Following the interim distribution made to eligible contributories on 14 November 2016, the Liquidators wish to update the contributories as follows:

1. A proof of debt exercise has been carried out and the Company is in the process of validating and/or resolving the claims;
2. The Company is attending to the tax compliance matters. Subsequent to this, the Company will seek to obtain tax clearance from the tax authority of which a preliminary meeting with the Inland Revenue Board was held on 29 November 2017 attended also by the former Chairman of the Company;
3. The Company is hoping to receive the tax clearance from the Inland Revenue Board not later than the second quarter of 2018: and
4. Final distribution from the cash trust account to the contributories can only be determined and executed, inter alia, after obtaining the tax clearance.

This announcement is dated 11 December 2017.