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Code of ethics

General Guidelines

1.    The members of the M&A Club should at all times abide by the “Golden Rule”: One should treat others as one would like others to treat oneself.

2.    Members are to adopt a professional and ethical attitude.

·      Members must act with dignity, integrity, honor, respect, moderation, fairness and courtesy.

·      Members must act in good faith and be open, transparent and honest in their dealings with other members.

·      Members must respect other member’s opinion and contributions.

·      Personal verbal attacks, vindictive statements, interpersonal hostilities, yelling, shouting, sarcastic, abusive, offensive, rude or indecent language, and similar forms of inappropriate behavior are not tolerated.

·      No remarks should be used or discrimination should be made based on race, gender, origin, religion, ability or age.

·      Members should be attentive and should maintain the gravity of the meeting.

·      Members should not break the sequence of discussion and should not talk when others are talking.

·      Members should dress in a business outfit in any formal event or meeting of the M&A Club.

·      Members should exhibit good attendance and punctuality in all M&A Club events.


Specific Guidelines

3.    Members recognize that active cooperation, sharing and participation are essential to the successful operation of the M&A Club.

·     Members must make a positive contribution to the M&A Club by sharing information on prospective transactions, offering services in relation with the business of M&A, etc.

·      Members may not attend the meetings with the sole purpose of obtaining information.

·      When acting on information acquired by a Member at a meeting, that Member must always mention the Member who brought that information to the meeting and involve that disclosing Member in any eventual deal.

4.     Members must have a clear mandate from the entities they represent before proposing a deal at a M&A Club meeting, posting a deal on the
website or disclosing any confidential information.

·      For example, members must be authorized by the top management of their client to find a buyer for the company.

5.     Members must establish a relationship of mutual trust among themselves.

·      Members may not share information they know to be false nor share unauthenticated information, hearsay, rumors, vane
promises, etc.

·      Members must share the information in an objective manner and avoid all exaggeration, misrepresentation, disinformation, etc.

·      Members recognize that other members may rely on the information that is shared during the meetings.

·      Members are expected to arrive at meetings fully prepared and, to the extent possible, to answer other member’s inquiries.

6.     Members must keep the information collected during the meetings confidential.

Members may not use any recording device during the M&A Club’s meetings without the prior authorization of the other members.

·      Members may not spread false or misleading information or rumors.

7.    Members should use electronic mail and Web postings with discretion.

8.    Members shall avoid any situation of conflict of interest and shall avoid putting other members in same.

9.    Members should not resort to any unfair practice.

10.  Members should comply with all applicable laws (including securities legislation) in their participation in the M&A Club and their
use of any and all information they acquire from the M&A Club.

·      Members must avoid all situations of illegal insider trading.

11.  Members who do not respect the Code of Ethics may be subject to disciplinary action.

12.  The Board of Advisors or its delegate can revoke or refuse to renew any Member’s Membership for violation of this Code of ethics. Membership
fees will not be refunded in case of revocation.