From the administrators' statement

The Company was in breach of the terms of its lending facility in favour of the Royal Bank of Scotland Ple (the Bank).

After consulting with the Bank and considering the options available, the Company's director considered it necessary to appoint administrators, and subsequently filed a notice to the Court for the appointment of the administrators in accordance with Paragraph 22 of Schedule B1 of the Insolvency Act 1986. As a result, Sarah O’Toole and | were appointed as joint administrators on 8 August 2018.

Prior to our appointment as joint administrators, neither we nor our firm had any dealings with the Company, or its director, which could preclude us from acting as joint administrators of the Company.

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Quatro Venture Limited (SC178932)

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