Investment Risk Warning
16th April 2026
This Risk Warning applies to all transactions facilitated by RetailBook Limited, including initial public offerings, follow-on share offerings, debt securities, secondary market transactions and other capital markets transactions. It is a generic warning. Where a formal offer document has been published — such as an FCA-approved prospectus or an admission document — specific risk factors are set out in that document and you should read it in full before making any investment decision. Where no formal offer document has been published, you should review the publicly available information relating to the relevant company and transaction before making any investment decision.
1. About RetailBook
RetailBook is a retail offer co-ordinator. We facilitate access for individual investors to participate in capital markets transactions alongside institutional investors. The information on this site is provided for background purposes only. It does not constitute investment advice, a personal recommendation, or an offer to sell or solicitation to buy any securities.
Nothing on this site creates a client relationship between RetailBook and any visitor to this site. RetailBook is not your broker, adviser, or agent and does not act on your behalf.
2. How to Participate
You cannot apply for securities through this site or directly through RetailBook. To participate in any offer, you must contact an authorised intermediary — such as a stockbroker, investment platform, or wealth manager — that has contracted with RetailBook to participate in the relevant offer. Not all intermediaries will be able to participate in every offer, and there is no guarantee that your chosen intermediary will be able to submit an application on your behalf.
Certain transactions featured on this site may only be available to investors who meet specific eligibility criteria — for example, sophisticated investors, high net worth individuals, or professional investors. Where this applies, RetailBook may restrict access to deal information accordingly, and not all transactions shown will be available to every visitor.
3. No Advice
RetailBook does not provide investment advice. Nothing on this site constitutes a personal recommendation, a suitability assessment, or tax advice. You should make your own independent assessment of any transaction and, if you are in any doubt, seek advice from an independent financial adviser.
4. Capital is at Risk
The value of investments can go down as well as up. You may get back less than you invest. Past performance is not an indicator of future performance and there is no guarantee of any return. Dividends are not guaranteed. You should only invest money you can afford to lose.
5. Offers May Not Complete
Every offer facilitated by RetailBook is conditional on certain events occurring — for example, the admission of the issuer’s securities to trading on the relevant market or exchange. If those conditions are not satisfied, the offer will be cancelled, you will not receive any securities, and any amount pre-paid through your intermediary will be refunded in accordance with your intermediary’s terms.
Investors in certain RetailBook offers may not be able to deal in securities on a conditional basis prior to admission, unlike certain institutional investors who may have that ability.
6. Pricing
Securities in a RetailBook offer may be offered at a fixed price determined prior to the opening of the offer, or at a price determined following a book-building process, in which case the final price will be announced once the offer closes. In either case, pricing is determined by the issuer or seller and, where applicable, its banks and underwriters. RetailBook does not set the offer price and does not seek best execution in the marketplace.
7. Allocation
Offers may be significantly oversubscribed. The issuer or seller retains discretion over allocations and may scale back applications. You may receive fewer securities than you applied for, or none at all. There is no minimum allocation. Any amounts not allocated will be refunded by your intermediary in accordance with its terms.
8. Liquidity
Securities acquired through a RetailBook offer may not be readily realisable. There may be limited or no secondary market for some securities, and it may be difficult or impossible to sell them at a reasonable price — or at all — after the offer closes. You should not invest unless you are prepared to hold the investment for an indefinite period.
9. Smaller Companies and Higher-Risk Issuers
Some offers involve smaller companies, early-stage businesses, or companies operating in higher-risk sectors or sensitive jurisdictions. These carry additional risks compared to larger, more established companies. There may be a significant difference between the subscription price and the price at which you could subsequently sell the securities, and prices may be volatile after trading commences.
AIM and Aquis are markets designed primarily for emerging or smaller companies to which a higher investment risk tends to be attached than to larger or more established companies.
10. Debt Securities
This section applies only where the relevant transaction involves bonds or other debt securities.
An investment in bonds or other debt securities carries specific risks in addition to those described above, including interest rate risk, credit risk, and liquidity risk. You should consider whether you have sufficient knowledge and financial resources to understand and bear those risks, and whether you fully understand the terms of the securities before investing.
11. Diversification
Concentrating your investments in a single company, sector, or asset class increases your exposure to specific risks. You should consider whether any investment made through a RetailBook offer is appropriate in the context of your overall portfolio.