica|3,22
Transgaz|3,22

SERBIA

Companies|Disclosures
Aik Banka|-
Komercijalna|-

SLOVENIA

Companies|Disclosures
Gorenje|-
Krka|-
NLB Group|-
Triglav|-

SWITZERLAND

Company Disclosures
Aluflexpack 4,21

RUSSIA

Company|Disclosures
Acron|-
Aeroflot|-
ALROSA|-
ANK Bashneft|-
Detskiy Mir |4,21
DIXY Group|-
En+|-
Enel Russia|-
Evraz|-
Federal Grid Company|-
Gazprom|3,22
Gazprom Neft|-
Global Ports|-
Globaltrans|4,21
InterRAO|-
Lenta|3,4,21,22
Lukoil|3,22
Magnit|3,4,21,22
Mail.Ru Group|3,22
Mechel|-
MegaFon|3,4,21,22
MMK|-
MOESK|-
Moscow Exchange|-
Mosenergo|-
MRSK Sibiri|-
MTS|4,21
M.video|-
NLMK|-
Norilsk Nickel|-
Novatek|3,22
Obuv Rossii|-
OGK-2|-
OKey|4,21
Petropavlovsk|-
PhosAgro|3,22
Polymetal International|-
Polyus|-
Raspadskaya|-
Rosneft|3,22
Rosetti|-
Rostelecom|-
RUSAL|-
RusHydro|3,22
Russneft|3,22
Sberbank|3,22
Severstal|3,22
Sistema|3,22
Surgutneftegas|3,22
Synergy Group|-
Tatneft|3,22
TGK-1|-
Transneft|-
Unipro|-
Uralkali|4,21
VEON|-
X5|3,4,21,22
Yandex|-

PORTUGAL

Companies|Disclosures
Jeronimo Martins|-

MOLDOVA

Companies|Disclosures
Purcari Wineries|-

If not already disclosed in 1-11: RCB or one of its affiliated legal entities resp. the relevant analyst or a natural or legal person involved in the production of the financial analysis discloses all relationships, circumstances or interests that may reasonably be expected to impair the objectivity of the financial analysis, or which represent a substantial conflict of interest concerning any financial instrument or the issuer to which the recommendation directly or indirectly relates. The relationships, circumstances or interests include for example significant financial interests with respect to the issuer or other received incentives for taking into consideration third party interests.

Interests or conflict of interests (as described in the preceding paragraph) of persons belonging to one of RCB’s affiliated legal entities are known or could reasonably have been known to the persons involved in the production of the financial analysis.

The same applies to interests or conflict of interests of persons who, although not involved in the production of the financial analysis, have or could reasonably be expected to have access to the financial analysis prior to its publication.


If not already disclosed in 101-110: Global Securities ("GMD") or one of its affiliated legal entities resp. the relevant analyst or a natural or legal person involved in the production of the financial analysis discloses all relationships, circumstances or interests that may reasonably be expected to impair the objectivity of the financial analysis, or which represent a substantial conflict of interest concerning any financial instrument or the issuer to which the recommendation directly or indirectly relates. The relationships, circumstances or interests include for example significant financial interests with respect to the issuer or other received incentives for taking into consideration third party interests.

Interests or conflict of interests (as described in the preceding paragraph) of persons belonging to one of GMD's affiliated legal entities are known or could reasonably have been known to the persons involved in the production of the financial analysis.

The same applies to interests or conflict of interests of persons who, although not involved in the production of the financial analysis, have or could reasonably be expected to have access to the financial analysis prior to its publication.

American Disclosures
Global Securities ("GMD")

121.   GMD, or an affiliate, has acted as manager, co-manager, or underwriting participant of a public offering for this company in the past twelve (12) months.

122.   GMD, or an affiliate, has performed investment banking, capital markets, or other           comparable services for this company or its officers in the past twelve (12) months.

123.   GMD, or an affiliate, expects to receive or intends to seek compensation for investment    banking services from the subject company in the next three (3) months.

124.   Securities, or derivatives thereof, of this company are owned either directly by the securities analyst or an affiliate, covering the stock, or a member of his/her team, or indirectly by the household family members.

125.   An officer, or a household family member of an officer, of GMD, or an affiliate, is a director or an officer of the company.

126.   GMD, or an affiliate, beneficially owns 1 % or more of any class of this companies) common equity.

 

Disclosures Turkish Stocks

Disclosure und Regulation (EU) No 596/2014

1.    RCB or a natural person involved in the preparation of the financial analysis owns a net long or short position exceeding the threshold of 0.5% of the total issued share capital of the issuer; in the case the threshold is exceeded a statement to that effect specifying whether the net position is long or short is provided.

2.    The issuer holds more than 5% of the entire issued share capital of RCB.

3.    RCB or one of its affiliated legal entities is a market maker or specialist or designated sponsor or stabilisation manager or liquidity provider in the financial instruments of the issuer.

4.    During the last 12 months, RCB or one of its affiliated legal entities played a major role or was co-leader (e.g. as lead manager or co-lead manager) in any publicly disclosed offer of financial instruments of the issuer.

5.    An agreement relating to the provision of services of investment firms set out in Sections A (investment services and activities) and B (ancillary services) of Annex I of Directive 2014/65/EU of the European Parliament and of the Council has been in effect during the previous 12 months between RCB or one of its affiliated legal entities and the issuer or such agreement has given rise during the same time period to the payment of a compensation or to the promise to get compensation paid for such services; in such cases, a disclosure will only be made if it would not entail the disclosure of confidential commercial Information.

6.    RCB or one of its affiliated legal entities has entered into an agreement with the issuer on the provision of investment recommendations.

7.    The responsible analyst or a person involved in the production of the financial analysis owns financial instruments of the issuer which she/he analyses.

8.    The responsible analyst or a person involved in the production of the financial analysis is a member of the executive board, the board of directors or supervisory board of the issuer which she/he analyses.

9.    The responsible analyst or a natural or legal person involved in the production of the financial analysis, received or acquired shares in the issuer she/he analyses prior to the public offering of such shares. The price at which the shares were acquired and the date of acquisition will be disclosed.

10.  The compensation of the responsible analyst or a natural or legal person involved in the production of the financial analysis is (i) linked to the provision of services of investment firms set out in Sections A (investment services and activities) and B (ancillary services) of Annex I of Directive 2014/65/EU of the European Parliament and of the Council provided by RCB or one of its affiliated legal entities resp. is (ii) linked to trading fees, that RCB or one of its affiliated legal entities receives.

11.  RCB and the issuer have agreed that RCB will produce and disseminate investment research on such issuer.


 

Disclosures Austrian Stocks (for US distribution)

21.  RBIM, or an affiliate, has acted as manager, co-manager, or underwriting participant of a public offering for this company in the past twelve (12) months.

22.  RBIM, or an affiliate, has performed investment banking, capital markets, or other comparable services for this company or its officers in the past twelve (12) months.

23.  RBIM, or an affiliate, expects to receive or intends to seek compensation for investment banking services from the subject company in the next three (3) months.

24.  Securities, or derivatives thereof, of this company are owned either directly by the securities analyst or an affiliate, covering the stock, or a member of his/her team, or indirectly by the household family members.

25.  An officer, or a household family member of an officer, of RBIM, or an affiliate, is a director or an officer of the company.

26.  RBIM, or an affiliate, beneficially owns 1 % or more of any class of this company(ies) common equity.

 


Disclosure und Regulation (EU) No 596/2014
Global Securities ("GMD")

101. GMD or a natural person involved in the preparation of the financial analysis owns a net long or short position exceeding the threshold of 0.5% of the total issued share capital of the issuer; in the case the threshold is exceeded a statement to that effect specifying whether the net position is long or short is provided.

102. The issuer holds more than 5% of the entire issued share capital of GMD.

103. GMD or one of its affiliated legal entities is a market maker or specialist or designated sponsor or stabilisation manager or liquidity provider in the financial instruments of the issuer.

104. During the last 12 months, GMD or one of its affiliated legal entities played a major role or was co-leader (e.g. as lead-manager or co-lead manager) in any publicly disclosed offer of financial instruments of the issuer.

105. An agreement relating to the provision of services of investment firms set out in Sections A (investment services and activities) and B (ancillary services) of Annex I of Directive 2014/65/EU of the European Parliament and of the Council has been in effect during the previous 12 months between GMD or one of its affiliated legal entities and the issuer or such agreement has given rise during the same time period to the payment of a compensation or to the promise to get compensation paid for such services; in such cases, a disclosure will only be made if it would not entail the disclosure of confidential commercial information.

106. GMD or one of its affiliated legal entities has entered into an agreement with the issuer on the provision of investment recommendations.

107. The responsible analyst or a person involved in the production of the financial analysis owns financial instruments of the issuer which she/he analyses.

108. The responsible analyst or a person involved in the production of the financial analysis is a member of the executive board, the board of directors or supervisory board of the issuer which she/he analyses.

109. The responsible analyst or a natural or legal person involved in the production of the financial analysis, received or acquired shares in the issuer she/he analyses prior to the public offering of such shares. The price at which the shares were acquired and the date of acquisition will be disclosed.

110. The compensation of the responsible analyst or a natural or legal person involved in the production of the financial analysis is (i) linked to the provision of services of investment firms set out in Sections A (investment services and activities) and B (ancillary services) of Annex I of Directive 2014/65/EU of the European Parliament and of the Council provided by GMD or one of its affiliated legal entities resp. is (ii) linked to trading fees, that GMD or one of its affiliated legal entities receives.

 


 

American Disclosures
Global Securities ("GMD")

121.   GMD, or an affiliate, has acted as manager, co-manager, or underwriting participant of a public offering for this company in the past twelve (12) months.

122.   GMD, or an affiliate, has performed investment banking, capital markets, or other comparable services for this company or its officers in the past twelve (12) months.

123.   GMD, or an affiliate, expects to receive or intends to seek compensation for investment banking services from the subject company in the next three (3) months.

124.   Securities, or derivatives thereof, of this company are owned either directly by the securities analyst or an affiliate, covering the stock, or a member of his/her team, or indirectly by the household family members.

125.   An officer, or a household family member of an officer, of GMD, or an affiliate, is a director or an officer of the company.

126.   GMD, or an affiliate, beneficially owns 1 % or more of any class of this companies) common equity.

 


Companies|Disclosures
Adel Kalemcilik|-
Akbank|-
Akcansa Cimento|-
Aksa Akrilik|-
Aksa Enerji|-
Alarko Holding|-
Albaraka Turk|-
Alcatel Lucent Teletas|-
Alkim Alkali Kimya|-
Alkim Kagit|-
Anadolu Cam|-
Anadolu Efes|-
Anel Elektrik|-
Arcelik|-
Aselsan Elektronik|-
Aygaz|-
Bagfas|-
Bak Ambalaj|-
Banvit A.S.|-
Bim|-
Bizim Toptan|-
Borusan Mannesmann Boru|-
Brisa|-
CarrefourSa|-
Celebi Hava Servisi|-
Cemtas Celik Makine|-
Cimsa Cimento|-
Coca Cola Icecek|-
Componenta Dökümcülük|-
Datagate Bilgisayar|-
Dogan Holding|-
Dogus Otomotiv|-
Durdo Dogan Basim|-
Ege Endüstri|-
Ege Seramik|-
Emlak Konut REIT|-
Enerjisa Enerji|-
Enka Insaat|-
Erbosan Erciyas Boru|-
Eregli Demir celik|-
Companies|Disclosures
Fonet Bilgi Tekonojileri|-
Ford Otosan|-
Garanti Bank|-
Gentas Genel Metal|-
Global Yatirim Holding|-
Good Year|-
Gozde Girisim|-
Gubre Fabrikalari|-
Halk Bank|-
Halk REIT|-
Hektas Ticaret|-
Indeks Bilgisayar|-
Ipek Dogal Enerji|-
Is Bank|-
Is REIT|-
Jantsa Jant Sanayi|-
Kafein Yazilim|-
Kardemir Karabuk Demir Celik|-
Karel Elektronik|-
Kerevitas Gida|-
Klimasan Klima Sanayi|-
Koc Holding|-
Konfrut Gida|-
Kordsa|-
Koza Altin|-
Koza Anadolu Metal|-
Kron Telekomünikasyon|-
LOGO|-
Lokman Hekim|-
Mavi Giyim|-
Migros Ticaret|-
MLP Saglik Hizmetleri|-
Netas|-
ODAS|-
ORGE Enerji Elektrik Taahhüt|-
Otokar Otomotiv ve Savunma|-
Park Elektrik|-
Parsan Makine|-
Pegasus Airlines|-
Petkim|-
Plastik Kart|-
Polisan|-
Politeknik Metal|-
Sabanci Holding|-
Sasa Polyester|-
Selcuk Ecza|-
Sinpas GMYO|-
Companies|Disclosures
Sise Cam|-
SODA|-
Sok Marketler Ticaret|-
Tat Gida|-
TAV Airports|-
Tekfen Holding|-
TeknoSa|-
Tofas|-
Torunlar REIT|-
Trakya Cam|-
TSKB|-
Tumosan|-
Tupras|-
Turcas Petrol|-
Turk Telekom|-
Turk Traktor|-
Türk Tuborg|-
Turkcell|-
Turkish Airlines|-
Ulker Biskuvi|-
Ulusoy Elektrik|-
Ulusoy Un|-
Usak Seramik|-
Vakif Bank|22
Vakko Tekstil|-
Vestel Beyaz|-
Vestel Elektronik|-
Yapi ve Kredi Bank|-
Yatas|-
Yazicilar Holding|-
Zorlu Enerji|-

If not already disclosed in 1-11: RCB or one of its affiliated legal entities resp. the relevant analyst or a natural or legal person involved in the production of the financial analysis discloses all relationships, circumstances or interests that may reasonably be expected to impair the objectivity of the financial analysis, or which represent a substantial conflict of interest concerning any financial instrument or the issuer to which the recommendation directly or indirectly relates. The relationships, circumstances or interests include for example significant financial interests with respect to the issuer or other received incentives for taking into consideration third party interests.

Interests or conflict of interests (as described in the preceding paragraph) of persons belonging to one of RCB’s affiliated legal entities are known or could reasonably have been known to the persons involved in the production of the financial analysis.

The same applies to interests or conflict of interests of persons who, although not involved in the production of the financial analysis, have or could reasonably be expected to have access to the financial analysis prior to its publication.


If not already disclosed in 101-110: Global Securities ("GMD") or one of its affiliated legal entities resp. the relevant analyst or a natural or legal person involved in the production of the financial analysis discloses all relationships, circumstances or interests that may reasonably be expected to impair the objectivity of the financial analysis, or which represent a substantial conflict of interest concerning any financial instrument or the issuer to which the recommendation directly or indirectly relates. The relationships, circumstances or interests include for example significant financial interests with respect to the issuer or other received incentives for taking into consideration third party interests.

Interests or conflict of interests (as described in the preceding paragraph) of persons belonging to one of GMD's affiliated legal entities are known or could reasonably have been known to the persons involved in the production of the financial analysis.

The same applies to interests or conflict of interests of persons who, although not involved in the production of the financial analysis, have or could reasonably be expected to have access to the financial analysis prior to its publication.