Company Directors Disqualification Order

COMPANY DIRECTORS DISQUALIFICATION ACT 1986

James Samson Mitchell, formerly residing at 1/3 Borthwick View, Pentland Industrial Estate, Loanhead, and now at 2 St Mary’s Place, Edinburgh EH15 2QF, has given a disqualification undertaking, which has been accepted by the Secretary of State in terms of Section 1(A) and 7(2A) of the Company Directors Disqualification Act 1986, that he shall not be a director of a company, act as a receiver of a company’s property or in any way, whether directly or indirectly, be concerned or take part in the promotion, formation or management of a company unless (in each case) he has the leave of the Court, and he shall not act as an insolvency practitioner for a period of four years commencing on 28th October 2002.

Thereafter, in a Petition presented to the Court of Session in terms of Section 17 of the above Act at the instance of “James Samson Mitchell in respect of Protective and Decorative Surface Coatings Limited, having its registered office at 4a Gilmerton Station Road, Edinburgh EH17 8RZ on 6th December 2002 Lord Nimmo Smith pronounced inter alia the following:

The Lord Ordinary having heard Counsel, on the Motion of the Petitioner, grants leave to the Noter to continue to act as a director of Protective and Decorative Surface Coatings Limited but that under the following conditions: (1) that the company waive its rights under Section 246, 247 and 249A of the Companies Acts 1985 (as amended) and undertakes to prepare and file full audited and annual accounts within the time limits prescribed, that is within ten months of the end of each accounting period in accordance with Section 244(1)(a) of the Act, (2) that the Company waives its right under Section 225 of the Companies Act 1985 (as amended) to alter the accounting reference date or extend the accounting reference period, (3) that Management Accounts be prepared and delivered at least quarterly to the Company’s Bank and Auditors, (4) that all Statutory Returns in respect of Income Tax, PAYE/NIC and VAT are prepared and submitted within the required time periods and that all payments in respect of these taxes are paid in full, by the due dates, (5) that the accounting records of the Company shall comply with Section 221 of the Companies Act 1985 (as amended) in that they shall disclose, with reasonable accuracy, the financial position of the Company and shall show and explain all receipts and expenditure by or on behalf of the Company, (6) that James Mitchell shall not be a sole signatory to cheques drawn on the Company’s Bank Account for any sum over a certain amount (e.g. £500 or £1,000) and (7) that either Mr Mitchell does not hold or use a Company credit card or (if use of such a credit card is essential to purchase goods and materials) that Company credit card used by him must not/cannot be used to withdraw cash or to pay for goods of a personal nature; finds no expenses due to or by either party.

Mhairi Reid, Solicitor

Biggart Baillie, 7 Castle Street, Edinburgh