07 MARCH 2012

Cash Position

Attached is the summary of cash balances held at 29 February 2012.


PDF Cash Position

Cash balances increased by approximately £6.5 million during the month. Loan repayments, interest and other income totalled approximately £6.7 million. Expenses were £0.2 million.

Loan Book

Attached is the summary of the loan book position at 29 February 2012.


PDF Loan Book

During February 2012, two facilities were redeemed in full and five in part realising £6.3 million overall.


The loan book details shown have been converted to Sterling using exchange rates as at 29 February 2012.


The Joint Liquidators have purchased currency options to hedge certain of the future loan receipts. Sterling options purchased to hedge future Euro receipts were matched against the relevant loans included in the summary at 29 February 2012, and we have calculated that they would add a further £
1.5 million to the value of the receipts due on these loans. Sterling options purchased to hedge future US Dollar receipts were matched against the relevant loans included in the summary at 29 February 2012, and we have calculated that they would add a further £12k to the value of the receipts due on these loans.

Contacts

The best way to make contact is to write to the bank or email branch@singers.co.im. If you need to telephone the bank, please use the main switchboard number +44 1624 699222. Please be aware that telephone calls may be recorded for security purposes.



Mike Simpson 

Joint Liquidator