Joint liquidators’ progress report from 21 April 2017 to 20 April 2018

APVC Limited (in liquidation)

18 June 2018

APVC Limited (in liquidation) PwC Contents

Contents

Abbreviations and definitions 2

Key messages 3

Overview of what we’ve done to date 4

Outcome for creditors 5

Progress since we last reported 6

Appendix A: Receipts and payments 9

Appendix B: Expenses 10

Appendix C: Remuneration update 11

Appendix D: Other information 15

Appendix F: Creditors’ rights to opt out of receiving certain communications 16

Appendix G: General Website Notice – www.pwc.co.uk/APVC 18

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The following table shows the abbreviations and insolvency terms that may be used in this report:

Abbreviation or definition Meaning

Charged Machinery Assets located in the USA and tooling held in the UK

Committee A committee was formed at the initial meeting of creditors

to assist with the liquidation process, consisting of the

following members;

Mr Ewout Mante, representing himself.

Mr Andrew Hubbard, representing himself.

Mr Ian Ansell, representing himself.

Mr Murray Fuller, representing himself.

Mr Adam Mitchell of BM Advisory – representing

Alexander & Inèke Mante.

Company APVC Limited

CVL Creditors’ voluntary liquidation

firm PricewaterhouseCoopers LLP

HMRC HM Revenue & Customs

IA86 Insolvency Act 1986

IR16 Insolvency (England and Wales) Rules 2016

Liquidators Zelf Hussain and David Christian Chubb of 7 More London

Riverside, London, SE1 2RT

Members Shareholders of the company

secured creditors Creditors with security in respect of their debt, in

accordance with Section 248 IA86. This is believed to not

be relevant in this liquidation.

prescribed part The amount set aside for unsecured creditors from floating

charge funds in accordance with section 176A IA86 and

the Insolvency Act 1986 (Prescribed Part) Order 2003

preferential creditors Generally, claims for unpaid wages earned in the four

months before the insolvency up to £800, holiday pay and

unpaid pension contributions in certain circumstances.

This is believed to not be relevant in this liquidation.

unsecured creditors Creditors who are neither secured nor preferential

Abbreviations and definitions

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Why we’ve sent you this report I’m writing to update you on the progress of the liquidation of the Company in the 12 months since 21 April 2018.

How much creditors may receive The following table summarises the possible outcome for creditors*, based on what we currently know.

Class of creditor

Current estimate

(p in £)

Secured creditors N/A

Preferential creditors N/A

Unsecured creditors Nil

*Please note this guidance on dividends is only an indication and should not be used as the main basis of any bad debt provision or debt

trading.

There are no secured or preferential creditors of the Company.

We attach at Appendix G a general website notice, informing creditors that we will not write to individual creditors with general updates and information, but will post these on a website at www.pwc.co.uk/APVC. Creditors can request to continue to receive paper copies of such reports following the procedure set out in the notice.

What you need to do If you haven’t already done so, please send your claim to us so that the liquidotors can agree it. A claim form can be obtained by telephoning Chris Sykes on 0113 289 4083.

We may decide that some or all creditors who are owed £1,000 or less by the Company won’t be required to submit a proof of debt in order to receive a dividend payment.

A creditor who we decide is not required to submit a proof of debt will be notified when we deliver notice of our intention to pay a dividend of the amount we’ll treat as their admitted debt for the purpose of the dividend, unless the creditor advises us that the amount is incorrect (in which case a proof of debt will be required) or not owed.

Please note that should you wish to vote in relation to any decision procedure during the liquidation (which is unlikely to occur) or object to a decision sought by deemed consent, you’ll need to submit a proof of debt, even if one is not required for dividend purposes.

Opt out rights and general website notice We are required to inform you about your right to opt out of receiving further documents relating to these proceedings. Appendix [F] contains further details on this right and how you may elect to opt out.

Key messages

http://www.pwc.co.uk/APVC

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This is our first progress report to members and all classed of creditors.

We summarise below the Company’s background and reasons for its insolvency:

the Company had been incorporated as a holding company for a subsidiary named Purple Pulp Inc;

Purple Pulp Inc was incorporated in Texas, USA, to produce moulded fibre packaging in the USA;

equity investment in the Company was provided to Purple Pulp Inc by the Company and secured by a lien over certain assets. The finance was used to acquire two moulded fibre production lines located in Lubbock, Texas, USA;

before the USA production lines were fully operational, the Company ran out of funding and was unable to raise further capital to complete the project; and

The Company’s members resolved to put the Company into liquidation and we were confirmed as liquidators at a creditors meeting held 21 April 2017.

After an initial review, we decided the most appropriate strategy was to try to realise the Company’s interest in assets of Purple Pulp Inc. We remain in office to realise these assets. The majority of the value of the assets subject to the Company’s lien are located in the USA. There are complications in realising these assets given their legal ownership by Purple Pulp Inc. (which we are not appointed over) and the remoteness of the assets and the different jurisdictional laws applying. There is also certain tooling located in the UK, which may prove easier to realise, albeit subject to competing claims.

Overview of what we’ve done to date

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Outcome for creditors

Secured creditors

The Company has no secured creditors.

Preferential creditors

The Company had no employees at the date of appointment and we therefore do not believe there are any preferential creditors.

Unsecured creditors

Dividends become available for unsecured creditors when there are sufficient funds (after costs of the liquidation) to pay the secured and preferential creditors in full, with an amount left over, which as noted above, is not relevant in this instance In certain circumstances, part of the amount available for secured creditors may be ring-fenced for the benefit of unsecured creditors. This prescribed part is paid out of ‘net property’, which is floating charge realisations after costs, and after paying - or setting aside enough to pay - preferential creditors in full. But it only has to be made available where the floating charge was created on or after 15 September 2003. In this case the prescribed part doesn’t apply because there is no floating charge registered against the Company. Based on what we know currently, we expect that the costs for the liquidation could exceed realisations. Accordingly, we do not think that there will be any funds available for distribution to unsecured creditors.

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Realisation of assets

USA registered Lien over Purple Pulp Inc. Included within the directors’ statement of affairs were ‘stocks’ with a book value of £270,810 and a realisable value of £62,672. Following our appointment we investigated this asset class and determined that it related to funds advanced to Purple Pulp Inc. The funds advanced were secured by way of a formal lien registered in the USA on 22 October 2016, with security registered over the Charged Machinery. We understand that Purple Pulp Inc is no longer trading and has no other substantial assets other than the Charged Machinery, which we are advised was located in a premises in Lubbock, Texas. At the appointment date, the Company had no funds available to enable us to inspect, uplift or secure the Charged Machinery and we are unaware of its current condition. Following appointment, therefore, Mr Andy Hubbard, a director of the Company engaged US agents, Loeb to carry out a desktop valuation of the Charged Machinery. The accuracy and independence of this valuation was questioned by the Committee however, as no funds exist to pay for an alternative valuation, this is the only one available. On 26 July 2017, a meeting of the Committee considered an offer from a third party for the Charged Machinery. We advised the Committee that the offer should be accepted as it was close in value to the Loeb valuation, and due to an absence of any other offers. The Committee asked that no offers be accepted for a further period of one month to allow time for Committee members to explore alternative interest. Following this extended period, the existing offer was withdrawn, with no further alternative interest received for the Charged Machinery. We are continuing to explore offers for these assets and will provide a further update in our next report. UK based Tooling Following our appointment, we became aware that elements of the Charged Machinery, specifically specialist tooling, was held by its original manufacturer in the UK. The manufacturer is an unsecured creditor of the Company and has claimed a common law lien over the tooling in respect of its unpaid costs. We have contested the validity of this lien and a further update on this matter will be provided in our next report. Cash at bank At the date of appointment, the Company held £232 cash at bank which has been recovered into the liquidation estate. We do not believe there will be any further realisations from this source. Other assets The Company owns the share capital of Purple Pulp Inc. We do not believe these shares have any realisable value for the liquidation estate.

Progress since we last reported

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Connected party transactions During the administration, a former director of the Company and member of the Committee, Mr Andrew Hubbard, expressed an interest in purchasing all assets of the Company, including the registered lien over assets of Purple Pulp Inc.

No formal offers have been received from Mr Hubbard, however should a transaction be concluded, we will provide full disclosure to all creditors in accordance with “Statement of Insolvency Practice 13 – Disposals of Assets to Connected Parties in an Insolvency”.

Other issues Investigations in potential claims against directors At the creditors meeting held 21 April 2017, concerns were raised by both directors and members that one or more directors may have breached the provisions of the Companies Act 2006. The Liquidators were asked to investigate if these actions could lead to claims being pursued in order to generate realisations for creditors.

The concerns relating to the issue of new shares, appointing a director and for breach of contract. The Liquidators sought legal advice on these matters which concluded that although a number of procedural breaches had occurred, it was unlikely that restitution could be sought from directors as injured parties were unlikely to be able to demonstrate a loss had directly resulted from these actions. No further action will be taken on these matters.

Liquidation’ committee On 2 May 2017, creditors decided to form a Committee consisting of the following:

1. Mr Ewout Mante, representing himself. 2. Mr Andrew Hubbard, representing himself. 3. Mr Ian Ansell, representing himself. 4. Mr Murray Fuller, representing himself. 5. Mr Adam Mitchell of BM Advisory – representing Alexander & Inèke Mante.

We’re continuing to speak with the Committee to discuss issues and outline key decisions. We last formally reported to the liquidation committee on 26 July 2017.

It is also for the Committee to set out the basis of the Liquidators’ fees and category 2 disbursements, we will be formally requesting the agreement of the Committee within the next 3 months.

Investigations and actions We have reviewed the Company’s affairs and taken into account any points raised by creditors in discharging our duties under the Company Directors’ Disqualification Act 1986 and Statement of Insolvency Practice No.2. At this time, nothing has come to our attention to suggest that we need to do any more work in line with our duties.

Our receipts and payments account We set out in Appendix A an account of our receipts and payments in the liquidation from 21 April 2017 to 20 April 2018.

Our expenses We set out in Appendix B a statement of the expenses we’ve incurred to the date covered by this report and an estimate of our future expenses.

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The statement excludes any potential tax liabilities that we may need to pay as a liquidation expense in due course because amounts due will depend on the position at the end of the tax accounting period.

Our fees We set out in Appendix C, an update on our fees, disbursements and other related matters.

Prior to seeking the agreement of the Committee to the basis of our fees, we will publish on the website at www.pwc.co.uk/APVC a remuneration report, setting out the proposed basis together with a summary of the work we have or expect to have to undertake.

Creditors’ rights Creditors have the right to ask for more information within 21 days of receiving this report as set out in Rule 18.9 IR16. Any request must be in writing. Creditors can also challenge our fees and expenses within eight weeks of receiving this report as set out in Rule 18.34 IR16. This information can also be found in the guide to fees at:

file:///C:/Users/928843/AppData/Local/Microsoft/Windows/INetCache/IE/GYSHS3HT/Liquidations%20creditor%20fee%20guide%206%20April%202017.pdf

You can also get a copy free of charge by telephoning Chris Sykes on 0113 289 4083.

What we still need to do We still need to realise the Company’s interest in the Charged Machinery, including the tooling. We also need to circulate a remuneration report to creditors and agree the basis of our fees with the Committee.

Once these matters have been concluded, we will distribute any funds available to the unsecured creditors (if any) and take steps to bring the liquidation to a close.

Next report We expect to send our next report to creditors at the end of the liquidation or in about 12 months, whichever is the sooner. The report will be posted to the website by 20 June 2019.

If you’ve got any questions, please get in touch with Chris Sykes, on 0113 289 4083.

Yours faithfully

Zelf Hussain Joint Liquidator

Zelf Hussain and David Christian Chubb have been appointed as joint liquidators of APVC Limited. Both are licensed in

the United Kingdom to act as an Insolvency Practitioner by [the Institute of Chartered Accountants in England and Wales. The joint liquidators are bound by the Insolvency Code of Ethics which can be found at:

https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.

The joint liquidators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the joint liquidators. Personal data will be kept secure and processed only for matters relating to the joint liquidators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the joint liquidators.

http://www.pwc.co.uk/APVChttp://pwc.co.uk/

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Statement of

Affairs

From 21 April 2017 to

20 April 2018

Receipts

62,627 Stocks -

250 Cash at bank 232

62,877 Total receipts 232

Payments

Total payments -

Cash at Bank* 232

*these funds are held in an interest bearing account

Reciepts and Payments account for the period 21 April 2017 to 20 April 2018

Appendix A: Receipts and payments

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The following table provides details of our expenses. Expenses are amounts properly payable by us as Liquidators from the estate and includes our fees, but excludes distributions to creditors (which is not expected). The table also excludes any potential tax liabilities that we may need to pay as a liquidation expense because amounts becoming due will depend on the position at the end of the tax accounting period.

The table should be read in conjunction with the receipts and payments account at Appendix A, which shows expenses actually paid during the period and the total paid to date.

Incurred in the period

under review £

Estimated

future £

Anticipated total

£

Legal Fees 8,780 3,000 11,780

Liquidator’s Fees * 86,217 25,000 111,217

Liquidators’ Disbursements 379 500 879

Irrecoverable VAT** 19,075 5,700 24,775

Total 114,451 34,200 114,485

*The liquidators’ fees and respective irrecoverable VAT have been included as time costs incurred to date. The basis of the liquidators’ fees

have not yet been agreed with the liquidation committee and are included for illustration purposes only.

Appendix B: Expenses

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We have not yet agreed the basis of our fees with the Committee as there have been limited asset realisations to date. We intend to seek formal approval for the basis of our fees before the 18 month anniversary of our appointment.

We set out later in this Appendix details of our work to date, anticipated future work, disbursements, subcontracted work and payments to associates.

Our hours and average rates

Our time charging policy and hourly rates We and our team charge our time for the work we need to do in the liquidation. We delegate tasks to suitable grades of staff, taking into account their experience and any specialist knowledge that is needed and we supervise them properly to maximise the cost effectiveness of the work done. Anything complex or important matters of exceptional responsibility are handled by our senior staff or us.

All of our staff who work on the liquidation (including our cashiers, support and secretarial staff) charge time directly to the case and are included in any analysis of time charged. Each grade of staff has an hourly charge out rate which is reviewed from time to time. For the avoidance of doubt, work carried out by our cashiers, support and secretarial staff is charged on a time costs basis and is included in the analysis of hourly rates charged by partners or other staff members. Time is charged in three minute units (i.e. 0.05 units). We don’t charge general or overhead costs.

We set out below the maximum charge-out rates per hour for the grades of our staff who already or who are likely to work on the liquidation.

Grade To 1 July 2017 £ To 1 July 2018 £

Partner 600 (840) 620 (865)

Director 500 (740) 525 (760)

Senior manager 435 (560) 450 (575)

Manager 345 (480) 355 (495)

Senior associate 260 (400) 268 (412)

Associate 170 (250) 175 (258)

Support staff 89 (125) 92 (129)

Please note that the charge out rates in brackets represent the rates applicable to staff based in London or central functions.

APVC Limited - in liquidation

Analysis of time costs for the period from 21 Apr 2017 to 20 Apr 2018

Aspect of assignment Partner Director

Senior

Manager Manager

Senior

Associate Associate Secretarial Total hours Time cost

Average hourly

rate

£ £

1 Strategy & Planning 4.50 - 1.35 8.60 10.10 2.40 0.40 27.35 10,510.40 384.29

2 Assets 3.00 - 1.30 58.70 30.05 - - 93.05 31,921.80 343.06

3 Investigations 1.00 - - 2.75 10.30 1.75 - 15.80 4,124.50 261.04

4 Creditors 1.50 - 0.25 42.95 12.30 0.35 - 57.35 20,018.85 349.06

5 Accounting and treasury - - - 0.10 5.80 0.25 - 6.15 1,323.80 215.25

6 Statutory and compliance 6.00 - 1.10 17.10 26.00 1.45 0.70 52.35 17,547.25 335.19

7 Tax & VAT - - - 1.85 0.30 - - 2.15 770.25 358.26

Total for the period 16.0 - 4.0 132.1 94.9 6.2 1.1 254.20 86,216.85 339.17

Appendix C: Remuneration update

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We call on colleagues in our Tax, VAT, Real Estate and Pensions departments where we need their expert advice. Their specialist charge-out rates vary but the following are the maximum rates by grade per hour.

Grade To 1 July 2017 £ To 1 July 2018 £

Partner 1,250 1,315

Director 1,175 1,210

Senior manager 1,170 1,230

Manager 700 735

Senior Associate / consultant 515 545

Associate / assistant consultant 255 270

Support staff 150 160

In common with many professional firms, our scale rates may rise to cover annual inflationary cost increases.

Payments to associates We have not paid any funds to associates during the period of this report.

Our work in the period Earlier in this section we have included an analysis of the time spent by the various grades of staff. Whilst this is not an exhaustive list, in the following table we provide more detail on the key areas of work: -

Area of work Work undertaken Why the work was necessary

What, if any, financial

benefit the work provided to

creditors OR whether it was

required by statute

Strategy & planning Completing tasks relating

to job acceptance.

Preparing fees budgets and

monitoring costs.

Holding team meetings

regarding status of the

liquidation.

Planning and project

managing the different work

streams.

Costs budgets used for

monitoring and control

Mostly these are statutory

requirements but the

project management work

will assist with an efficient

and orderly progression of

the administration

Assets Liaising with valuers and

agents to realise assets of

Purple Pulp Inc, secured by

way of a US registered lien.

Reviewing asset listing

Dealing with disputes over

claims over assets

Meetings with interested

parties and directors

Realising the substantive value

in the Company’s assets.

Potential to generate value

for creditors.

Investigations Reviewing specific

transactions and liaising

with directors regarding

certain transactions.

Preparing an investigations

file and submitting our

findings to the Department

for Business, Energy and

Industrial Strategy

Investigating potential

realisations for creditors from

pre-appt actions of directors.

Complying with our statutory

obligations to report on the

conduct of directors.

Statutory requirement to

report on the conduct of

directors.

Creditors Receiving and following up

creditor enquiries via post,

telephone and email.

Dealing with general creditor

queries and gathering

Potential future benefit to

creditors should there be

sufficient realisations to

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Receipting and filing proofs

of debts.

Holding three formal

meetings of the Committee

information required to agree

creditor claims

enable a dividend to be

paid.

Accounting & Treasury Opening bank accounts and

arranging facilities.

Corresponding with banks

regarding account

transfers.

Carrying out bank

reconciliations.

Necessary to keep accurate

records of receipts and

payments

Ensuring good stewardship of

funds held on behalf of

creditors

Statutory requirements

with and good stewardship

of estate funds

Statutory & Compliance Initial letters and

notifications.

Statutory procedures in

respect of Committee

meetings.

Periodic case reviews.

Dealing with books and

records.

Providing an update to

creditors on the status of the

liquidation and potential

returns.

Ensures compliance with

statutory deadlines and

obligations

Statutory requirements

with no direct financial

benefit to creditors

Tax & VAT Carrying out initial tax

reviews and liaising with

HMRC.

This work also ensured

compliance with statutory tax

obligations to HMRC

Statutory requirements.

Ensures recovery of tax and

vat for the estate and

minimises liabilities.

Our future work We still need to do the following work in the liquidation.

Area of work Work we need to do Estimated cost £

Whether or not the work

will provide a financial

benefit to creditors

Strategy & planning Holding team meetings regarding

status of the liquidation.

£2,000 Statutory requirement.

Assets Realise assets of Purple Pulp Inc.

secured by way of a US registered

lien.

£9,000 Potential to obtain

sufficient realisations

for a dividend

Creditors Dealing with creditor enquiries and

communications with the

Committee.

£2,000 Statutory requirement.

Accounting & Treasury Dealing with receipts and

payments.

Bank reconciliations and

management of funds.

£1,000 Statutory requirement.

Statutory & Compliance Preparation of annual reports.

Preparing a Remuneration Report

and agreeing basis of liquidators’

fees.

Periodic case reviews.

Management of case records and

diary system.

£7,000 Statutory requirement.

Tax Liaising with HMRC.

Submitting corporation tax returns

and obtaining tax clearance.

£2,000 Statutory requirement.

Closing Completing internal closure

procedures and Final Account.

£2,000 Statutory requirement.

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Disbursements We don’t need to get approval to draw expenses or disbursements unless they are for shared or allocated services provided by our own firm, including room hire, document storage, photocopying, communication facilities. These types of expenses are called “Category 2” disbursements and they must be directly incurred on the case, subject to a reasonable method of calculation and allocation and approved by the same party who approves our fees.

Our expenses policy allows for all properly incurred expenses to be recharged to the liquidation but has not yet been approved by the liquidation committee.

The following disbursements arose in the period of this report.

Category Policy Costs (£)

2 Printing and other internal costs 93

1 Rail & taxi travel 120

1 Insurance / bonding 20

1 Statutory advertising 146

Total 379

Our relationships We have no business or personal relationships with the parties who approve our fees or who provide services to the liquidation where the relationship could give rise to a conflict of interest.

Details of subcontracted work No work which would usually be undertaken by the Liquidators has been subcontracted out.

Legal and other professional firms We’ve instructed the following professionals on this case:

Service provided Name of firm Reason selected Basis of fees

Legal services, including:

advice on validity of security,

director appointments; and

sale of asset contracts.

Burlingtons LLP industry

knowledge

time costs

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Company’s registered name: APVC Limited

Trading name: APVC

Registered number: 08100699

Registered address: Central Square, 29 Wellington Street, Leeds, LS1 4DL

Date of the Liquidators’ appointment: 21 April 2017

Liquidators’ names, addresses and

contact details:

Zelf Hussain and David Christian Chubb of 7 More London Riverside,

London, SE1 2RT

Appendix D: Other information

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Appendix F: Creditors’ rights to opt out of receiving certain communications

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The Insolvency (England and Wales) Rules 2016 (“IR16”)

Information provided to creditors on opting out in accordance with Rule 1.39

As part of our first communication with you, we are required to inform you about your right to elect to opt out of receiving further documents relating to these proceedings as follows:

You have the right to elect to opt out of receiving further documents about these proceedings unless:

(a) the Insolvency Act 1986 requires a document to be delivered to all creditors without expressly

excluding opted-out creditors;

(b) it is a notice relating to a change in the office-holder or the office-holder’s contact details, or;

(c) it is a notice of a dividend or proposed dividend or a notice which the court orders to be sent

to all creditors or all creditors of a particular category to which the creditor belongs.

Any election to opt out will not affect a creditor’s entitlement to receive dividends, should any be paid to creditors. Similarly, unless IR16 provide to the contrary, opting-out will not affect any right the creditor may have to vote in a decision procedure or participate in a deemed consent procedure in these proceedings, although the creditor will not receive notice of it.

If a creditor opts out, they will be treated as having opted out in respect of any consecutive insolvency proceedings of a different kind in respect of the same company.

A creditor can opt out at any time by delivering written notice to the office holder at the postal address noted in the covering correspondence or by e-mail to: creditorenquiries@uk.pwc.com. The notice must be authenticated in accordance with rule 1.5 IR16 and dated by the creditor. A creditor will be treated as an opted-out creditor as soon as reasonably practicable after delivery of the creditor’s election to opt out.

An election to opt out can be revoked at any time by delivering a further notice to the office-holder in writing, authenticated and dated by the creditor. A creditor ceases to be an opted-out creditor from the date the notice is received by the office holder.

Should you have any questions on this process, please use the contact details in the covering correspondence.

mailto:creditorenquiries@uk.pwc.com

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Appendix G: General Website Notice – www.pwc.co.uk/APVC

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Notice of use of website to deliver a document

Name of company

APVC Limited

Company number (a) 08100699

We (b) Zelf Hussain and David Christian Chubb of PricewaterhouseCoopers LLP, 7 More London Riverside, London, SE2 1RT.

the joint (c) liquidators of the company,

give notice to creditors and members that the following documents dated (d) 15 June 2018 is

available for viewing and downloading on a website:

(e) Joint Liquidators’ Progress Report from 21 April 2017 to 20 April 2018

The website address is

(f) www.pwc.co.uk/APVC

(g) The password required to view and download the document is APVC699

This document will be available on the website until at least two months after this insolvency

procedure ends, or the last office-holder receives their release.

A recipient of this notice may request, free of charge, a hard copy of the document by (h)

• writing to Chris Sykes at the address below; or • telephoning Chris Sykes on 0113 289 4083; or • emailing creditorenquiries@uk.pwc.com (*)

(*) Please include in the email title the name of the insolvent company and in the body of the e-mail your/the creditor’s name and your postal address, if different from the address to which this notice was sent. Please use the above email address to request hard copies only and not for general queries

In accordance with rule 1.49 of the Insolvency (England and Wales) Rules 2016

This notice is for use when delivering a particular document and is not a

general website notice.

(a) If the company is incorporated outside the UK or is an unregistered

company comply with IR16 r1.6

(b) Insert full names of officeholders

(c) insert nature of appointment held e.g.

administrator/liquidator

(d) insert date of document

(e) Insert name of document(s) and

Notice(s)/form(s) included in it, date and (if applicable)

any period to which the document relates

(f) insert website address

(g) select option and insert any password

(h) insert postal address, telephone number and e-

mail for hard copy requests

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A hard copy of the document[s] should be delivered free of charge within 5 business days of the receipt of a request. Dated: 15 June 2018 The joint (c) liquidators’ contact details are: (i)Postal address: PricewaterhouseCoopers LLP, 7 More London Riverside, London, SE2 1RT. Email address: creditorenquiries@uk.pwc.com Telephone number: 0113 289 4083 Zelf Hussain and David Christian Chubb have been appointed as joint liquidators of the Company. Both are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. The joint liquidators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics

The joint liquidators are Data Controllers of personal data as defined by the Data Protection Act 1998. PricewaterhouseCoopers LLP will act as Data Processor on their instructions. Personal data will be kept secure and processed only for matters relating to the liquidation.