In the High Court of Justice, Chancery Division

Companies Court Court Number: CR-2017-003691

STRAND CAPITAL LIMITED

(IN SPECIAL ADMINISTRATION) (“the Company / Strand”)

Registered office: 25 Moorgate, London EC2R 6AY

Principal trading address: 1 Tudor Street, London, EC4Y 0AH

The Investment Bank Special Administration Regulations 2011 ("SAR")

The Investment Bank Special Administration (England and Wales) Rules 2011 ("Rules").

NOTICE OF CLIENT CUSTODY ASSETS (“CUSTODY ASSETS”) BAR DATE

IN ACCORDANCE WITH REGULATION 11 AND RULE 138 OF THE SAR

FCA Registration Number: 494001

Adam Henry Stephens (IP No. 9748) and Henry Anthony Shinners (IP No. 9280) of Smith & Williamson LLP, 25 Moorgate London, EC2R 6AY and Virgil Harsham Levy (IP No. 19090) of LA Business Recovery Limited, 1 Beasleys Yard, 126 High Street, Uxbridge, UB8 1JT, were appointed as Joint Special Administrators (“JSAs”) of the Company on 17 May 2017 pursuant to an application made by Joseph Reginald Salisbury Egerton, sole director of the Company, under Regulation 5 of the SAR.

Notice is hereby given in accordance with Regulation 11 of the SAR and Rule 138 of the Rules, as follows:

• Under Regulations 11 of the SAR, the JSAs consider it necessary, in order to return Custody Assets, to set a bar date of midnight on 31 October 2018 (“the Custody Assets Bar Date”), for the submission of:

a) claims to the beneficial ownership, or other form of ownership, of the Custody Assets (a “Custody Assets Claim”); or

b) claims of persons in relation to a security interest asserted over, or other entitlement to, those Custody Assets (a "Security Interest Claim"),

as set out in Regulation 11(1) (a) and (b), respectively, of the SAR. Contingent or disputed claims are included within the Claims described above.

• The Custody Asset Bar Date represents the deadline by which: (i) clients are required to return their Statement of Claim to register their Custody Assets Claim(s) (or otherwise submit their Custody Asset Claim(s)) for Custody Assets and (ii) those parties asserting a Security Interest Claim are required to submit details of their Claim, to the JSAs.

• Statements of Claim were issued to all known clients on 19 September 2018, enclosing details of how to register their Custody Assets claim as outlined above.

• The purpose of the Custody Assets Bar Date is to allow the JSAs to commence the process for returning Custody Assets to the clients of Strand, in accordance with the terms of a distribution plan.

• This notice relates directly to Custody Assets only and not to Client Monies held by the Company pursuant to the Financial Conduct Authority's ("FCA") client money rules. A separate notice will be issued in this regard.

• This notice will be (as set out in Rule 138 of the Rules):

i. sent to all clients of Strand, claiming beneficial ownership, or other form of ownership, of the Custody Assets that the JSA's are aware of and have a means of contacting;

ii. sent to all parties whom the JSAs believe have a right to assert a security interest over, or other entitlement to, the Custody Assets and that the JSAs have a means of contacting;

iii. placed into the London Gazette and advertised in both the Times and Times International;

iv. be sent to the FCA; and

v. sent to the Financial Services Compensation Scheme (“FSCS”)

• A person submitting a Custody Assets Claim must do so in writing to the JSAs and the Custody Assets Claim must comply with the requirements of Rule 139 of the Rules. A person submitting a Security Interest Claim must do so in writing to the JSAs and the Security Interest Claim must comply with the requirements of Rule 140 of the Rules.

• If you believe that you have a Custody Assets Claim or a Security Interest Claim, please submit details of your Claim, in advance of the Custody Assets Bar Date, in accordance with the instructions provided to you.

• Following the Custody Assets Bar Date, those claimants who have had their respective assets returned through the distribution plan (with the sanction of the Court), will have acquired good title to those Custody Assets and there shall be no disruption to those Custody Assets that have already been returned.

• Unless otherwise sanctioned by the Court, every claimant who submits a Custody Assets Claim or a Security Interest Claim must bear the cost of making its own Claim, including but not limited to, providing additional documentation or supporting evidence.

• Should you have any general queries in relation to this notice, please contact the JSAs via the contact details provided below. For specific advice relating to the scope and effects of the notice, you should consult your own legal or professional adviser.

Contact information for Administrators: Email: strandcapital@smithandwilliamson.com. Alternative contact: Jack McGinley.

Adam Stephens, Joint Special Administrator, For and on behalf of Strand Capital Limited - In Special Administration

19 September 2018

Ag YF61123