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Joint Administrator’s Statement of Proposals Pursuant to Paragraph 49 of Schedule B1 of The Insolvency Act 1986 (As Amended)

Administrators’ Proposals to Creditors

Administrators’ Proposals to Creditors

Background

This Statement of Proposals (“Proposal” or “Proposals”) has been prepared by D F Butters and W K Dawson, the Administrators of UK Capital Ventures Holdings Limited, Ascot Environmental Limited and Planet Advantage Limited, solely to comply with their statutory duty under Paragraph 49, Schedule B1 of the Insolvency Act 1986 (as amended) to lay before creditors a statement of their proposals for achieving the purposes of the Administrations, and for no other purpose.  It is not suitable to be relied upon by any other person, or for any other purpose, or in any other context.

This Proposal has not been prepared in contemplation of it being used, and is not suitable to be used, to inform any investment decision in relation to the debt of or any financial interest in any of the Companies listed above.

Any estimated outcomes for creditors included in this Proposal are illustrative only and cannot be relied upon as guidance as to the actual outcomes for creditors.

Any person that chooses to rely on this Proposal for any purpose or in any context other than under Paragraph 49, Schedule B1 of the Insolvency Act 1986 (as amended) does so at their own risk.  To the fullest extent permitted by law, the Administrators do not assume any responsibility and will not accept any liability in respect of this Proposal.

The Administrators act as agents for UK Capital Ventures Holdings Limited, Ascot Environmental Limited and Planet Advantage Limited, and contract without personal liability.  The appointments of the Administrators are personal to them and, to the fullest extent permitted by law, Deloitte LLP does not assume any responsibility and will not accept any liability to any person in respect of this Proposal or the conduct of the Administrations.

All licensed Insolvency Practitioners of Deloitte LLP are licensed in the UK to act as Insolvency Practitioners.

On 18 May 2012 D F Butters and W K Dawson were appointed Joint Administrators and now manage the affairs, business and property of UK Capital Ventures Holdings, Ascot Environmental Limited and Planet Advantage Limited ("the Companies"). The Joint Administrators contract as agents of the Companies only and without personal liability. Unless otherwise shown both Joint Administrators are authorised by the Institute of Chartered Accountants in England and Wales (ICAEW).

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