CODE OF CONDUCT

All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.

Adam Smith

This aphorism from Adam Smith seems to be still widely valid in modern times. Every action will inevitably be adverse to someone, somewhere, at some time. We at PRC Partners are convinced that the negative effects on others, possibly caused by corporate action, should be as minute as possible without affecting corporate performance. Consequently, we formulated some principles to guide our team and to give our clientele and business partners an impression of how we conduct our business.

Our clients and their wishes constitute the foundation of our business; consequently, they deserve our maximum efforts concerning professionalism, veracity and courtesy.

All our activities are governed by national and international laws, regulations and widely accepted trade practices and shall be performed to our best knowledge and conviction.

Possibly emerging dissensions, conflicts of interest, or undetermined issues in client relations shall primarily be settled by mutual consent and to mutual benefit.

All client data and information is confidential. We desist from undue leveraging on privileged information.

We shall under no circumstances counsel or assist clients to commit tax evasion, tax avoidance, or in the concealment of income.

We shall not engage in business relations or transactions involving funds of unaccounted provenance or illicit origin. Under no circumstances shall we advise or support the concealment of the illicit origin of funds.

We shall generally not suggest Private Placements of listed companies unless PRC Partners are also subscribers or hold an equity stake in the respective corporation.

We strive to support small- and mid-cap companies in their development, which enables them to create new jobs, innovative technologies and new products, thus hopefully and gradually improving the quality of life, the living environment, and the well-being of all people.