ANNEX TO THE DISTRIBUTION PLAN
The Annex sets out, for each Client, which stock lines the Company’s books and records indicate that the Company had undertaken to hold and in what quantity. In addition, the Annex states which stock lines are, on the basis of the work undertaken by the Administrators to date, currently believed to be subject to Reconciliation Shortfalls and notes which Client Assets are intended to be transferred to the Nominated Broker (and the expected date for the Transfer as at the date the Annex is published). The Annex also notes which Client Assets are Tainted Client Assets or Non-Returnable Client Assets which may not be returned to Clients (please refer to the Distribution Plan for further details).
The Annex should be read together with the terms of the Distribution Plan itself and is subject to those terms. The Annex is required by the legislation governing the Distribution Plan. It shows the aggregate Client Assets to which Clients are entitled by reference to their unique Client Code even where a Client holds those Client Assets across different accounts with the Company.
The information contained in the Annex does not reflect any post-administration corporate actions (with the exception of certain post-administration corporate actions which have changed the nature of certain Client Assets (for example, as a result of a name change, stock split, exchange and/or merger or acquisition activity)). For security and data protection reasons, the names of Clients have been replaced in the Annex with a unique Client Code which has been notified to Clients by email or by letter and which is also available on the Portal. Any Client wishing to know its unique Client Code for the purposes of inspecting and reviewing the Annex should contact the Company’s team on:
Telephone: 020 3457 4871 (open 9.00 a.m. – 5.00 p.m. Monday to Friday)
The quantity of Client Assets shown in the Annex is the quantity which the Company had undertaken to hold. Where there are Reconciliation Shortfalls noted in the Annex (i.e. there is a “Y” in the Shortfall column), the actual quantity of Client Assets held by the Company will be less than the quantity shown in the Annex. Clients should refer to the Client Statement that the Administrators will make available after the approval of the Distribution Plan for the actual quantity of Client Assets held for them in circumstances where the Annex shows them as having a Reconciliation Shortfall.
For all of the above reasons, however, the more authoritative and up-to-date source of information for Clients regarding the Client Assets that will in due course be returned to them, is the Client Statements that the Administrators will make available to Clients through the Portal as soon as reasonably practicable following the approval of the Distribution Plan, if the Distribution Plan is approved by the Court.