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Administrators' Report to Creditors - ASX

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13 March 2014

Administrators’ Report to Creditors Forge Group Limited (ASX: FGE) (Administrators Appointed) (Receivers and Managers Appointed) provides a copy of the attached Report to Creditors prepared by Administrators, Ferrier Hodgson, pursuant to Section 439A(4)(a) of The Corporations Act 2001 A further update will be provided to shareholders in due course. ENDS

Contact Administrators: Ferrier Hodgson Tel: +61 (0) 8 9214 1485 Email: [email protected]

ASX Code: FGE www.forgegroup.com



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Schedule of Annexures Reference

Annexure

1

Schedule of Companies

2

Chronology of Events

3

Summary of Directors

4

Summary of PPSA Registrations

5

Forge Group Limited (FGL)

6

Forge Group Power Pty Ltd (FGP)

7

Forge Group Construction Pty Ltd (FGC)

8

Forge Group Minerals & Resources Pty Ltd (FGMR)

9

Forge Group Asset Management Pty Ltd (FGAM)

10

Forge Group International (FGI)

11

Abesque Engineering Pty Ltd (AEPL)

12

Alanthus Nominees Pty Ltd (ANPL)

13

Cimeco Pty Ltd (CPL)

14

CTEC Pty Ltd (CTEC)

15

Energy Maintenance Partners Pty Ltd (EMPPL)

16

Corporate Structure Diagram

17

Updated DIRRI

18

Administrators’ Remuneration Report

Annexure 1 Schedule of Companies

Administrators Appointed Company

ACN

Forge Group Ltd

065 464 226

Alanthus Nominees Pty Ltd

112 996 746

Energy Maintenance Partners Pty Ltd

147 111 215

Forge Group Asset Management Pty Ltd

161 511 486

Forge Group Construction Pty Ltd

114 897 728

Forge Group Minerals & Resources Ltd

113 740 211

Forge Group Power Pty Ltd

103 678 324

Forge International Pty Ltd

128 522 305

Cimeco Pty Ltd

161 511 477

CTEC Pty Ltd

161 511 468

Abesque Engineering Pty Ltd

161 511 931

Receivers and Managers Appointed Company Forge Group Ltd

ACN 065 464 226

Forge Group Asset Management Pty Ltd

161 511 486

Forge Group Construction Pty Ltd

114 897 728

Forge Group Minerals & Resources Ltd

113 740 211

Forge Group Power Pty Ltd

103 678 324

Forge International Pty Ltd

128 522 305

Annexure 2 Forge Group Limited (Administrators Appointed) (Receivers and Managers Appointed) (FGL)

Chronology of Major Events

Summarised below are the significant events of the Forge Group Companies from the date of listing on the ASX to the date of our appointment. Date

Event

26 June 2007

AiConstruction Ltd begins trading as Forge Group and lists on the ASX.

1 February 2008

Forge Group acquires Abesque Engineering. Clough purchase 10.5m shares in Forge Group, becoming the largest shareholder with 13% of ordinary shares. Clough acquires more shares in the Company taking their shareholding to 30.6% of Forge Group. FGL entered into a share purchase agreement to acquire 100% of the issued share capital of CTEC Pty Limited. FGL settled the initial cash consideration of the share purchase in CTEC. The share purchase agreement was signed and FGL took ownership of the shares. The total consideration transferred was in the amount of $32.26m. Forge Group completes acquisition of CTEC.

6 April 2010 19 April 2010 13 January 2012 20 January 2012 23 January 2012 18 February 2013 25 March 2013

28 March 2013 9 April 2013 17 May 2013 3 June 2013 2 July 2013

22 August 2013

29 August 2013

30 August 2013

2 September 2013

5 September 2013

11 September 2013

12 September 2013

19 September 2013

23 September 2013

FGL released their half year results, and announced the half year dividend payment. A trading halt was put in place by the ASX pending an announcement from the Company. Clough Limited divested their 35% holding in the Group, which was largely taken up by large institutional investors. Notice of ceasing to be a substantial holder lodged by Clough. Final Director’s Interest Notice lodged for Neil Siford and Kevin Thomas Gallagher, both stating a Nil remaining interest in the Company. Last date of service was 28 March 2013. Mr Glen Smith, announced as full time company secretary of the Group. FGL awarded $290m Dugald River contract. FGL acquires Taggart Global, a US based Asset Management, Engineering and EPC business for $43m. FGL are awarded a $70m contract for the construction of the TAN Burrup processing plant. Mitsubishi UFJ Financial Group give notice of change of interests of substantial holder, after disposing of 910,137 shares and reducing their voting power from 6.52% down to 5.47%. Morgan Stanley & Co. International plc give notice of change of interests of substantial holder, after disposing of 910,137 shares and reducing their voting power from 6.52% down to 5.47%. Release of 2013 Annual Report showing a net profit after tax of $63m and total equity of $213.5m, and a fully franked total dividend of $0.14 per security. FGL responds to claims by an Australian Financial Review article stating that the Company had secured an engineering, procurement and construction contract for the Roy Hill iron ore mine, stating that FGL were in discussions with Samsung C&T regarding the tender, but the tender process was still ongoing, and remained competitive. Announcement of a $1.47 billion joint venture contract in partnership with Spanish engineering firm Duro Felguera. The contract is valued at $830m for FGL, FGL’s largest contract to date, and increases FGL’s order book value to $2.1 billion. Announcement of Initial Directors Interest for Julie Beeby and Grahame White indicating a nil holding in the Company for both directors. Mitsubishi UFJ Financial Group give notice of ceasing to be a substantial shareholder in the Company. Morgan Stanley & Co. International Plc give notice of ceasing to be a substantial shareholder in the Company. FGL announce that they have secured a $100m construction contract to facilitate the extension of the Yandicoogina mining area, for Rio Tinto. Announcement from FGL that the AGM is to be held on 24 October 2013. FGL announce that that MMG Limited has terminated its contract with FGL for its Dugald River Processing facility in Queensland. The announcement notes that the cancellation of the project will have a minimum impact on the Company’s revenue and earnings in FY 2014 as most of the work was to be undertaking in FY2015. AMP announce that they have disposed of 1,690,069 decreasing their voting power from 7.23% to 5.27%.

Date 2 October 2013 4 October 2013 7 October 2013

24 October 2013

29 October 2013 1 November 2013 4 November 2013 5 November 2013 6 November 2013 11 November 2013

13 November 2013

18 November 2013

28 November 2013

Event AMP announce that they are no longer a substantial shareholder of Forge group stock. FGL give an update on the Vista Project, noting that it is due to commence in Q2 2014, and is continuing with detailed engineering works in order to deliver first coal in late 2015. Announcement that FGL had secured $50m in asset management contracts in North America and Australia Since 1 June 2013. FGL held its AGM at which the following resolutions were passed: 1. Adoption of remuneration report. 2. Election of John O’Connor as a Director. 3. Election of Gregory Kempton as Director. 4. Election of Julie Beeby as Director. 5. Election of Grahame White as a Director. 6. Grant performance rights to David Simpson. 7. Increase aggregate fees Non-Executive Directors. 8. Adoption of new constitution. Final Director’s Interest Notice issued for Marcello Cardaci following his cessation as director. The Final Director’s Interest Notice showed that Mr Cardaci did not have a share interest in the Company. FGL Managing Director, David Simpson’s performance rights increased from 653,396 to 824,546, as approved by shareholders on 24 October 2013. Vinva Investment Management acquired 1,379,473 shares in FGL increasing their voting power to 8.94%. Request for a trading halt by FGL is granted by the ASX, until the earlier of the commencement of normal trading on Wednesday, 6 November 2013, or when an announcement is released to the market. KordaMentha are appointed by the ANZ Bank to review various Company materials and engage with the Company on its behalf. Request for a voluntary suspension of trading granted by the ASX. FGL request an extension to the voluntary suspension in trading, advising that it does not have sufficient certainty regarding its projects and ongoing financing to make an announcement to the market. Management advised that they expect to make an announcement to the market by 13 November 2013. FGL request a further extension to the Voluntary Suspension in trading, advising that management were still in discussions with financiers, advisers and certain contractual counterpoints. The voluntary suspension from trading was expected to last until Monday, 18 November 2013. FGL request a further extension to the voluntary suspension in trading. They further advised of the following key points: ƒ ANZ continue to provide support for the Company, and all existing facilities are still in place, and FGL management are negotiating new facilities with the ANZ; ƒ FGL are looking at a potential equity capital raising. FGL had approached the ASIC to seek permission to conduct a “low document” accelerated rights issue, however this was rejected. FGL were therefore working on preparing a prospectus; ƒ The underperforming assets of the Company had been quarantined from normal business operations, with all other parts of the business trading as normal; ƒ Forge had entered into negotiated agreements, with the Customer and subcontractors to identify commercial issues and extend scheduled completion dates; ƒ FGL forecast that they will be able to meaningfully update the market during the week beginning Monday, 25 November 2013 and intend to remain in voluntary suspension of trading until that time. FGL issued an announcement stating the following: ƒ $127m profit write down in FY2014 associated with the Diamantina Power Station and West Angelas power Station projects; ƒ $45m net cash outlay required to complete both projects; ƒ Net Cash outflow’s expected in November and December 2013, resulting in a challenging liquidity position in early December 2013; ƒ ANZ has agreed to provide further support to Forge Group through new facilities and certain amendments to existing debt facilities; ƒ The ANZ debt facilities amendments will provide sufficient facilities to cover the liquidity challenges and strengthen Forge Group’s balance sheet; ƒ Allows FGL to continue trading on a business as usual basis, deliver its current work in hand and bid new work; and

Date

4 December 2013

17 December 2013

27 December 2013

30 December 2013

6 January 2014 10 January 2014

24 January 2014

29 January 2014

3 February 2014

11 February 2014

Event ƒ Forge Group requests the ASX lifts the voluntary suspension of its shares. The request by the Company to end the trading halt was granted. FGL issues a response following an ASX query, from 29 November 2013. The ASX query focuses on when the management of Forge first became aware of a write down in its Financial Year Ending 2014 profit of $127m. FGL’s response stated that they had first become aware of possible issues with two of its major projects, being Diamantina Power Station (DPS) in Mt Isa, and West Angelas Power Station (WAPS) in the Pilbara region in late September 2013, following a monthly financial project review. At this review it was identified that there was significant risk that both DPS and WAPS would suffer margin erosions due to cost overruns and delays. Management advised that they took immediate action to identify the impact of these risks including commencing a re-forecast of costs to complete the projects and negotiating with the customers and subcontractors working on the projects. Both the re-forecast and negotiations were complex undertakings, and required significant work from the management team between late September and late October 2013. At the end of the negotiations, on Friday, 1 November 2013, management concluded that a material profit write down was expected for the DPS and WAPS projects. On Monday, 4 November 2013 management requested a trading halt with the ASX, however at that point in time, the quantum of the write down had not yet been fully clarify the state of the projects. The trading halt was therefore required in order to clarify this position. Forge Group announce that they have been awarded $40m in new Asset Management works in the North America coal sector. FGL respond to price query from the ASX advising that they are not aware of any information concerning it that has not been announced to the market, which could explain the recent trading in its securities and price jumps from $0.71 on Tuesday, 24 December 2013 to $0.995 on Friday, 27 December 2013. FGL confirms that they have been given formal notification to commence Phase 3 works for the Roy Hill iron ore mine. FGL respond to price query from the ASX advising that they are not aware of any information concerning it that has not been announced to the market, which could explain the recent trading in its securities, and price jump from $1.02 on Friday, 27 January 2013 to $1.87 on Monday, 30 December 2013. BlackRock Institutional Trust sells off 1,340,443 shares. FGL sought and were granted an ASX Trading Halt, pending an announcement to provide a material update on the financial position of Forge Group. Trading halt is expected to be in place until Tuesday, 14 January 2014. FGL sought and were granted an ASX Trading Halt, pending an announcement of an update on the forecast underlying earnings for the financial year ending 30 June 2014. Trading halt is expected to be in place until Wednesday, 29 January 2014. FGL announce a pro-forma FY2014 EBITDA loss expected to be between $20m to $25m. FGL qualified this by confirming that they had continued financing support from the ANZ. FGL issue a response following an “ASX aware query” issued on 30 January 2014. The response outlines that the Directors became aware of the write down in forecast underlying earnings, after close of trading on 23 January 2014 following on from a two day review of the Company’s projects. Financier’s ANZ withdraw support for the Company. FGL sought and were granted an ASX “Trading Halt” following the withdrawal of the banks support. Martin Jones, Andrew Saker and Ben Johnson were appointed as Administrators over the entities. Secured creditor appoints Receivers and Managers who take control of the business, books and records over 6 entities within the FGL Companies.

Annexure 3 Summary of Directors

Summary of Directors Company

Director

Director

Company Secretary

Director

Director

Director

Director

-

-

-

Glen Andrew Smith

Alanthus Nominees Pty Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

Energy Maintenance Partners Pty Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

-

-

-

Glen Andrew Smith

Forge Group Asset Management Pty Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

-

-

-

Glen Andrew Smith

Forge Group Construction Pty Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

-

-

-

Glen Andrew Smith

Forge Group Ltd

David Anthony Craig

Gregory Knowles Kempton

David Michael Simpson

John Peter O'Connor

Grahame Oliver White

Julie Patricia Beeby

Glen Andrew Smith

Forge Group Minerals & Resources Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

-

-

-

Glen Andrew Smith

Forge Group Power Pty Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

-

-

-

Glen Andrew Smith

Forge International Pty Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

-

-

-

Glen Andrew Smith

Cimeco Pty Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

-

-

-

Glen Andrew Smith

CTEC Pty Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

-

-

-

Glen Andrew Smith

Abesque Engineering Pty Ltd

Donald James Montgomery

Mark James Rankmore

David Michael Simpson

-

-

-

Glen Andrew Smith

Annexure 4 Summary of PPSA Registrations

SECURITY INTERESTS REGISTERED ON THE PERSONAL PROPERTY SECURITY REGISTER AGAINST THE RESPECTIVE COMPANIES AS AT 11 FEBRUARY 2014

Registration Number 201203290117309

PMSI Yes

Transitional No

Migrated No

Collateral Class Motor vehicle

Registration Start Date 29/03/2012

201309060026961

Yes

No

No

Other goods

6/09/2013

201309060027821

Yes

No

No

Motor vehicle

6/09/2013

Collateral Class ALLPAAP - No exceptions Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Other goods Motor vehicle Motor vehicle Motor vehicle Other goods Other goods Other goods Other goods Other goods Motor vehicle Intangible property - Acco ALLPAAP - No exceptions Other goods Other goods Other goods Other goods Other goods Other goods Other goods Other goods Other goods Other goods Other goods Other goods Other goods Other goods

Registration Start Date 30/01/2012 30/01/2012 30/01/2012 15/02/2012 15/02/2012 15/02/2012 15/02/2012 15/02/2012 14/03/2012 20/09/2012 30/11/2012 20/02/2013 22/03/2013 9/05/2013 9/05/2013 20/05/2013 20/05/2013 27/05/2013 6/06/2013 2/07/2013 2/07/2013 18/07/2013 19/08/2013 22/08/2013 22/08/2013 22/08/2013 26/08/2013 13/09/2013 30/09/2013 4/11/2013 4/11/2013 6/11/2013 6/11/2013 29/11/2013 3/12/2013

ANZ FIDUCIARY SERVICES PTY LTD ATCO STRUCTURES & LOGISTICS PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD MINEWORKS GROUP PTY LTD GCS SECURITY SCAFFOLDING PTY LTD COASTAL HIRE PTY LTD GCS RAPID ACCESS PTY LTD GCS ACCESS PTY LTD BFA INVESTMENTS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GCS BUDGET PORTABLES PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GLOBAL CONSTRUCTION SERVICES LIMITED GCS INDUSTRIAL SERVICES PTY LTD GCS HIRE PTY LTD GCS CONCRETE PUMPING PTY LTD GCS SECURITY SCAFFOLDING PTY LTD COASTAL HIRE PTY LTD GCS RAPID ACCESS PTY LTD GCS ACCESS PTY LTD BFA INVESTMENTS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GCS BUDGET PORTABLES PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GLOBAL CONSTRUCTION SERVICES LIMITED GCS INDUSTRIAL SERVICES PTY LTD GCS HIRE PTY LTD GCS CONCRETE PUMPING PTY LTD GCS SECURITY SCAFFOLDING PTY LTD COASTAL HIRE PTY LTD GCS RAPID ACCESS PTY LTD GCS ACCESS PTY LTD BFA INVESTMENTS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GCS BUDGET PORTABLES PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GLOBAL CONSTRUCTION SERVICES LIMITED GCS INDUSTRIAL SERVICES PTY LTD GCS HIRE PTY LTD GCS CONCRETE PUMPING PTY LTD GCS SECURITY SCAFFOLDING PTY LTD COASTAL HIRE PTY LTD GCS RAPID ACCESS PTY LTD GCS ACCESS PTY LTD BFA INVESTMENTS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GCS BUDGET PORTABLES PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GLOBAL CONSTRUCTION SERVICES LIMITED GCS INDUSTRIAL SERVICES PTY LTD GCS HIRE PTY LTD GCS CONCRETE PUMPING PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD

Registration Number 201112141841073 201112290312893 201201030126749 201202150046188 201202150046663 201202150047131 201202150048488 201202150048783 201203140016148 201209200070309 201211300042826 201302200006861 201303220022331 201305090026870 201305090026891 201305200010863 201305200010871 201305270006425 201306060037534 201307020066077 201307020066229 201307180023178 201308190037826 201308220042260 201308220042294 201308220042304 201308260028503 201309130073665 201309300060362 201311040004178 201311040004184 201311060008538 201311060008572 201311290077705 201312030028240

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Secured Parties

PMSI Transitional Migrated UNKNOWN Yes Yes - FIXED Yes Yes No Yes Yes No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No UNKNOWN No No UNKNOWN No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No Yes No No

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Migrated

Collateral Class

Registration Start Date

No creditors on record

Abesque Engineering Pty Ltd - Grantor Organisation Identifier Type: ACN 161 511 931 Secured Parties

Registration Number

PMSI

Transitional

No creditors on record

Abesque Engineering Pty Ltd- Grantor Organisation Identifier Type: NAME ABESQUE ENGINEERING PTY LTD Secured Parties

Forge Group Ltd - Grantor Organisation Identifier Type: ACN 065 464 226 Secured Parties ESANDA FINANCE CORPORATION LIMITED MACQUARIE LEASING PTY LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD BOQ FINANCE (AUST) LIMITED FLEET PARTNERS PTY LIMITED FLEET PARTNERS PTY LIMITED FLEET PARTNERS PTY LIMITED RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD RICOH AUSTRALIA PTY LTD LIFT EQUIPT PTY LTD AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

Secured Parties

Abesque Engineering Pty Ltd - Grantor Organisation Identifier Type: ABN 52 161 511 931

Forge Group Ltd - Grantor Organisation Identifier Type: ABN 58 065 464 226 Secured Parties BMW AUSTRALIA FINANCE LIMITED The Trustee for THE FARGO UNIT TRUST FARGO INVESTMENTS PTY LTD The Trustee for THE FARGO UNIT TRUST FARGO INVESTMENTS PTY LTD

Forge Group Ltd - Grantor Organisation Identifier Type: NAME FORGE GROUP LTD No creditors on record

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Migrated

Collateral Class

Registration Start Date

Migrated NO

Collateral Class ALLPAAP - No exceptions

Registration Start Date 2/07/2013

No creditors on record

Alanthus Nominees Pty Ltd - Grantor Organisation Identifier Type: ABN 66 112 996 746 Secured Parties

Registration Number

PMSI

Transitional

No creditors on record

Alanthus Nominees Pty Ltd - Grantor Organisation Identifier Type: ACN 112 996 746 Secured Parties ANZ FIDUCIARY SERVICES PTY LTD

Registration Number 201307020066792

PMSI UNKOWN

Transitional NO

Alanthus Nominees Pty Ltd - Grantor Organisation Identifier Type: NAME ALANTHUS NOMINEES PTY LTD Secured Parties ANZ FIDUCIARY SERVICES PTY LTD

Registration Number 201307020066792

PMSI UNKOWN

Transitional NO

Migrated NO

Collateral Class ALLPAAP - No exceptions

Registration Start Date 2/07/2013

Transitional

Migrated

Collateral Class

Registration Start Date

Transitional

Migrated

Collateral Class

Registration Start Date

Transitional

Migrated

Collateral Class

Registration Start Date

PMSI YES YES

Transitional NO NO

Migrated NO NO

Collateral Class Motor vehicle Motor vehicle

Registration Start Date 11/02/2014 11/02/2014

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Transitional

Migrated

Collateral Class

Registration Start Date

Collateral Class

Registration Start Date

Collateral Class

Registration Start Date

Cimeco Pty Ltd - Grantor Organisation Identifier Type: ABN 34 161 511 477 Secured Parties

Registration Number

PMSI

No creditors on record

Cimeco Pty Ltd - Grantor Organisation Identifier Type: ACN 161 511 477 Secured Parties

Registration Number

PMSI

No creditors on record

Cimeco Pty Ltd - Grantor Organisation Identifier Type: NAME CIMECO PTY LTD Secured Parties

Registration Number

PMSI

No creditors on record

CTEC Pty Ltd - Grantor Organisation Identifier Type: ABN 32 161 511 468 Secured Parties S. V. HAOUST PTY LTD S. V. HAOUST PTY LTD

Registration Number 201402110067559 201402110067867

CTEC Pty Ltd - Grantor Organisation Identifier Type: ACN 161 511 468 Secured Parties

Registration Number

No creditors on record

CTEC Pty Ltd - Grantor Organisation Identifier Type: NAME CTEC PTY LTD Secured Parties

Registration Number

PMSI

No creditors on record

Energy Maintenance Partners Pty Ltd - Grantor Organisation Identifier Type: ABN 30 147 111 215 Secured Parties

Registration Number

PMSI

Transitional

Migrated

No creditors on record

Energy Maintenance Partners Pty Ltd - Grantor Organisation Identifier Type: ACN 147 111 215 Secured Parties

Registration Number

PMSI

Transitional

Migrated

No creditors on record

Energy Maintenance Partners Pty Ltd - Grantor Organisation Identifier Type: NAME ENERGY MAINTENANCE PARTNERS PTY LTD Secured Parties

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Collateral Class

Registration Start Date

No creditors on record 201312070034497

Yes

Yes

No

Other goods

7/12/2013

Forge Group Asset Management Pty Ltd - Grantor Organisation Identifier Type: ABN 36 161 511 486 Secured Parties No creditors on record

201312070034736

Yes

Yes

No

Other goods

7/12/2013

201312070034840

Yes

Yes

No

Motor vehicle

7/12/2013

201312070034974

Yes

Yes

No

Motor vehicle

7/12/2013

201312130024423 201312130024508

Yes Yes

No No

No No

Other goods Other goods

13/12/2013 13/12/2013

Registration Number

PMSI

Transitional

Migrated

Forge Group Asset Management Pty Ltd - Grantor Organisation Identifier Type: ACN 161 511 486 Secured Parties ANZ FIDUCIARY SERVICES PTY LTD FLEET PARTNERS PTY LIMITED ACCESS SERVICES GROUP PTY LTD ACCESS HIRE QUEENSLAND PTY LTD ACCESS EQUIPMENT HIRE AUSTRALIA PTY LTD ACCESS HIRE SOUTH AUSTRALIA PTY LTD ACCESS RENTALS AUSTRALIA PTY LTD ACCESS HIRE AUSTRALIA PTY LTD ACCESS SERVICES GROUP PTY LTD ACCESS HIRE QUEENSLAND PTY LTD ACCESS EQUIPMENT HIRE AUSTRALIA PTY LTD ACCESS HIRE SOUTH AUSTRALIA PTY LTD ACCESS RENTALS AUSTRALIA PTY LTD ACCESS HIRE AUSTRALIA PTY LTD R. & L. BAXTER NOMINEES PTY LTD ESCO AUSTRALIA HOLDINGS PTY LIMITED ORRCON OPERATIONS PTY LTD COVENTRY GROUP LIMITED BOC LIMITED ARRIUM LIMITED ONESTEEL TRADING PTY LIMITED ONESTEEL REINFORCING PTY LIMITED ONESTEEL COIL COATERS PTY LTD ONESTEEL RECYCLING PTY LIMITED

Registration Number 201307020066645 201307250059340

201307310062857

PMSI Transitional UNKNOWN No Yes No

Yes

No

Forge Group Construction Pty Ltd - Grantor Organisation Identifier Type: ACN 114 897 728

Migrated No No

Collateral Class ALLPAAP - No exceptions Motor vehicle

Registration Start Date 2/07/2013 25/07/2013

No

Motor vehicle

31/07/2013

201307310062971

Yes

No

No

Other goods

31/07/2013

201308070036066 201309030054599 201309050070869 201309130025284 201309200012955

Yes Yes No Yes Yes

No No No No No

No No No No No

Other goods Other goods Other goods Other goods Other goods

7/08/2013 3/09/2013 5/09/2013 13/09/2013 20/09/2013

201310240048242

Yes

No

No

Other goods

24/10/2013

THE AUSTRALIAN STEEL COMPANY (OPERATIONS) PTY LTD ONESTEEL MANUFACTURING PTY LIMITED ONESTEEL WIRE PTY LIMITED ONESTEEL NSW PTY LIMITED ONESTEEL AUSTRALIAN TUBE MILLS PTY LIMITED COMMONWEALTH STEEL COMPANY PTY LIMITED LITESTEEL TECHNOLOGIES PTY LTD SOUTHERN IRON PTY LTD CENTRAL IRON PTY LTD WHYALLA PORTS PTY LTD WACO KWIKFORM LIMITED FERO REINFORCING PTY LTD FERO STRATA SYSTEMS PTY LTD FERO GROUP PTY LTD FERO GROUP (QUEENSLAND) PTY LTD FERO REINFORCING PTY LTD FERO STRATA SYSTEMS PTY LTD FERO GROUP PTY LTD FERO GROUP (QUEENSLAND) PTY LTD FERROCUT AUSTRALIA PTY LIMITED RJE PTY LIMITED SOUTHERN STEEL (WA) PTY LIMITED

201311070046357

Yes

No

No

Other goods

7/11/2013

201311130076371

Yes

No

No

Other goods

13/11/2013

201311130076448

Yes

No

No

Other goods

13/11/2013

201311280018527

Yes

No

No

Other goods

28/11/2013

AUSTRALIAN ROLLFORMING MANUFACTURERS PTY LIMITED ROLLPRESS PROPLATE GROUP PTY LIMITED STEELPIPES PTY LIMITED BRICE METALS AUSTRALIA PTY LIMITED SOUTHERN SHEET & COIL PTY LTD SOUTHERN STEEL SUPPLIES PTY LTD SOUTHERN STEEL GROUP PTY. LIMITED SURDEX STEEL PTY. LIMITED SOUTHERN QUEENSLAND STEEL PTY LIMITED SOUTHERN STEEL CASH & CARRY PTY. LIMITED

Forge Group Asset Management Pty Ltd - Grantor Organisation Identifier Type: NAME FORGE GROUP ASSET MANAGEMENT PTY LTD Secured Parties

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Collateral Class Motor vehicle Motor vehicle Other goods Other goods Other goods Motor vehicle Motor vehicle

Registration Start Date 10/10/2012 10/10/2012 29/11/2012 4/02/2013 2/04/2013 17/05/2013 5/07/2013 6/09/2013

No creditors on record

Forge Group Construction Pty Ltd - Grantor Organisation Identifier Type: ABN 44 114 897 728 Secured Parties FORK FORCE AUSTRALIA PTY LTD FORK FORCE AUSTRALIA PTY LTD AIR LIQUIDE W.A. PTY LTD FREO GROUP LIMITED SCHNEIDER ELECTRIC (AUSTRALIA) PTY LIMITED JONDAY HOLDINGS PTY. LTD. SEANALISA HOLDINGS PTY LTD The Trustee for THE FARGO UNIT TRUST FARGO INVESTMENTS PTY LTD The Trustee for THE FARGO UNIT TRUST FARGO INVESTMENTS PTY LTD MURPHYS SPRAY AND BLAST EQUIPMENT PTY LTD MURPHYS SPRAY AND BLAST EQUIPMENT PTY LTD SEANALISA HOLDINGS PTY LTD

Registration Number 201210100077330 201210100078677 201211290105617 201302040064107 201304020031697 201305170009216 201307050042898

PMSI Yes Yes Yes Yes Yes Yes No

Transitional Yes No Yes No Yes No No

Migrated No No No No No No No

201309060026961

Yes

No

No

Other godds

201309060027821

Yes

No

No

Motor vehicle

6/09/2013

201310300072527 201310300072710 201401310401480

Yes Yes Yes

No Yes No

No No No

Other goods Other goods Motor vehicle

30/10/2013 30/10/2013 31/01/2014

Secured Parties DM BREAKER EQUIPMENT PTY LTD NOVATEC (QLD) PTY LTD JACKS WINCHES PTY LTD DM BREAKER EQUIPMENT PTY LTD NOVATEC (WA) PTY LTD BALUSTRADING WA PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust KEE HIRE PTY LTD ESANDA FINANCE CORPORATION LIMITED WESTPAC BANKING CORPORATION ANZ FIDUCIARY SERVICES PTY LTD GLOBAL CONSTRUCTION SERVICES LIMITED COATES HIRE OPERATIONS PTY LIMITED MACQUARIE LEASING PTY LTD WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION NATIONAL AUSTRALIA BANK LIMITED COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA SIMMCAL PTY LTD SIMMCAL PTY LTD AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED COMMONWEALTH BANK OF AUSTRALIA AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION FORCE CORP PTY LTD FORCE CORP PTY LTD FLEET PARTNERS PTY LIMITED TADANO OCEANIA PTY LTD TADANO OCEANIA PTY LTD FLEET PARTNERS PTY LIMITED PERTH FORK TRUCKS PTY LTD WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION COMMONWEALTH BANK OF AUSTRALIA TITAN PLANT HIRE PTY LTD FLEET PARTNERS PTY LIMITED COMMONWEALTH BANK OF AUSTRALIA TITAN PLANT HIRE PTY LTD RONLIEEH PTY LTD FLEET PARTNERS PTY LIMITED UNITED EQUIPMENT PTY LIMITED FLEET PARTNERS PTY LIMITED BROOKS HIRE SERVICE PTY LTD COMMONWEALTH BANK OF AUSTRALIA TRU BLU HIRE AUSTRALIA PTY LTD STL HOLDINGS PTY LTD TOYOTA FINANCE AUSTRALIA LTD COMMONWEALTH BANK OF AUSTRALIA UNITED EQUIPMENT PTY LIMITED UNITED EQUIPMENT PTY LIMITED COMMONWEALTH BANK OF AUSTRALIA FLEET PARTNERS PTY LIMITED CS CIVIL CONSTRUCTION PTY LTD CS CIVIL CONSTRUCTION PTY LTD CS CIVIL CONSTRUCTION PTY LTD CENTRAL SYSTEMS PTY LTD CENTRAL SYSTEMS PTY LTD CENTRAL SYSTEMS PTY LTD CENTRAL SYSTEMS PTY LTD CENTRAL SYSTEMS PTY LTD CENTRAL SYSTEMS PTY LTD COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA

Registration Number 201401230083583 201303080038276 201401230120180 201401230091141 201303080040787 201209200076964

PMSI Transitional Not Provided Yes No Yes No No No Yes No Yes Yes Yes

Migrated No No No No No No

Collateral Class All PAAP Other Goods Other Goods Other Goods Other Goods Other Goods

Registration Start Date 23/01/2014 8/03/2013 23/01/2014 23/01/2014 8/03/2013 20/09/2012

201310290030209

Yes

No

No

Motor Vehicle

29/10/2013

201112131177803 201112211053509 201307020066524 201311150040297 201112202159073 201112290287133 201201100424648 201201100425620 201201100427155 201201100427223 201201100427275 201201100427313 201201100427366 201202080220747 201202130085619 201202130085688 201202130085707 201202140265481 201202140285433 201202140285763 201202270024892 201202270025007 201203050015884 201203120027460 201203120073934 201203120073947 201203120073952 201203120073975 201203120073981 201203120074012 201203120074031 201203120074065 201203120074077 201203120074083 201203120074106 201203120074123 201203260112297 201203260112307 201204200031216 201204200032085 201204200032092 201205100081181 201205100081199 201205110041695 201205110041837 201205110044562 201205110044673 201205180064539 201205180064560 201205230062779 201206040012559 201206040013874 201206050035789 201208110007559 201208160099449 201208160099454 201208160099918 201208160099925 201208160100003 201208160100019 201208310067571 201209030085301 201209070009651 201209130053510 201210030028858 201210180061231 201211140013127 201211270076430 201301020003112 201301070053573 201301140057096 201301160042955 201301230053802 201301240071366 201302270046166 201302270063858 201302270063862 201304090010640 201304150066524 201304170068917 201304170069209 201304170069444 201304170069975 201304170070174 201304170070249 201304170070265 201304170070277 201304170070296 201304230035942 201304230035957 201304230035961 201304230035988

Not Provided Not Provided Not Provided No Yes Yes No No No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Yes Yes No No Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No Yes No No No No No No No No No No No No No No No No No No No Yes No No No No No No No No No No No No No No No No No No No No

Yes Yes No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

All PAAP All PAAP All PAAP General Intangible Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle

30/01/2012 30/01/2012 2/07/2013 15/11/2013 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 8/02/2012 13/02/2012 13/02/2012 13/02/2012 14/02/2012 14/02/2012 14/02/2012 27/02/2012 27/02/2012 5/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 12/03/2012 26/03/2012 26/03/2012 20/04/2012 20/04/2012 20/04/2012 10/05/2012 10/05/2012 11/05/2012 11/05/2012 11/05/2012 11/05/2012 18/05/2012 18/05/2012 23/05/2012 4/06/2012 4/06/2012 5/06/2012 11/08/2012 16/08/2012 16/08/2012 16/08/2012 16/08/2012 16/08/2012 16/08/2012 31/08/2012 3/09/2012 7/09/2012 13/09/2012 3/10/2012 18/10/2012 14/11/2012 27/11/2012 2/01/2013 7/01/2013 14/01/2013 16/01/2013 23/01/2013 24/01/2013 27/02/2013 27/02/2013 27/02/2013 9/04/2013 15/04/2013 17/04/2013 17/04/2013 17/04/2013 17/04/2013 17/04/2013 17/04/2013 17/04/2013 17/04/2013 17/04/2013 23/04/2013 23/04/2013 23/04/2013 23/04/2013

Secured Parties COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA BROOKS HIRE SERVICE PTY LTD JONDAY HOLDINGS PTY. LTD. BROOKS HIRE SERVICE PTY LTD ACCESS EQUIPMENT HIRE AUSTRALIA PTY LTD ACCESS HIRE SOUTH AUSTRALIA PTY LTD ACCESS HIRE QUEENSLAND PTY LTD ACCESS SERVICES GROUP PTY LTD ACCESS RENTALS AUSTRALIA PTY LTD ACCESS HIRE AUSTRALIA PTY LTD BROOKS HIRE SERVICE PTY LTD TADANO OCEANIA PTY LTD BROOKS HIRE SERVICE PTY LTD GRAVITY CRANE SERVICES PTY LTD ENVIROCOAT (WA) PTY LTD ANZ FIDUCIARY SERVICES PTY LTD ANZ FIDUCIARY SERVICES PTY LTD ANZ FIDUCIARY SERVICES PTY LTD SARENS (AUSTRALIA) PTY LIMITED STL HOLDINGS PTY LTD BLACKJACK HOLDINGS PTY LTD, THE BLACKJACK TRUST THE BLACKJACK TRUST, BLACKJACK HOLDINGS PTY LTD BLACKJACK HOLDINGS PTY LTD, THE BLACKJACK TRUST BROOKS HIRE SERVICE PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD BROOKS HIRE SERVICE PTY LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIME DARBY FLEET SERVICES PTY LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD SIME DARBY FLEET SERVICES PTY LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD SIME DARBY FLEET SERVICES PTY LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD BROOKS HIRE SERVICE PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD TOYOTA FINANCE AUSTRALIA LTD AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD SIMMCAL PTY LTD BROGEN INVESTMENTS PTY LTD

Registration Number 201304230035990 201304230036008 201304240042315 201304240043603 201305010020545 201305020068572 201305170009216 201305240058674

201305270082670

201305310134287 201306180019157 201306190081509 201306210081866 201306240048916 201307020065727 201307020065817 201307020065919 201307170063015 201307240042758 201307270009515 201307270009734 201307270010326 201308150071406 201308160038422 201309040056956 201309050089249 201309050093581 201309090003424 201309090104306 201309130063226 201309130063392 201309130079522 201309130079546 201309130079551 201309130079579 201309130079580 201309130079607 201309130079611 201309130079630 201309160068991 201309170051582 201309170066355 201309170066364 201309170066477 201309180024441 201309180028556 201310020032625 201310020045544 201310020049359 201310020059973 201310020060040 201310020062358 201310030011883 201310090051060 201310090051808 201310150029350 201310240017751 201310240018893 201310280027762 201310310138671 201310310140270 201310310147646 201310310147842 201310310148805 201311040028175 201311040028240 201311040036210 201311140041514 201311210030211 201311250023756 201311250023773 201311260075155 201311260075206 201311260075210 201311260075247 201311260075299 201311270051909 201311270051950 201311270052069 201311270052151 201311270052263 201311270052356 201311270052466 201311270052523 201311270052677 201311270053574 201311270053686 201311270053767 201311270053877 201311270053999 201311270055738

PMSI Yes Yes Yes Yes Yes Yes Yes Yes

Yes

Yes Yes Yes Yes Yes No No No No Yes Yes Yes Yes Yes No No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Transitional No No No No No No No No

No

No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Migrated No No No No No No No No

No

No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Collateral Class Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle

Motor Vehicle

Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle

Registration Start Date 23/04/2013 23/04/2013 24/04/2013 24/04/2013 1/05/2013 2/05/2013 17/05/2013 24/05/2013

27/05/2013

31/05/2013 18/06/2013 19/06/2013 21/06/2013 24/06/2013 2/07/2013 2/07/2013 2/07/2013 17/07/2013 24/07/2013 27/07/2013 27/07/2013 27/07/2013 15/08/2013 16/08/2013 4/09/2013 5/09/2013 5/09/2013 9/09/2013 9/09/2013 13/09/2013 13/09/2013 13/09/2013 13/09/2013 13/09/2013 13/09/2013 13/09/2013 13/09/2013 13/09/2013 13/09/2013 16/09/2013 17/09/2013 17/09/2013 17/09/2013 17/09/2013 18/09/2013 18/09/2013 2/10/2013 2/10/2013 2/10/2013 2/10/2013 2/10/2013 2/10/2013 3/10/2013 9/10/2013 9/10/2013 15/10/2013 24/10/2013 24/10/2013 28/10/2013 31/10/2013 31/10/2013 31/10/2013 31/10/2013 31/10/2013 4/11/2013 4/11/2013 4/11/2013 14/11/2013 21/11/2013 25/11/2013 25/11/2013 26/11/2013 26/11/2013 26/11/2013 26/11/2013 26/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013 27/11/2013

Secured Parties Registration Number KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270056300 Antonia Spiers Family Trust KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270056316 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270056328 KEE HIRE PTY LTD BROGEN INVESTMENTS PTY LTD 201311270056371 THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270057142 KEE HIRE PTY LTD SIMMCAL PTY LTD 201311270061413 KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270066191 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270066209 KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270066213 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270066221 KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270066232 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270066245 KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270066250 KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270066266 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270066278 KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270066284 Antonia Spiers Family Trust KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270067068 Antonia Spiers Family Trust KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270067075 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Anto 201311270067081 KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270067099 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270067109 KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270067113 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270067580 KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270067598 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust 201311270067607 KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270067611 Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Anto 201311270067624 KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The 201311270067630 Antonia Spiers Family Trust BROGEN INVESTMENTS PTY LTD 201311270094022 SIME DARBY FLEET SERVICES PTY LTD 201311290127562 BLACKJACK HOLDINGS PTY LTD, THE BLACKJACK TRUST 201312040034920 THE BLACKJACK TRUST, BLACKJACK HOLDINGS PTY LTD 201312040035026 KENNARDS HIRE PTY LIMITED 201312040045709 SIME DARBY FLEET SERVICES PTY LTD 201312040066900 SIME DARBY FLEET SERVICES PTY LTD 201312040066916 SIME DARBY FLEET SERVICES PTY LTD 201312040066928 SIME DARBY FLEET SERVICES PTY LTD 201312040066937 SIME DARBY FLEET SERVICES PTY LTD 201312040067037 TUTT BRYANT GROUP LIMITED 201312060033806 TUTT BRYANT GROUP LIMITED 201312060033966

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes

No

No

Motor Vehicle

27/11/2013

Yes No Yes Yes Yes No No No No No Yes Yes

No No No No No No No No No No No No

No No No No No No No No No No No No

Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle

27/11/2013 29/11/2013 4/12/2013 4/12/2013 4/12/2013 4/12/2013 4/12/2013 4/12/2013 4/12/2013 4/12/2013 6/12/2013 6/12/2013

Secured Parties GCS BUDGET PORTABLES PTY LTD GLOBAL CONSTRUCTION SERVICES LIMITED BFA INVESTMENTS PTY LTD GCS SECURITY SCAFFOLDING PTY LTD GCS HIRE PTY LTD GCS RAPID ACCESS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GCS INDUSTRIAL SERVICES PTY LTD GCS CONCRETE PUMPING PTY LTD COASTAL HIRE PTY LTD GCS ACCESS PTY LTD GCS BUDGET PORTABLES PTY LTD GLOBAL CONSTRUCTION SERVICES LIMITED BFA INVESTMENTS PTY LTD GCS SECURITY SCAFFOLDING PTY LTD GCS HIRE PTY LTD GCS RAPID ACCESS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GCS INDUSTRIAL SERVICES PTY LTD GCS CONCRETE PUMPING PTY LTD COASTAL HIRE PTY LTD GCS ACCESS PTY LTD BROGEN INVESTMENTS PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIMMCAL PTY LTD BROGEN INVESTMENTS PTY LTD NATIONAL CRANE HIRE PTY LTD BLACKJACK HOLDINGS PTY LTD, THE BLACKJACK TRUST WOLNAN PTY. LTD. WOLNAN PTY. LTD. BROGEN INVESTMENTS PTY LTD BT EQUIPMENT PTY LTD BT EQUIPMENT PTY LTD BROGEN INVESTMENTS PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD SIME DARBY FLEET SERVICES PTY LTD TOYOTA FINANCE AUSTRALIA LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIMMCAL PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust KEE HIRE PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust KEE HIRE PTY LTD BROOKS HIRE SERVICE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust KEE HIRE PTY LTD

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

201312070034506

Yes

Yes

No

Motor Vehicle

7/12/2013

201312070034654

Yes

Yes

No

Motor Vehicle

7/12/2013

201312100071062 201312120028221 201312120028245 201312120028284 201312120028492 201312150000816 201312160086628 201312170031515 201312170056888 201312170068754 201312170071645 201312180086096 201312180096439 201312180096441 201312190055102 201312200054036 201312200054091 201312200054138 201312200054210 201312200054313 201312200054494 201312230045055 201312230054019 201312230056161 201312230056914 201312240051680 201312310041881 201401090046177 201401090046363 201401090046407 201401090115264 201401100073467

Yes No No No No Yes Yes No Yes Yes Yes Yes No No Yes No No No No No No Yes Yes Yes Yes No Yes No No No No Yes

No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle

10/12/2013 12/12/2013 12/12/2013 12/12/2013 12/12/2013 15/12/2013 16/12/2013 17/12/2013 17/12/2013 17/12/2013 17/12/2013 18/12/2013 18/12/2013 18/12/2013 19/12/2013 20/12/2013 20/12/2013 20/12/2013 20/12/2013 20/12/2013 20/12/2013 23/12/2013 23/12/2013 23/12/2013 23/12/2013 24/12/2013 31/12/2013 9/01/2014 9/01/2014 9/01/2014 9/01/2014 10/01/2014

201401130036598

Yes

No

No

Motor Vehicle

13/01/2014

201401130036607

Yes

No

No

Motor Vehicle

13/01/2014

201401130036611

Yes

No

No

Motor Vehicle

13/01/2014

201401130036624

Yes

No

No

Motor Vehicle

13/01/2014

201401130036630

Yes

No

No

Motor Vehicle

13/01/2014

201401130036648

Yes

No

No

Motor Vehicle

13/01/2014

201401130036653

Yes

No

No

Motor Vehicle

13/01/2014

201401130036669

Yes

No

No

Motor Vehicle

13/01/2014

201401130036676

Yes

No

No

Motor Vehicle

13/01/2014

201401140091310

Yes

No

No

Motor Vehicle

14/01/2014

201401140111378

Yes

No

No

Motor Vehicle

14/01/2014

Secured Parties PERTH FORK TRUCKS PTY LTD PERTH FORK TRUCKS PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD BROOKS HIRE SERVICE PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD BROGEN INVESTMENTS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD SIME DARBY FLEET SERVICES PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD TITAN PLANT HIRE PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD SIME DARBY FLEET SERVICES PTY LTD KEE HIRE PTY LTD THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust KEE HIRE PTY LTD SIME DARBY FLEET SERVICES PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD KELBUSH PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD STL HOLDINGS PTY LTD SIMMCAL PTY LTD BLACKJACK HOLDINGS PTY LTD, THE BLACKJACK TRUST THE TRUSTEE FOR THE E C SPIERS FAMILY TRUST & The Antonia Spiers Family Trust KEE HIRE PTY LTD ENERGY POWER SYSTEMS AUSTRALIA PTY. LIMITED. COATES HIRE OPERATIONS PTY LIMITED ROYAL WOLF TRADING AUSTRALIA PTY LIMITED GENERAL CABLE AUSTRALIA PTY LTD ACO POLYCRETE PTY LTD KENNARDS HIRE PTY LIMITED HILTI (AUST.) PTY. LTD. ALUMINIUM SPECIALTIES GROUP PTY. LTD. LAMINEX GROUP PTY LIMITED WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION WESTPAC BANKING CORPORATION

Registration Number 201401160111477 201401160111522 201401220027042 201401220027074 201401220027090 201401220027331 201401220027377 201401220027401 201401220027504 201401220027591 201401220027687 201401220027768 201401220028737 201401220029379 201401220035765 201401230114317 201401230117299 201401230119208 201401230119436 201401230119637 201401230119933 201401230120011 201401230120244 201401230120421 201401230120612 201401230120872 201401230121052 201401240048683 201401240190019 201401240190907 201401240192393 201401240193347 201401240194133 201401280125128 201401280125396 201401280125440 201401300454492 201402060027459 201402060027463 201402060027471

PMSI No No No No No No No No No No No No No No No Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes No No No Yes No No No

Transitional No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

201402060029571

Yes

Yes

201402060030900

Yes

No

201402070055854 201402100038123 201402100038507 201402100039810 201402100040365 201402100040641 201402100040821 201402100041117 201402100041321 201402100041674 201402100041814 201402100041977 201402100042197 201402100042454 201402100043029 201402100043381 201402100043732 201402100043998 201402100044552 201402100052288 201402100057043 201402100057299 201402100057460 201402100059086 201402100059220 201402100059443 201402100060023 201402100060317 201402100060496 201402100060676 201402100060859 201402100061521 201402100061675 201402100061858 201402110037165 201402110037203 201402110037316 201402110037392 201402110038978 201402110042136

No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

201402110042640

Yes

201402110047904 201112202159189 201112203299426 201112203479447 201112230912016 201201051375612 201201051481948 201201080049376 201201080296560 201201100481347 201201100481381 201201100482785

Yes Yes Yes Yes No Yes Yes Yes Yes No No No

Migrated No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Collateral Class Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle

Registration Start Date 16/01/2014 16/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 22/01/2014 23/01/2014 23/01/2014 23/01/2014 23/01/2014 23/01/2014 23/01/2014 23/01/2014 23/01/2014 23/01/2014 23/01/2014 23/01/2014 23/01/2014 24/01/2014 24/01/2014 24/01/2014 24/01/2014 24/01/2014 24/01/2014 28/01/2014 28/01/2014 28/01/2014 30/01/2014 6/02/2014 6/02/2014 6/02/2014

No

Motor Vehicle

6/02/2014

No

Motor Vehicle

6/02/2014

No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle Motor Vehicle

7/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 10/02/2014 11/02/2014 11/02/2014 11/02/2014 11/02/2014 11/02/2014 11/02/2014

No

No

Motor Vehicle

11/02/2014

No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

No No No No No No No No No No No No

Motor Vehicle Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods

11/02/2014 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012

Secured Parties ULTRAPLAST PTY LTD B P AUSTRALIA PTY LTD KORVEST LTD. FIELDERS AUSTRALIA PTY LTD PERI AUSTRALIA PTY LIMITED SANDVIK AUSTRALIA PTY LTD AUSCO MODULAR PTY LIMITED NATIONAL AUSTRALIA BANK LIMITED ATLAS SPECIALTY METALS PTY LTD HAFELE AUSTRALIA PTY. LTD. BLUESCOPE STEEL LIMITED THE TRUSTEE FOR HEBDEN (NO 2) FAMILY TRUST & THE TRUSTEE FOR KINDRED (NO 2) FAMILY TRUST Hebden Karratha Trust & Kindred Karratha Trust The Trustee For Gallagher Family Trust & The Trustee For the Hebden (No 1) Family Trust & The Trustee For the Kindred (No 1) Family Trust Karratha Trust & Kindred Karratha Trust THE TRUSTEE FOR HEBDEN FAMILY TRUST & THE TRUSTEE FOR KINDRED FAMILY TRUST THE TRUSTEE FOR HEBDEN FAMILY TRUST & THE TRUSTEE FOR KINDRED FAMILY TRUST GENSTAR SALES & ENGINEERING PTY LTD TURTLEBAY CORPORATION PTY LTD TURTLEBAY CORPORATION PTY LTD THE TRUSTEE FOR HEBDEN (NO 2) FAMILY TRUST & THE TRUSTEE FOR KINDRED (NO 2) FAMILY TRUST GENSTAR SALES & ENGINEERING PTY LTD Hebden Karratha Trust & Kindred Karratha Trust The Trustee For Gallagher Family Trust & The Trustee For the Hebden (No 1) Family Trust & The Trustee For the Kindred (No 1) Family Trust THE TRUSTEE FOR HEBDEN FAMILY TRUST & THE TRUSTEE FOR KINDRED FAMILY TRUST FUELFIX PTY LTD ULTIMATE DRAINAGE PTY LTD ULTIMATE DRAINAGE PTY LTD AKZO NOBEL PTY LIMITED COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA AUSCO MODULAR PTY LIMITED COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA BLUESCOPE DISTRIBUTION PTY LTD AIR LIQUIDE W.A. PTY LTD Hebden Karratha Trust & Kindred Karratha Trust GENSTAR SALES & ENGINEERING PTY LTD THE TRUSTEE FOR HEBDEN (NO 2) FAMILY TRUST & THE TRUSTEE FOR KINDRED (NO 2) FAMILY TRUST THE TRUSTEE FOR HEBDEN FAMILY TRUST & THE TRUSTEE FOR KINDRED FAMILY TRUST The Trustee For Gallagher Family Trust & The Trustee For the Hebden (No 1) Family Trust & The Trustee For the Kindred (No 1) Family Trust TURTLEBAY CORPORATION PTY LTD ULTIMATE DRAINAGE PTY LTD MAS AUSTRALASIA PTY LTD ONSITE RENTAL GROUP OPERATIONS PTY LTD REDSTAR EQUIPMENT PTY LTD ROYAL WOLF TRADING AUSTRALIA PTY LIMITED TYCO WATER PTY LTD MIDWAY METALS PTY LTD WESTPAC BANKING CORPORATION LIEBHERR-AUSTRALIA PTY. LTD. MAS AUSTRALASIA PTY LTD ATCO STRUCTURES & LOGISTICS PTY LTD WEG AUSTRALIA PTY. LTD. WEG AUSTRALIA PTY. LTD. VINIDEX PTY LIMITED TADANO OCEANIA PTY LTD TADANO OCEANIA PTY LTD BRADKEN RESOURCES PTY LIMITED GENERAL CABLE AUSTRALIA PTY LTD COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA

Registration Number 201201101048636 201201101155905 201201110513754 201201110518336 201201110656706 201201300046407 201202020156638 201202080071508 201202110038135 201202110108257 201202200030074

PMSI Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Transitional Yes Yes Yes Yes Yes Yes No No Yes Yes Yes

Migrated No No No No No No No No No No No

Collateral Class Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods

Registration Start Date 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 2/02/2012 8/02/2012 11/02/2012 11/02/2012 20/02/2012

201202210106675

No

No

No

Other Goods

21/02/2012

201202210106836

No

No

No

Other Goods

21/02/2012

201202220072260 201202270074873 201202270075111 201202270104891 201203080043535 201203080043542 201203080043557 201203090015319 201203190085784 201203190085811 201203200015215 201203200015270 201203200015329 201203200015340 201203200015386 201203200015454 201203200018255 201203200018264 201203200018286 201203210114396 201203220034625

Yes No No Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Yes No No No No No No Yes No No No No No No No No No No No Yes No

No No No No No No No No No No No No No No No No No No No No No

Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods

22/02/2012 27/02/2012 27/02/2012 27/02/2012 8/03/2012 8/03/2012 8/03/2012 9/03/2012 19/03/2012 19/03/2012 20/03/2012 20/03/2012 20/03/2012 20/03/2012 20/03/2012 20/03/2012 20/03/2012 20/03/2012 20/03/2012 21/03/2012 22/03/2012

201203230069447

No

No

No

Other Goods

23/03/2012

26/03/2012 26/03/2012

201203260103912 201203260125815

No Yes

No Yes

No No

Other Goods Other Goods

201203270080528

Yes

No

No

Other Goods

27/03/2012

201203280104488 201204120023509 201204190125013 201204240086149 201204240089845 201205020070823 201205140062734 201205180067012 201205180067390 201205220057262 201206040012313 201206040013475 201206050077568 201206100000875 201206120034271 201206120034285 201206120034292 201206120034302 201206120034325 201206120034339 201206120034356 201206120034360 201206120034373 201206120034394 201206120034413 201206120034421 201206120034445 201206150039071 201206150039102 201206150067148 201206150067153 201206150067169 201206150067176

Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

No Yes No No Yes No No No Yes No No Yes No No No No No No No No No No No No No No No No No No No No No

No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods

28/03/2012 12/04/2012 19/04/2012 24/04/2012 24/04/2012 2/05/2012 14/05/2012 18/05/2012 18/05/2012 22/05/2012 4/06/2012 4/06/2012 5/06/2012 10/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 12/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012

Secured Parties COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA WESTANKS AUSTRALIA PTY LTD GATIC PTY LIMITED KINGSTON BRIDGE ENGINEERING PTY LTD KINGSTON BRIDGE ENGINEERING PTY LTD GATIC PTY LIMITED COREGAS PTY LTD MEREDITH DISTRIBUTION PTY LTD J. BLACKWOOD & SON PTY LTD PROTECTOR ALSAFE PTY LTD BULLIVANTS PTY LIMITED LAWVALE PTY. LTD. ULTIMATE DRAINAGE PTY LTD ULTIMATE DRAINAGE PTY LTD REDSTAR EQUIPMENT PTY LTD ONSITE RENTAL GROUP OPERATIONS PTY LTD HOBSON ENGINEERING CO PTY LTD HOBSON ENGINEERING CO PTY LTD COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA RONLIEEH PTY LTD COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA FERO REINFORCING PTY LTD FERO STRATA SYSTEMS PTY LTD FERO GROUP (QUEENSLAND) PTY LTD FERO GROUP PTY LTD TRU BLU HIRE AUSTRALIA PTY LTD ORRCON OPERATIONS PTY LTD TOYOTA FINANCE AUSTRALIA LTD SULLAIR AUSTRALIA PTY LTD AGGREKO GENERATOR RENTALS PTY. LIMITED AUTOMOTIVE HOLDINGS GROUP LIMITED CS CIVIL CONSTRUCTION PTY LTD CENTRAL SYSTEMS PTY LTD AMITY PACIFIC PTY LTD ACCESS EQUIPMENT HIRE AUSTRALIA PTY LTD ACCESS SERVICES GROUP PTY LTD ACCESS HIRE QUEENSLAND PTY LTD ACCESS HIRE SOUTH AUSTRALIA PTY LTD ACCESS RENTALS AUSTRALIA PTY LTD ACCESS HIRE AUSTRALIA PTY LTD NATIONAL AUSTRALIA BANK LIMITED PFP (AUST) PTY LTD TADANO OCEANIA PTY LTD PERI AUSTRALIA PTY LIMITED DM BREAKER EQUIPMENT PTY LTD DM BREAKER EQUIPMENT PTY LTD B.L. SHIPWAY & CO PTY. LTD B.L. SHIPWAY & CO PTY. LTD COMMONWEALTH BANK OF AUSTRALIA HARSCO INFRASTRUCTURE (GLADSTONE) PTY LTD COMMONWEALTH BANK OF AUSTRALIA COMMONWEALTH BANK OF AUSTRALIA THE BLACKJACK TRUST, BLACKJACK HOLDINGS PTY LTD ENERGY POWER SYSTEMS AUSTRALIA PTY. LIMITED. BULLIVANTS PTY LIMITED ROCLA PTY LIMITED ESCO AUSTRALIA HOLDINGS PTY LIMITED TOYOTA FINANCE AUSTRALIA LTD COMMONWEALTH BANK OF AUSTRALIA FENCEWRIGHT PTY LTD STARCLIP ENTERPRISES PTY LTD TOYOTA FINANCE AUSTRALIA LTD GLOBAL CONSTRUCTION SERVICES LIMITED SEA CONTAINERS WA PTY LTD SEA CONTAINERS WA PTY LTD BROGEN INVESTMENTS PTY LTD COMPLETE HIRE & SALES PTY LTD KENNARDS HIRE PTY LIMITED COVENTRY GROUP LIMITED GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GCS HIRE PTY LTD GLOBAL CONSTRUCTION SERVICES LIMITED COASTAL HIRE PTY LTD GCS ACCESS PTY LTD GCS BUDGET PORTABLES PTY LTD BFA INVESTMENTS PTY LTD GCS INDUSTRIAL SERVICES PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GCS RAPID ACCESS PTY LTD GCS SECURITY SCAFFOLDING PTY LTD GCS CONCRETE PUMPING PTY LTD

Registration Number 201206150067182 201206150067195 201206150067202 201206150067225 201206150067239 201206150067260 201206150067273 201206150067294 201206150067304 201206150067315 201206150067343 201206150067358 201206150067362 201206150067370 201206150067391 201206150067410 201207090021689 201207260034476 201207260034804 201207260035178 201207260035925

PMSI Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Transitional No No No No No No No No No No No No No No No No No Yes No Yes No

Migrated No No No No No No No No No No No No No No No No No No No No No

Collateral Class Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods

Registration Start Date 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 15/06/2012 9/07/2012 26/07/2012 26/07/2012 26/07/2012 26/07/2012

201208100047440

No

No

No

Other Goods

10/08/2012

201208130044956 201208130045683

No No

No No

No No

Other Goods Other Goods

13/08/2012 13/08/2012

201208150028583

Yes

No

No

Other Goods

15/08/2012

201208160114536 201208160115492 201210110062222 201210110062267 201210180061119 201211020053581 201211020053620

Yes Yes Yes Yes Yes Yes Yes

No Yes No No No No No

No No No No No No No

Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods

16/08/2012 16/08/2012 11/10/2012 11/10/2012 18/10/2012 2/11/2012 2/11/2012

201301070059039

Yes

No

No

Other Goods

7/01/2013

201301160016597 201301210023991 201301240071378 201303180015780 201303240000824 201303250081773 201304170068815 201304170069968 201305070059711

Yes Yes Yes Yes Yes Yes Yes Yes Yes

Yes Yes No Yes No No No No No

No No No No No No No No No

Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods

16/01/2013 21/01/2013 24/01/2013 18/03/2013 24/03/2013 25/03/2013 17/04/2013 17/04/2013 7/05/2013

201305270082978

Yes

No

No

Other Goods

27/05/2013

201306060044192 201306140049367 201306180019161 201306180046598 201306230000871 201306230001986 201306280022253 201306280054499 201307080037086 201307170028273 201307240035373 201307240035770 201307270010405 201307300050306 201309020073136 201309030016450 201309030055326 201309050089254 201309260083117 201310100053470 201310250077059 201311040036223 201311150040143 201311260055446 201311260055684 201311270094014 201311280095334 201312040045663 201312050007889

Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes

No Yes No No Yes No No Yes No No No No No No No No No No No Yes No No No No Yes No No No No

No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods

6/06/2013 14/06/2013 18/06/2013 18/06/2013 23/06/2013 23/06/2013 28/06/2013 28/06/2013 8/07/2013 17/07/2013 24/07/2013 24/07/2013 27/07/2013 30/07/2013 2/09/2013 3/09/2013 3/09/2013 5/09/2013 26/09/2013 10/10/2013 25/10/2013 4/11/2013 15/11/2013 26/11/2013 26/11/2013 27/11/2013 28/11/2013 4/12/2013 5/12/2013

201312070034762

Yes

Yes

No

Other Goods

7/12/2013

Secured Parties GCS CONCRETE PUMPING PTY LTD GCS ACCESS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GLOBAL CONSTRUCTION SERVICES LIMITED COASTAL HIRE PTY LTD BFA INVESTMENTS PTY LTD GCS BUDGET PORTABLES PTY LTD GCS HIRE PTY LTD GCS SECURITY SCAFFOLDING PTY LTD GCS RAPID ACCESS PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GCS INDUSTRIAL SERVICES PTY LTD CNW PTY LTD PRESTIGE PUMP RENTALS PTY LTD The Trustee for PRESTIGE PUMP RENTALS UNIT TRUST AUTOMOTIVE HOLDINGS GROUP LIMITED METAL MANUFACTURES LIMITED ROCLA PTY LIMITED PR POWER PTY LTD PR POWER PTY LTD PR POWER PTY LTD PR POWER PTY LTD PR POWER PTY LTD XYLEM WATER SOLUTIONS AUSTRALIA LIMITED PRIME EQUIPMENT SALES/RENTALS PTY LTD PRIME EQUIPMENT SALES/RENTALS PTY LTD PRIME EQUIPMENT SALES/RENTALS PTY LTD PRIME EQUIPMENT SALES/RENTALS PTY LTD PRIME EQUIPMENT SALES/RENTALS PTY LTD PRIME EQUIPMENT SALES/RENTALS PTY LTD PRIME EQUIPMENT SALES/RENTALS PTY LTD PRIME EQUIPMENT SALES/RENTALS PTY LTD PRIME EQUIPMENT SALES/RENTALS PTY LTD KLINGER LIMITED BOC LIMITED NATIONAL TOOLS PTY LTD NATIONAL TOOLS PTY LTD CAPS AUSTRALIA PTY LTD KOUNIS METAL INDUSTRIES PTY. LTD. KOUNIS METAL INDUSTRIES PTY. LTD. COMPLETE HIRE & SALES PTY LTD ENERGY POWER SYSTEMS AUSTRALIA PTY. LIMITED. MINESITE MAINTENANCE PTY LTD

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

201312070035012

Yes

Yes

No

Other Goods

7/12/2013

201312090075196

Yes

Yes

No

Other Goods

9/12/2013

201312110000244

Yes

No

No

Other Goods

11/12/2013

201312130036673 201312190142223 201401080088908 201401130042521 201401130042532 201401130042545 201401130042550 201401130042566 201401200077183 201401240221833 201401240236998 201401240243855 201401240244882 201401240246091 201401240250505 201401240250514 201401240250522 201401240250533 201401290160270 201401290612893 201401310114831 201401310119829 201401310250559 201401310413233 201401310413280 201402110029087 201402110047915 201203020070639

Yes Yes Yes No No No No No Yes No No No No No No No No No Yes Yes Yes Yes Yes Yes Yes Yes Yes No

No Yes Yes No No No No No No No No No No No No No No No Yes Yes Yes No Yes Yes No No No Yes

No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Motor Vehicle

13/12/2013 19/12/2013 8/01/2014 13/01/2014 13/01/2014 13/01/2014 13/01/2014 13/01/2014 20/01/2014 24/01/2014 24/01/2014 24/01/2014 24/01/2014 24/01/2014 24/01/2014 24/01/2014 24/01/2014 24/01/2014 29/01/2014 29/01/2014 31/01/2014 31/01/2014 31/01/2014 31/01/2014 31/01/2014 11/02/2014 11/02/2014 2/03/2012

Forge Group Construction Pty Ltd - Grantor Organisation Identifier Type: NAME FORGE GROUP CONSTRUCTION PTY LTD Secured Parties

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Collateral Class Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle

Registration Start Date 2/03/2012 2/03/2012 2/03/2012 5/03/2012 5/03/2012 5/03/2012 5/03/2012 5/03/2012 5/03/2012 5/03/2012 21/03/2012 21/03/2012 21/03/2012 21/03/2012 21/03/2012 21/03/2012 21/03/2012 21/03/2012 21/03/2012 21/03/2012 21/03/2012 21/03/2012 29/03/2012 20/04/2012 20/04/2012 20/04/2012 20/04/2012 20/04/2012 20/04/2012 20/04/2012 23/04/2012 23/04/2012 23/04/2012 3/05/2012 3/05/2012 29/05/2012 31/05/2012 31/05/2012 8/06/2012 15/06/2012 15/06/2012 26/06/2012 5/07/2012 5/07/2012 5/07/2012 5/07/2012 10/07/2012 10/07/2012 10/07/2012 10/07/2012 10/07/2012 10/07/2012

No creditors on record

Forge Group Minerals & Resources Ltd - Grantor Organisation Identifier Type: ABN 75 113 740 211 Secured Parties TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD

Registration Number 201203020028576 201203020028856 201203020028915 201203050020710 201203050021027 201203050021299 201203050021626 201203050022204 201203050024413 201203050024608 201203210013611 201203210013960 201203210016074 201203210016775 201203210019108 201203210022076 201203210027306 201203210027933 201203210029396 201203210029639 201203210030152 201203210031665 201203290113881 201204200050649 201204200051291 201204200052089 201204200052782 201204200053195 201204200053944 201204200058092 201204230064227 201204230065568 201204230065872 201205030043625 201205030044447 201205290112935 201205310063795 201205310064482 201206080064669 201206150036325 201206150038175 201206260052409 201207050083264 201207050083480 201207050084437 201207050085296 201207100029979 201207100032383 201207100044276 201207100044689 201207100045015 201207100061831

PMSI Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Transitional No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Migrated No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Secured Parties TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD SCHNEIDER ELECTRIC (AUSTRALIA) PTY LIMITED TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD

Registration Number 201208310104150 201210190022534 201210190025406 201210190048880 201211230033767 201212170016999 201303130045207 201304020026788 201304110014396 201304220017328 201304260013759 201305080018062 201305150044675 201305300022548 201305300023365 201305300023558 201308220010088 201308220010781 201308220011299 201308220011711

PMSI Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

Transitional No No No No No No No Yes No No No No No No No No No No No No

Migrated No No No No No No No No No No No No No No No No No No No No

Collateral Class Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Other goods Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle

Registration Start Date 31/08/2012 19/10/2012 19/10/2012 19/10/2012 23/11/2012 17/12/2012 13/03/2013 2/04/2013 11/04/2013 22/04/2013 26/04/2013 8/05/2013 15/05/2013 30/05/2013 30/05/2013 30/05/2013 22/08/2013 22/08/2013 22/08/2013 22/08/2013

Migrated No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No No

Collateral Class Motor vehicle Other goods Motor vehicle Other goods Other goods Other goods Other goods Motor vehicle Other goods Other goods Other goods Other goods Other goods Other goods Other goods Other goods Motor vehicle Motor vehicle Other goods Other goods Motor vehicle Other goods Other goods Other goods Other goods ALLPAAP - No exceptions Motor vehicle Other goods Motor vehicle Motor vehicle Other goods

Registration Start Date 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 2/02/2012 2/02/2012 10/02/2012 14/02/2012 11/04/2012 12/04/2012 12/04/2012 4/10/2012 16/01/2013 16/01/2013 24/01/2013 24/01/2013 8/04/2013 15/04/2013 28/06/2013 28/06/2013 28/06/2013 28/06/2013 2/07/2013 5/09/2013 5/09/2013 26/09/2013 26/09/2013 16/10/2013

Forge Group Minerals & Resources Ltd - Grantor Organisation Identifier Type: ACN 113 740 211 Secured Parties COATES HIRE OPERATIONS PTY LIMITED COATES HIRE OPERATIONS PTY LIMITED TOYOTA FINANCE AUSTRALIA LTD KENNARDS HIRE PTY LIMITED ULTRAPLAST PTY LTD KOUNIS METAL INDUSTRIES PTY. LTD. KOUNIS METAL INDUSTRIES PTY. LTD. ENERGY POWER SYSTEMS AUSTRALIA PTY. LIMITED. ENERGY POWER SYSTEMS AUSTRALIA PTY. LIMITED. SIEMENS LTD. AUSTRALIAN PORTABLE BUILDINGS PTY. LIMITED TYCO FLOW CONTROL PACIFIC PTY LIMITED TYCO FLOW CONTROL PACIFIC PTY LIMITED GOYEN CONTROLS CO PTY LTD GLOBAL PUMP GROUP PTY LTD TRU BLU HIRE AUSTRALIA PTY LTD TRU BLU HIRE AUSTRALIA PTY LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD PERKAL PTY LTD FLEET PARTNERS PTY LIMITED B.L. SHIPWAY & CO PTY. LTD B.L. SHIPWAY & CO PTY. LTD B.L. SHIPWAY & CO PTY. LTD B.L. SHIPWAY & CO PTY. LTD ANZ FIDUCIARY SERVICES PTY LTD TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD CUSTOM SERVICE LEASING PTY LTD CUSTOM SERVICE LEASING PTY LTD ANTEC ENGINEERING PTY LIMITED GCS SECURITY SCAFFOLDING PTY LTD COASTAL HIRE PTY LTD GCS RAPID ACCESS PTY LTD GCS ACCESS PTY LTD BFA INVESTMENTS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GCS BUDGET PORTABLES PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GLOBAL CONSTRUCTION SERVICES LIMITED GCS INDUSTRIAL SERVICES PTY LTD GCS HIRE PTY LTD GCS CONCRETE PUMPING PTY LTD GCS SECURITY SCAFFOLDING PTY LTD COASTAL HIRE PTY LTD GCS RAPID ACCESS PTY LTD GCS ACCESS PTY LTD BFA INVESTMENTS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GCS BUDGET PORTABLES PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GLOBAL CONSTRUCTION SERVICES LIMITED GCS INDUSTRIAL SERVICES PTY LTD GCS HIRE PTY LTD GCS CONCRETE PUMPING PTY LTD GCS SECURITY SCAFFOLDING PTY LTD COASTAL HIRE PTY LTD GCS RAPID ACCESS PTY LTD GCS ACCESS PTY LTD BFA INVESTMENTS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GCS BUDGET PORTABLES PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GLOBAL CONSTRUCTION SERVICES LIMITED GCS INDUSTRIAL SERVICES PTY LTD GCS HIRE PTY LTD GCS CONCRETE PUMPING PTY LTD GCS SECURITY SCAFFOLDING PTY LTD COASTAL HIRE PTY LTD GCS RAPID ACCESS PTY LTD GCS ACCESS PTY LTD BFA INVESTMENTS PTY LTD GLOBAL INDUSTRIAL SERVICES (AUST) PTY LTD GCS BUDGET PORTABLES PTY LTD C.A.S.C. CONSTRUCTIONS PTY. LTD. GLOBAL CONSTRUCTION SERVICES LIMITED GCS INDUSTRIAL SERVICES PTY LTD GCS HIRE PTY LTD GCS CONCRETE PUMPING PTY LTD

Registration Number 201112202153807 201112202153876 201201030117821 201201051278393 201201101048997 201201120726417 201201120726429 201202020029190 201202020029876 201202100253421 201202140003566 201204110184221 201204120014801 201204120063774 201210040046923 201301160012974 201301160039140 201301240066150 201301240069688 201304080053627 201304150066825 201306280018371 201306280022442 201306280050314 201306280054890 201307020066414 201309050091738 201309050091740 201309260047700 201309260047716 201310160023593

PMSI Transitional Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes No Yes Yes No Yes No Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes No Yes No Yes No Yes No Yes No Yes No Yes Yes Yes Yes UNKNOWN No Yes No Yes No Yes No No No Yes No

201312070034466

Yes

Yes

No

Motor vehicle

7/12/2013

201312070034608

Yes

Yes

No

Other goods

7/12/2013

201312070034864

Yes

Yes

No

Other goods

7/12/2013

201312070034990

Yes

Yes

No

Motor vehicle

7/12/2013

Secured Parties AFC GROUP PTY. LTD. METAL MANUFACTURES LIMITED INDUSTRIAL PROGRESS CORPORATION PTY LTD KLINGER LIMITED CAPS AUSTRALIA PTY LTD ISAS - INTEGRATED SWITCHGEAR AND SYSTEMS PTY LTD

Registration Number 201311140061540 201312190142091 201401280329321 201401290185459 201401310211850 201401310373225

PMSI Yes Yes Yes Yes Yes Yes

Transitional No Yes Yes Yes Yes Yes

Migrated No No No No No No

Collateral Class Other goods Other goods Other goods Other goods Other goods Other goods

Registration Start Date 14/11/2013 19/12/2013 28/01/2014 29/01/2014 31/01/2014 31/01/2014

Forge Group Minerals & Resources Ltd - Grantor Organisation Identifier Type: NAME FORGE GROUP MINERALS & RESOURCES LTD Secured Parties

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Transitional No No

Migrated No No

Collateral Class Motor vehicle Other goods

Registration Start Date 27/09/2012 27/09/2012

No creditors on record

Forge Group Power Pty Ltd - Grantor Organisation Identifier Type: ABN 41 103 678 324 Secured Parties ENERGY POWER SYSTEMS AUSTRALIA PTY. LIMITED. ENERGY POWER SYSTEMS AUSTRALIA PTY. LIMITED. FUJI XEROX FINANCE LIMITED FUJI XEROX AUSTRALIA PTY. LIMITED COVENTRY GROUP LIMITED SIME DARBY FLEET SERVICES PTY LTD S. V. HAOUST PTY LTD S. V. HAOUST PTY LTD

Registration Number 201209270071508 201209270071531

PMSI Yes Yes

201212030052887

Yes

No

No

Other goods

3/12/2012

201309260087279 201401060186889 201402110067559 201402110067867

Yes No Yes Yes

Yes No No No

No No No No

Other goods Motor vehicle Motor vehicle Motor vehicle

26/09/2013 6/01/2014 11/02/2014 11/02/2014

Collateral Class ALLPAAP - No exceptions Motor vehicle Other goods Other goods ALLPAAP - No exceptions Motor vehicle Other goods Other goods

Registration Start Date 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 30/01/2012 10/02/2012

Forge Group Power Pty Ltd - Grantor Organisation Identifier Type: ACN 103 678 324 Secured Parties ESANDA FINANCE CORPORATION LIMITED COATES HIRE OPERATIONS PTY LIMITED COATES HIRE OPERATIONS PTY LIMITED CAPITAL FINANCE AUSTRALIA LIMITED CAPITAL FINANCE AUSTRALIA LIMITED MACQUARIE LEASING PTY LTD FREO GROUP LIMITED SIEMENS LTD. KONICA MINOLTA BUSINESS SOLUTIONS AUSTRALIA PTY LTD BOC LIMITED LAWVALE PTY. LTD. COREGAS PTY LTD J. BLACKWOOD & SON PTY LTD MEREDITH DISTRIBUTION PTY LTD BULLIVANTS PTY LIMITED PROTECTOR ALSAFE PTY LTD SUN ENGINEERING (QLD) PTY. LTD. SUN ENGINEERING (QLD) PTY. LTD. SUN ENGINEERING (QLD) PTY. LTD. SUN ENGINEERING (QLD) PTY. LTD. KINGSTON BRIDGE ENGINEERING PTY LTD ORRCON OPERATIONS PTY LTD ONSITE RENTAL GROUP OPERATIONS PTY LTD REDSTAR EQUIPMENT PTY LTD CASTROL AUSTRALIA PTY. LIMITED FLEET PARTNERS PTY LIMITED TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD FLEET PARTNERS PTY LIMITED ANZ FIDUCIARY SERVICES PTY LTD ATLAS COPCO AUSTRALIA PTY LTD COVENTRY GROUP LIMITED VEOLIA WATER SOLUTIONS & TECHNOLOGIES (AUSTRALIA) PTY LTD J. BLACKWOOD & SON PTY LTD ADVANCED ELECTRICAL EQUIPMENT PTY. LTD. AUSCON INDUSTRIES PTY LTD BRADKEN RESOURCES PTY LIMITED METAL MANUFACTURES LIMITED TOYOTA FINANCE AUSTRALIA LTD TOYOTA FINANCE AUSTRALIA LTD ADVANCED ELECTRICAL EQUIPMENT PTY. LTD. POWERFLO SOLUTIONS PTY LTD DIAMANTINA POWER STATION PTY LIMITED AGGREKO GENERATOR RENTALS PTY. LIMITED KLINGER LIMITED BOOM LOGISTICS LTD BOOM LOGISTICS LTD BOOM LOGISTICS LTD BOOM LOGISTICS LTD BOOM LOGISTICS LTD BOOM LOGISTICS LTD BOOM LOGISTICS LTD SHERRIN HIRE PTY LTD SHERRIN HIRE PTY LTD SHERRIN HIRE PTY LTD

Registration Number 201112170014568 201112202062060 201112202062170 201112212397782 201112230306224 201112290283393 201201060119524 201202100253990

PMSI Transitional Migrated UNKNOWN Yes Yes - FIXED Yes Yes No Yes Yes No No Yes No UNKNOWN Yes Yes - FIXED Yes Yes No Yes Yes No Yes Yes No

201204190143989

Yes

Yes

No

Other goods

19/04/2012

201206140010735

Yes

No

No

Other goods

14/06/2012

201208300072461

No

No

No

Other goods

30/08/2012

201212190084346 201212190091158 201212190092499 201212190094203 201301300024506 201302210021077

No No No No Yes Yes

No No No No No No

No No No No No No

Other goods Other goods Other goods Other goods Other goods Other goods

19/12/2012 19/12/2012 19/12/2012 19/12/2012 30/01/2013 21/02/2013

201302210070387

Yes

Yes

No

Other goods

21/02/2013

201303270064028 201304020013523 201304150050956 201304150050960 201304150052222 201307020066700 201308120032357 201309130036826

Yes Yes Yes Yes Yes UNKNOWN No Yes

Yes No No No No No No No

No No No No No No No No

Other goods Motor vehicle Motor vehicle Other goods Motor vehicle ALLPAAP - No exceptions Other goods Other goods

27/03/2013 2/04/2013 15/04/2013 15/04/2013 15/04/2013 2/07/2013 12/08/2013 13/09/2013 18/09/2013

201309180016499

UNKNOWN

No

No

ALLPAAP - No exceptions

201309230006980

Yes

No

No

Other goods

23/09/2013

201309260043506

Yes

Yes

No

Other goods

26/09/2013

201310170055908 201311040000999 201311040036418 201311040036425 201311140035711 201311290013226 201312060069632 201401020032712 201401290160132 201402070033702 201402070034070 201402070034711 201402070034931 201402070035543 201402070036245 201402070036590 201402110059919 201402110060136 201402110060250

Yes No Yes Yes Yes UNKNOWN UNKNOWN Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes

No No No No Yes No Yes No Yes No No No No No No No No No No

No No No No No No No No No No No No No No No No No No No

Other goods Other goods Motor vehicle Other goods Other goods ALLPAAP - No exceptions ALLPAAP - With exception Other goods Other goods Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle Motor vehicle

17/10/2013 4/11/2013 4/11/2013 4/11/2013 14/11/2013 29/11/2013 6/12/2013 2/01/2014 29/01/2014 7/02/2014 7/02/2014 7/02/2014 7/02/2014 7/02/2014 7/02/2014 7/02/2014 11/02/2014 11/02/2014 11/02/2014

Forge Group Power Pty Ltd - Grantor Organisation Identifier Type: NAME FORGE GROUP POWER PTY LTD Secured Parties

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

Migrated

Collateral Class

Registration Start Date

Migrated No

Collateral Class ALLPAAP - No exceptions

Registration Start Date 2/07/2013

No creditors on record

Forge International Pty Ltd - Grantor Organisation Identifier Type: ABN 64 128 522 305 Secured Parties

Registration Number

PMSI

Transitional

No creditors on record

Forge International Pty Ltd - Grantor Organisation Identifier Type: ACN 128 522 305 Secured Parties ANZ FIDUCIARY SERVICES PTY LTD

Registration Number 201307020066744

PMSI UNKOWN

Transitional No

Forge International Pty Ltd - Grantor Organisation Identifier Type: NAME FORGE INTERNATIONAL PTY LTD Secured Parties No creditors on record

Registration Number

PMSI

Transitional

Migrated

Collateral Class

Registration Start Date

1

Company Information

1.1

Statutory information

A search of the ASIC database revealed the following information.

1.1.1 Incorporation date and registered office Forge Group Limited (FGL or the Company) was incorporated on 30 June 1994.

Annexure 5

The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

1.1.2 Company officers We table below the Company’s directors and officers during the past 12 months:

Forge Group Limited (Administrators Appointed) (Receivers and Managers Appointed) (FGL)

Name

Role

Appointment Date

Cessation Date

Marcello Cardaci David Craig Neil Siford Kevin Gallagher David Simpson Gregory Kempton John O’Connor Grahame White Julie Beeby Andrew Bell Glen Smith

Director Director Director Director Director Director Director Director Director Secretary Secretary

4 June 2007 8 March 2011 8 August 2011 3 November 2011 9 July 2012 29 November 2012 29 November 2012 5 September 2013 5 September 2013 3 March 2011 9 April 2013

24 October 2013 Current 28 March 2013 28 March 2013 Current Current Current Current Current 9 April 2013 Current

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

1.1.3 Shareholders The ASIC database discloses there are 86,169,014 issued shares. These shares are fully paid. Of the issued shares, none are owned by directors. The company’s shares are publicly listed and there have been significant ownership changes over the past 12 months. Shareholders are also discussed within section 3.2.3 of the report.

1.1.4 Registered Security Interests Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR. There are 44 PPSR registrations against FGL as at 12pm on 11 February 2013. We have not summarised these below, however a table of the registrations is enclosed as Annexure 4. Further, given the limited time available we have not undertaken a review of registrations in relation to their validity or otherwise. This review is continuing.

We note that ANZ Fiduciary Services Pty Ltd (ANZ) has an All Property and After Acquired Property security interest registered against FGL. We summarise the ANZ’s security position with respect to all entities within section 7 of the report.

2

Historical financial information

2.1

Preparation of financial statements

As a listed entity the Group had prepared audited financial reports for the years ending 30 June 2012 and 2013.

1.1.5 Deed of Cross Guarantee The Company is subject to a Deed of Cross Guarantee (DXG) dated 5 May 2011. For completeness, we table below the entities subject to the DXG: Entities Subject to Deed of Cross Guarantee Forge Group Limited Forge Group Power Forge Group Construction Forge Group Minerals and Resources

At the date of appointment, the Group was in the process of finalising its half year financial accounts and its monthly management reports as at 31 January 2014. The Group prepared monthly management accounts, cash flows and reports on a Group basis. The Group also maintained the following at a subsidiary level: ƒ

Monthly management trading accounts.

ƒ

12 month profit and loss accounts and cash flows.

2.2

Profit and loss statements and preliminary analysis

1.1.6 Winding up applications

Set out below is a summary of FGL’s profit and loss statement (extracted from the consolidated management accounts) for the:

At the date of our appointment there was no outstanding winding up application against the Company.

ƒ

Full year ended 30 June 2012

ƒ

Full year ended 30 June 2013

1.2

ƒ

Seven months ending 31 January 2014

Company history

FGL was the head company of the Group. The Group provided engineering, procurement, construction and asset management (operations and maintenance) services to the minerals, resources and energy sector.

Profit and Loss (Unaudited) $’000 Revenue Cost of Sales Overheads Asset Recovery Gross Profit/(Loss) Expenses Operating Profit/(Loss) Other Income Profit/(Loss) Before Tax Tax (expense)/Income Profit/ (Loss) After Tax

A brief timeline of material events follows:

Period to 31 January 2014 -

Year to 30 June 2013 6,872

Year to 30 June 2012 5,109

(5,129) (5,129) (29,680) (34,810) 438 (34,372) (2,089) (36,461)

(35,525) 156,797 128,144 (940) 127,204 127,204 7,648 134,852

(16,983) 109 (11,765) 589 (11,175) (11,175) 4,125 (7,050)

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FGL was originally incorporated in WA in 1994 as Clamper Pty Ltd (later changed to J & R Steel Fabrication Pty Ltd).

ƒ

In 2006 FGL acquired Cimeco group.

ƒ

FGL listed on the ASX in 2007.

ƒ

In 2008 FGL acquired Abesque Engineering & Construction.

ƒ

Clough Operations Pty Ltd acquired a 31.3% stake in FGL in 2010.

ƒ

In 2012 FGL acquired CTEC (Forge Power).

In respect of the above, we make the following comments:

ƒ

Clough Operations Pty Ltd sold its entire shareholding of FGL in a Block Trade Agreement in 2013.

ƒ

ƒ

In 2013 FGL acquired Taggart Global.

The major line items making up the expenses of $29.7m include the salaries and wages relating to management ($6.8m) and a fair value loss on FGL’s held derivatives ($9.2m).

ƒ

Other material contributions to expenses include:

1.3

Decision to appoint Administrators

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular, the causes of failure of the Group are discussed in section 5.2 of this report.

Ƒ

Bank charges ($1.9m)

Ƒ

Computer support and maintenance ($1.6m)

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Rent of offices and housing ($1.6m)

Ƒ

Travel and accommodation expenses ($1.2m)

2.3

ƒ

Balance sheet and preliminary analysis

Set out below is a summary of FGL’s balance sheet (extracted from the consolidated management accounts) as at: ƒ ƒ ƒ

30 June 2012

Prepayments Security Deposit Deferred transaction costs (ANZ) Investments Total

31 January 2014 As at 31 January 2014

As at 30 June 2013

As at 30 June 2012

$'000

$'000

$'000

Current Assets Cash and Cash Equivalents Trade and Other Receivables Inventory Other Assets Total Current Assets Current Liabilities Trade and Other Payables Inter Company Loans Other Liabilities Current Liabilities Net Current Assets/(Liabilities) Non Current Assets Property, Plant and Equipment Other Assets Total Non Current Assets Non Current Liabilities Provisions Other Liabilities Total Non Current Liabilities Net Assets/(Liabilities) Equity Contributed Equity Reserves Total Equity

(11,082) 39 28 69,699 58,683

19,091 3,050 3 522 22,666

106,638 2,709 266 109,614

8,747 (61,849) 16,106 (36,995) 95,679

10,181 (52,994) (71,266) (114,079) 136,744

2,027 125,600 7,440 135,066 (25,452)

3,961 0 3,961

3,118 2,163 5,280

1,555 45,812 47,368

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ƒ

Trade Creditors Control Income in Advance GST Clearing Suspense Account Accrued Expenses Total

95 2 97 99,542

55 84 139 141,886

78 159 237 21,678

45,430 54,112 99,542

45,430 96,456 141,886

45,430 (23,752) 21,678

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ƒ

As at 31 January 2014 $'000 22 8 99 (9,121) 15 (617) (3,639) 2,150 (11,082)

As at 31 January 2014 $’000 (2,361) (611) (3,211) 127 (6,056)

As shown above, over 50% of trade creditors are more than 60 days overdue, however the Company has advised that apart from the Australian Taxation office, it had not entered into any formal payment arrangements with creditors. Other liabilities include: Other Liabilities Hire Purchase Unexpired Interest Commercial Bills Insurance Financing Current Tax Provision Derivative Liability (Warrants) ANZ Overdraft (Deferred Cash) Provision for Annual Leave Provision for Long Service Leave (C) Total

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As at 31 January 2014 $'000 6,056 (249) 2,940 8,747

An ageing breakdown of trade creditors is as follows:

Current 30 Days 60 Days 90 Days + Total

Cash and Cash Equivalents:

Cash at bank NAB US$ cash account ANZ US$ cash account ANZ corporate transaction account ANZ investment account ANZ payroll account Payroll account contra Term deposits Total

Trade and other payables include: Trade and Other Payables

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As at 31 January 2014 $'000 308 46 3,878 65,467 69,699

FGL’s major investments are the investment in FGP ($35.8m), the investment in FGMR ($19.5m) and the investment in FGC ($9.6m). Other investments include Webb West Africa ($0.4m), Webb South Africa ($0.5m) and Forge Inc. ($0.6m).

Creditors’ Ageing

In respect of the above, we have broken down the material accounts shown above for the seven month period to 31 January 2014 as follows: Cash and Cash Equivalents

Other Current Assets include: Other Current Assets

30 June 2013

Balance Sheet (Unaudited) $’000

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ƒ

As noted above, as at 31 January 2014 the company had drawn down almost $10m on their ANZ accounts. The cash at bank and term deposits were transferred to the control of the Receivers and Managers upon their appointment.

As at 31 January 2014 $'000 103 (1) 1,144 (3,017) 16,734 170 948 24 16,106

The $16.7m derivative liability relates to the accounting treatment of derivatives issued to ANZ when securing financing.

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Property, plant and equipment include: Property, Plant and Equipment Computers & Software Acc Depr Computers & Software Leasehold Improvements Office Furniture & Equipment - At Cost Accum Depreciation - Office Furn & Equip Motor Vehicles Accum Depn Motor Vehicles Asset Acquisition Clearing Total

As at 31 January 2014 $'000 4,528 (2,240) 956 67 (11) 212 (86) 535 3,961

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The book value of the property, plant and equipment is shown at cost less accumulated depreciation.

ƒ

Contributed equity includes: Contributed Equity Paid Up Capital Total

ƒ

As at to 31 January 2014 $'000 45,430 45,430

Reserves balance consists of the following: Reserves Options Reserve Retained Earnings(Prior Years) Dividends Paid Accumulated Profits (Losses)-This Year Total

ƒ

3 cent dividend paid 25 September 2009 on 68,341,752 shares 2 cent dividend paid 31 March 2010 on 68,431,752 shares 5 cent dividend paid 24 September 2010 on 78,814,014 shares 2010 Dividends Transferred to Retained Income 2009 Provision for interim dividend 2011 Full year dividend 2012 Interim dividend 2012 Full year dividend 2013 Interim dividend 2013 final dividend Total

2.4

In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.”

2.5

Preliminary Solvency Assessment

2.5.1 Working Capital Position We summarise below the working capital position of FGL as at 30 June 2012, 30 June 2013 and 31 January 2014: Period to 31 January 2014 $'000 58,683 24,854 33,830 2.36

Capital Working Capital As at to 31 January 2014 $'000 2,931 128,570 (40,927) (36,461) 54,112

A breakdown of the dividends paid are as follows: Dividend

“The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records.

The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

Paid up capital primarily consists of fully paid ordinary shares ($23.9m) and shares originally issued to Clough Operations Pty Ltd ($21.4m).

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In their correspondence to us, the directors requested an extension for the following reasons:

As at 31 January 2014 $’000 2,050 1,369 3,944 (3,419) 3,314 6,257 5,008 6,894 8,617 6,894 40,927

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”).

Total Current Assets Total Current Liabilities Working Capital Working Capital Ratio

Year to 30 June 2013 $'000 22,666 (61,215) 83,881 (0.37)

Year to 30 June 2012 $'000 109,614 9,407 100,206 11.65

The above working capital excludes the effect of intercompany loans. As at 31 January 2014, FGL had intercompany loans receivable in the amount of $61m. This is in contrast to $125m intercompany loans payable at 30 June 2012. The intercompany loans are discussed further below. Due to the effect that the intercompany loans have on the Company’s working capital position, its working capital position would not be an ideal indicator of the Company’s solvency.

2.5.2 Aged (Trade) Creditor Analysis Category Aged Payables Aged Payables exc ATO debt

Current

30 Days

60 Days

815

2,760,053

726,382 -

90 Days +

Total

3,160,022

6,647,272

815

423,380

441,510

16,019

849,686

Percentage of total Creditors

0.01%

41.52%

10.93%

47.54%

100%

Percentage exl GST

0.10%

49.83%

51.96%

-1.89%

100%

The above table illustrates the ageing of the liabilities of the Company as at 31 January 2014, both inclusive and exclusive of the tax liabilities outstanding by the Company. As can be seen, the majority of the outstanding trade liabilities were incurred within the months preceding the appointment of Administrators, with minimal trade creditors (aside from the ATO), falling within the 90+ day category.

We note that the Group entered into a payment arrangement with the ATO in respect of certain outstanding PAYG debts included above. We comment further in relation to the same in the body of this report. A similar pattern emerged in the Company’s December aged payables. Prior to this 90% of aged payables were either current or within 30 Days.

2.9

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report:

2.5.3 Intercompany Loans (a)

Unfair preferences – Our preliminary review has identified two (2) transactions which we consider warrant further investigation. Please refer to the body of this report for further particulars with respect to the same.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial, however our review is continuing.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator, however our review is continuing.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company, however our review continues in this regard.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company, however our review is continuing.

2.10

Breach of directors’ duties

The intercompany loans for FGL for the period 30 June 2012 to 31 January 2014 are summarised below: Consolidated Balance Sheet (Unaudited) Inter Company Loans

Period to 31 January 2014 $'000 (61,849)

Year to 30 June 2013 $'000 (52,994)

Year to 30 June 2012 $'000 125,600

Given the time limitations, we have not yet been able to verify the timing and recipient of the aggregate of these loans.

2.5.4 Demands, Writs & Summons A search has not identified any writs, summons or defaults on the entity’s credit record.

2.5.5 Preliminary Determination of Date of Insolvency Further to our comments in section 7.3.5 of this report, based on our preliminary investigations to date, we are of the opinion that the FGL may have been insolvent as early as November 2013. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency. Notwithstanding this view, there are a number of defences available to the directors in relation to insolvent trading given the work undertaken to restructure the Group and secure further capital. Accordingly, further work would need to be undertaken by a liquidator to consider the commerciality of a claim against the directors with respect to insolvent trading.

2.6

Director Liability

Having regard to the above, our assessment as to a possible insolvent trading claim against the directors is continuing. We have had insufficient time to form an opinion as to whether such a claim may exist against the directors, however we note that a liquidator would conduct further investigations in this regard.

2.7

Holding Company Liability

FGL is the holding company of the group, and therefore may be liable for the debts of its subsidiaries pursuant to Section 588V of the Act.

2.8

Books & Records

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

Our investigations with respect to breaches of directors’ duties are continuing. Please refer to the body of this report for further particulars and possible transactions which may warrant further investigation.

2.11

Avoidance of employee entitlements

Our preliminary investigations with respect to the avoidance of employee entitlements are continuing. Please refer to the body of this report for further particulars as to statutory amounts outstanding as at the date of our appointment.

2.12

Other matters

We have identified a number of transactions which may warrant further investigation. These transactions are discussed in further detail throughout the body of this report.

2.13

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

*TBD = To be Determined

Annexure 6

Our investigations with respect to the above claims are continuing.

2.14

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

Forge Group Power Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed) (FGP)

1

Company Information

1.1.5 Deed of Cross Guarantee

1.1

Statutory information

We confirm that the Company is subject to a Deed of Cross Guarantee (DXG) dated 5 May 2011.

A search of the ASIC database revealed the following information. For completeness, we table below the entities subject to the DXG:

1.1.1 Incorporation date and registered office Forge Group Power Pty Ltd (FGP or the Company) was incorporated on 10 February 2003 and is 100% owned by FGL. The Company’s registered office is listed as 26 Troode Street, Perth, Western Australia, 6005.

Entities Subject to Deed of Cross Guarantee Forge Group Limited Forge Group Power Forge Group Construction Forge Group Minerals and Resources

1.1.2 Company officers

1.1.6 Winding up applications

The Company’s officers over the past 12 months were:

At the date of our appointment there was no outstanding winding up application against the Company.

Name Peter Hallam Kevin Robinson Neil Robinson David Simpson Donald Montgomery Brett Smith Mark Rankmore Andrew Bell Glen Smith

Role Director Director Director Director Director Director Director Secretary Secretary

Appointment Date 17 March 2003 4 February 2004 14 January 2008 27 July 2013 22 January 2013 22 January 2013 5 December 2013 10 August 2012 9 April 2013

Cessation Date 9 April 2013 9 April 2013 9 April 2013 Current Current 25 November 2013 Current 9 April 2013 Current

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

1.2

Company history

FGP was established in 2003 and provided turnkey engineering, procurement and construction power generation solutions to clients in the resources, oil & gas and infrastructure sectors. In 2012 FGL acquired CTEC Pty Ltd, an already established power generation solutions company, and incorporated CTEC into FGP in January 2013.

1.3

Overview of key Projects

We have undertaken a preliminary review of the Group’s records and summarise below the key projects with respect to FGP:

1.1.3 Shareholders Key Projects (FGP)

The ASIC database discloses there are 16 issued shares. These shares are fully paid and wholly owned by FGL.

1.1.4 Registered Security Interests Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR. There are 55 PPSR registrations against FGP as at 12pm on 11 February 2013. We have not summarised these below, however a table of the registrations is enclosed as Annexure 4. Further, given the limited time available we have not completed a review of registrations in relation to their validity or otherwise. We note that ANZ Fiduciary Services Pty Ltd (ANZ) has an All Property and After Acquired Property security interest registered against FGP. We summarise the ANZ’s security position with respect to all entities within section 7 of this report.

Merriden Diamantina Rio West Angelas Todd (NZ) Yarnima (BHP) Cape Lambert Horizon Total

Scope of Works EPC EPC EPC EPC EPC EPC EPC

Contract Value $M 67 443 165 25 134 286 91 1,211

% Completed as at 31 Dec 2014 99% 91% 84% 99% 69% 49% 82%

The status of the above projects was tabled in the finance report presented to the Board of FGP during January 2014. We have not undertaken a full assessment of the above projects given the appointment of Receivers and Managers to FGP.

The major projects that FGP was completing as at the date of our appointment included: ƒ

The Diamantina 242 MW combined cycle power station EPC for APA DPS Ltd in Queensland (Diamantina).

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2.1

Preparation of financial statements

The contract was awarded on 10 June 2011 and was due to be completed on 15 March 2014.

As a subsidiary of a listed entity, FGP had prepared audited financial reports for the years ending 30 June 2012 and 2013.

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The original budget projected revenue of $418m and costs of $381M, however the January 2014 project reviews indicated that revenue would increase to $443m and costs to $508m generating an expected loss of $65m.

At the date of appointment, the Group was in the process of finalising its half year financial accounts and its monthly management reports for the month of January 2014.

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During the period to January 2014 Forge Group Power recorded negative revenue for the project of $3.4m with further costs of $94m. Given the project is nearly complete, the Receivers and Managers are liaising with the client to finalise the project and preserve the bonds associated with the project.

Cape Lambert 130 MW combined cycle power station EPC for Rio Tinto Iron Ore in Western Australia (Cape Lambert). Ƒ

The contract was awarded in October 2012 and was expected to be completed by January 2016.

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As at January 2014 it was forecast that the revenue for the project would be $287m with costs of $251m, a $36m profit.

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Following our appointment, the contract was terminated by the customer.

FGP prepared monthly management accounts, cash flows and reports on a group basis. FGP also maintained the following at a subsidiary level: ƒ

Monthly management trading accounts.

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12 month profit and loss accounts and cash flows.

2.2

Profit and loss statements and preliminary analysis

Set out below is a summary of the Company’s profit and loss statement (extracted from the consolidated management accounts) for the: ƒ

Full year ended 30 June 2012 and 30 June 2013; and

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Seven months ending 31 January 2014 Profit and Loss (Unaudited) Revenue Less: Cost of Sales Overheads Asset Recovery Gross Profit/(Loss) Gross Profit/(Loss) Percentage Expenses Operating Profit/(Loss) Other Income Profit/(Loss) Before Tax Tax (expense)/Income Profit/ (Loss) After Tax

The West Angelas 80 MW power station for Rio Tinto in Western Australia (West Angelas). Ƒ

The contract was awarded on 2 November 2011 and was originally due to complete by October 2013. As at January 2014 the expected completion date was October 2014.

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The original budget was for revenue of $148m with costs of $125m. At January 2014, forecast revenue for the project was $173m with costs of $215m, or an expected $42m loss.

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Following our appointment, the contract was terminated by the customer.

The West Angelas and Diamantina power projects were a major cause of the Group financial issues. These projects and the inherent issues are discussed in further detail in section 7 of this report.

1.4

Historical financial information

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2

Year to 30 June 2013 $'000 496,237 (444,254) (39,224) 462 13,221 2.66% (48) 13,173 13,173 (4,395) 8,778

Year to 30 June 2012 $'000 266,230 (231,366) (8,179) (593) 26,092 9.80% (142) 25,950 25,950 (7,561) 18,389

We summarise the key accounts for the seven month period to 31 January 2013 as follows: WIP Income ƒ

Decision to appoint Administrators

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

Period to 31 January 2014 $'000 150,050 (313,565) (366) (163,881) (109.22%) (5,042) (168,923) 1,097 (167,826) (17) (167,844)

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Based on the project overview reports as at 31 December 2013, the following projects contributed to the WIP income of $150m for the period: Ƒ

Cape Lambert

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Yarnima

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Horizon

As at the date of this report only the Diamantina contract is yet to be terminated.

Cost of Sales ƒ

Cost of Sales relate to the ongoing costs of completing FGP’s contracts and can be summarised as follows: Cost Component

As at 31 January 2014 $'000 (75,218) (64,961) (135,671) (37,715) (313,565)

WIP - Labour WIP - Materials WIP - Subcontractors WIP – Overhead Total

2.3

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Balance sheet and preliminary analysis

Debtors Ageing Current Period 30 Days 60 Days 90 Days + Total

The majority of trade debtors are current.

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Though we have not been able to form a view at this stage, it is uncertain whether all of these debtors will now be collectable given the termination of various customer contractors and liquidated damages claims / offset that may now be made.

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30 June 2012

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30 June 2013

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31 January 2014 Consolidated Balance Sheet (Unaudited) Current Assets Cash & Cash Equivalents Trade and Other Receivables Inventory Other Assets Total Current Assets Current Liabilities Trade and Other Payables Inter Company Loans Other Liabilities Current Liabilities Net Current Assets/(Liabilities) Non Current Assets Property, Plant and Equipment Other Assets Total Non Current Assets Non Current Liabilities Provisions Other Liabilities Total Non Current Liabilities Net Assets/(Liabilities) Equity Contributed Equity Reserves Total Equity

As at 30 June 2013 $'000

Trade Creditors Control Income in Advance GST Clearing Account Accrued Expenses Total

As at 30 June 2012 $'000

10,947 9,768 27,358 1,568 49,641

28,888 20,384 115,408 348 165,028

24,797 37,222 458 62,478

115,076 94,793 167 210,036 (160,395)

127,380 31,260 (366) 158,274 6,754

33,119 5,902 840 39,861 22,617

1,695 45 1,741

2,087 444 2,531

1,635 732 2,367

45 45 (158,699)

389 389 8,896

9,427 9,427 15,557

(158,699) (158,699)

8,896 8,896

15,557 15,557

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Current 30 Days 60 Days 90 Days + Total

ƒ ƒ

Trade Debtors Total

As at 31 January 2014 $'000 9,768 9,768

Property, plant and equipment includes:

Plant & Equipment at cost Acc Depn Plant & Equipment Computers & Software Acc Depn Computers & Software Office Furniture & Equipment - At Cost Accum Depreciation - Office Furn & Equip Motor Vehicles Accum Depn Motor Vehicles Leasehold Improvements Acc Depn Leasehold Improvements Asset Acquisition Clearing Total

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As at 31 January 2014 $’000 (3,545) (5,604) (2,279) (887) (12,315)

The above breakdown does not include overseas creditors leading to a difference with the amount shown in the consolidated trade creditors control account above. Property, Plant and Equipment

Trade and other receivables includes: Trade and Other Receivables

As at 31 January 2014 $'000 12,795 24,354 493 77,434 115,076

An ageing breakdown of trade creditors is as follows: Creditors’ Ageing

We summarise the key accounts for the seven month period to 31 January 2014 as follows: ƒ

Trade and other payables includes: Trade and Other Payables

As at 31 January 2014 $'000

As at 31 January 2014 $’000 2,482 2,799 316 5,597

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Set out below is a summary of FGP’s balance sheet (extracted from the consolidated management accounts) as at: ƒ

Trade debtors includes retentions held of $4.2m. These retentions relate to the Yarnima project and sales orders with BHP Billiton Iron Ore. A further breakdown of the remainder of the trade debtors is as follows:

As at 31 January 2014 $'000 759 (266) 1,657 (1,107) 318 (188) 296 (86) 650 (343) 6 1,695

The book value of property, plant and equipment is shown at cost less accumulated depreciation.

ƒ ƒ

Reserves includes: Reserves

As at 31 January 2014 $'000 4 23,540 (14,399) (167,844) (158,699)

Exchange Translation Reserve Retained Earnings(Prior Years) Dividends Paid Accumulated Profits (Losses)-This Year Total

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Reserves are primarily made up of accumulated losses as shown within the profit and loss statement above.

2.4

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”). In their correspondence to us, the directors requested an extension for the following reasons: “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records.

Further, the above table illustrates the significant decline in working capital of the Company from a ratio of 1.84 as at 30 June 2012 to 0.43 as at 31 January 2014.

3.1.2 Aged (Trade) Creditor Analysis Category

Current

30 Days

60 Days

90 Days +

Total

Aged Payables

340,655

7,443,030

6,656,088

1,453,820

15,893,592

Aged Payables exc ATO debt

310,703

6,915,284

6,656,088

1,453,820

15,335,894

Percentage of total Creditors

2.14%

46.83%

41.88%

9.15%

100%

Percentage exl ATO

2.03%

45.09%

43.40%

9.48%

100%

The above table illustrates the ageing of the liabilities of the Company as at 31 January 2014, both inclusive and exclusive of the tax liabilities of the Company. As can be seen, the outstanding trade liabilities rose sharply from $1.45m in November 2013 to in excess of $6.65m in December 2013. We further note that the company was unable to meet its ATO liability when it became due and payable in January 2014. We note that the Group entered into a payment arrangement with the ATO in respect of certain outstanding PAYG debts included above. We comment further in relation to the same in the body of this report.

3.1.3 Intercompany Loans The intercompany loans for the FGP as at 30 June 2012, 30 June 2013 and 31 January 2014 are summarised below:

Inter Company Loans

In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.” The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

3

Statutory investigations

3.1

Preliminary Solvency Assessment

As at 31 January 2014 $'000 94,793

As at 30 June 2013 $'000 5,902

As at 30 June 2012 $'000

We note that within a short span of 7 months the company’s net borrowings from related companies increased by more than 1,600% of the amount owing as at 30 June 2013. Given the time limitations, we have not yet been able to verify the timing and recipient of the aggregate of these loans.

3.1.4 Demands, Writs & Summons A search has not identified any writs, summons or defaults on the entity’s credit record.

3.1.1 Working Capital Position

3.1.5 Preliminary Determination of Date of Insolvency

We summarise below the working capital position of FGP as at 30 June 2012, 30 June 2013 and 31 January 2014:

Further to our comments in section 7.3.5 of this report, based on our preliminary investigations to date, we are of the opinion that the FGP may have been insolvent as early as November 2013. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency.

Capital Working Capital Total Current Assets Total Current Liabilities Working Capital Working Capital Ratio

ƒ

As at 31 January 2014 $'000 49,641 115,243 (65,602) 0.43

As at June 2013 $'000 165,028 127,014 38,014 1.30

As at 30 June 2012 $'000 62,478 33,959 28,519 1.84

The working capital position excludes the effect of intercompany loans.

Notwithstanding this view, there are a number of defences available to the directors in relation to insolvent trading given the work undertaken to restructure the Group and secure further capital. Accordingly, further work would need to be undertaken by a liquidator to consider the commerciality of a claim against the directors with respect to insolvent trading.

3.1.6 Director Liability

3.4

Having regard to the above comments, we have had insufficient time to fully consider the solvency position of FGP on a standalone basis, and accordingly we have not formed an opinion as to whether an insolvent trading claim may exist against the directors. We note that a liquidator would conduct further investigations in this regard.

We have not identified any breaches of director’s duties in relation to the Company. However our investigations in this regard are continuing.

3.1.7 Holding Company Liability

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

Section 588V of the Act provides that the holding company may be held liable for the debts of a subsidiary in certain circumstances. FGP is 100% owned by FGL, however there may not be any commercial benefit in pursuing an insolvent trading claim against the parent entity (if such exists) due to the insolvency of FGL.

3.5

3.6

3.2

Books & Records

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

3.3

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report:

Avoidance of employee entitlements

Other matters

Our preliminary investigations have not identified any other matters requiring further investigation.

3.7 We further note our previous comments in the body of this Report that the merits of any uncommercial trading claim against FGL would, in any event, need to be considered carefully, due to the insolvency of FGL.

Breach of directors’ duties

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

Our investigations with respect to the above claims are continuing.

3.8

Report to ASIC

(a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.

3

Company Information

3.1

Statutory information

A search of the ASIC database revealed the following information.

3.1.1 Incorporation date and registered office Forge Group Construction Pty Ltd (FGC or the Company) was incorporated on 22 June 2005 is 100% owned by FGL. The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

Annexure 7

3.1.2 Company officers We table below the Company’s directors and officers during the past 12 months:

Forge Group Construction Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed) (FGC)

Name

Role

Appointment Date

Cessation Date

David Simpson Donald Montgomery Brett Smith Mark Rankmore Andrew Bell Glen Smith

Director Director Director Director Secretary Secretary

18 July 2012 17 December 2012 17 December 2012 5 December 2013 3 March 2011 9 April 2013

Current Current 25 November 2013 Current 9 April 2013 Current

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

3.1.3 Shareholders The ASIC database discloses there are 404 issued shares. These shares are fully paid and wholly owned by FGL.

3.1.4 Registered Security Interests Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR. There are 557 PPSR registrations against FGC as at 12pm on 11 February 2013. We have not summarised these below given the number of registrations, however a table of the registrations is enclosed at Annexure 4. Further, given the limited time available we have not undertaken a review of registrations in relation to their validity or otherwise. This review process is continuing. We note that ANZ Fiduciary Services Pty Ltd (ANZ) has an All Property and After Acquired Property security interest registered against FGC. We summarise the ANZ’s security position with respect to all entities within section 7 of this report.

The major projects of FGC at the time of our appointment include:

3.1.5 Deed of Cross Guarantee We confirm that the Company is subject to a Deed of Cross Guarantee (DXG) dated 5 May 2011.

ƒ

For completeness, we table below the entities subject to the DXG: Entities Subject to Deed of Cross Guarantee Forge Group Limited Forge Group Power Forge Group Construction Forge Group Minerals and Resources

3.1.6 Winding up applications At the date of our appointment there was no outstanding winding up application against the Company.

3.2

ƒ

Company history

FGC provided a full range of multidiscipline construction solutions, including civil & concrete; structural, mechanical, piping & tanks; electrical & instrumentation; and building. FGC was established in June 2005 and Cimeco Pty Ltd, an already established construction company, was acquired by FGL in 2006 and incorporated into FGC on 1 January 2013.

3.3

Summary of Key Projects

We have undertaken a preliminary review of the Group’s records and summarise below the key projects with respect to FGC:

Key Projects (FGC) Fuel Hubs (Brockman and West Angelas) FMG De-Sanding Plant Obuasi Yandi Sustaining Project Roy Hill Tan Burrup West Angeles Power Station Yarnima Power Station CBI Horizon Power Station

Scope of Works

Contract Value $M

EPC EPC EPC Structural Mechanical & Piping EPC Construction EPC EPC EPC EPC

52 46 24 105 830 18 60 65 91 41

ƒ

% Completed as at 31 Dec 2014 58% 98% 89% 5% 3% 0% 86% 86% 88% 85%

 The status of the above projects was tabled in the finance report presented to the Board of FGC during January 2014. We have note undertaken a full assessment of the above projects given the appointment of Receivers and Managers to FGC.

ƒ

The Solomon Ore Processing Facility, Civil and Concrete works with Fortescue Metals in Western Australia (FMG OPF): Ƒ

The construction of a Fire Tail ore processing facility and Kings Valley ore processing facility.

Ƒ

FGC provided the civil works and buried piping services at FMG Solomon and E&I Early Works.

Ƒ

The project was completed in September 2013 and provided totals revenues of $174m throughout the 18 months of the projects duration, with revenues of $3.3m recognised within the current financial year.

Ƒ

Costs for the project were $88m, with $6.7m of these recognised in the current financial year, leading to a loss on the project in the period up to January 2014 of $3.5m.

The Obuasi Gold Mine, EPC services, Anglo Gold Ashanti in Ghana, West Africa (Obuasi): Ƒ

The makeover of a treatment plant in Ghana, including the building of workshops and carbon-in-leach and flotation circuit replacement.

Ƒ

The contract was awarded in April 2012 and was expected to complete around 19 February 2014.

Ƒ

Total revenues expected from the project over the two years of the project’s life were $59.7m with $16.5m of that received in the period up to January 2014.

Ƒ

Costs for the project were $88m, with $6.7m of these recognised in the current financial year, leading to a loss on the project in the period up to January 2014 of $3.5m.

The APLNG Project, Civil and Concrete Services with CB&I in Queensland (CBI LNG): Ƒ

Engineering, detailing, fabrication, procurement, construction and testing of civil works associated with the construction of two identical full containment LNG storage tanks in Queensland.

Ƒ

The project was awarded to FGC in March 2012 and was expected to complete in April 2014.

Ƒ

Total revenues expected from the project over the two years of the project’s life were $91.7m with $21.7 of those received in the year to January 2014, with another $11.1m expected to be received prior to completion in April 2014.

Ƒ

Costs of the project were expected to be $86.8m with $25.2m of those paid in the year to January 2014, with another $10.5m expected to be paid prior to completion in April 2014.

The Roy Hill project working with Samsung C&T (Roy Hill): Ƒ

At the time of appointment the largest project in terms of expected revenue.

Ƒ

The provision of EPC services to a mining process plant in Western Australia.

Ƒ

The contract awarded in 30 August 2013 was expected to complete in December 2015 and had total budgeted revenues of $830m for Forge Group Construction.

Ƒ

In the year to date to January 2014, $31m had been recognised, leaving $799m expected over the following two years of the project.

In respect of the above, we have broken down the material accounts shown above for the seven month period to 31 January 2014 as follows:

Ƒ

Expected costs of the project were $771m, leaving an expected margin of the project of 7.1%.

ƒ

Revenue: Revenue

3.4

Decision to appoint Administrators

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

4

Historical financial information

4.1

Preparation of financial statements

WIP Income Intercompany Income Total

ƒ

WIP income is generated through the projects as set out above in the summary of key projects and intercompany income is discussed in more detail in the investigations section below.

ƒ

Cost of Sales relate to the ongoing costs of completing FGC’s contracts and can be summarised as follows: Cost of Sales

As a subsidiary to a listed entity, FGC had prepared audited financial reports for the years ending 30 June 2012 and 2013.

WIP - Labour Materials/Stock Variance WIP - Materials WIP - Equipment Hire WIP - Subcontractors Total

At the date of appointment, Forge Group was in the process of finalising its half year financial accounts and its monthly management reports as at 31 January 2014. Forge prepared monthly management accounts, cash flows and reports on a group basis. Forge also maintained the following at a subsidiary level:

Period to 31 January 2014 $'000 (201,888) (65,824) (267,712)

Period to 31 January 2014 $'000 (134,280) (174) (86,793) (14,052) (79,562) (314,861)

ƒ

The major line items making up the expenses of $5.5m are the management fees ($1.6m) and salaries and wages of management ($1.2m).

12 month profit and loss accounts and cash flows.

4.3

Balance sheet and preliminary analysis

Profit and loss statements and preliminary analysis

Set out below is a summary of the Company’s balance sheet (extracted from the consolidated management accounts) as at:

ƒ

Monthly management trading accounts.

ƒ

4.2

Set out below is a summary of FGC’s profit and loss statement (extracted from the consolidated management accounts) for the:

ƒ

30 June 2012

ƒ

Full year ended 30 June 2012

ƒ

30 June 2013

ƒ

Full year ended 30 June 2013

ƒ

31 January 2014

ƒ

Seven months ending 31 January 2014 Profit and Loss (Unaudited) $’000 Revenue Cost of Sales Overheads Asset Recovery Gross Profit/(Loss) Expenses

Period to 31 January 2014

Year to 30 June 2013

Year to 30 June 2012

267,712

607,293

453,006

(314,861)

(271,781)

(227,293)

(31,220)

(217,501)

(168,369)

22,621

(998)

(91)

(55,748)

117,013

57,253

(5,513)

(9,424)

1,332

Operating Profit/(Loss)

(61,261)

107,588

58,585

Other Income

(33,080)

Profit/(Loss) Before Tax

(94,341)

107,588

58,585

(3,558)

(31,101)

(17,939)

(97,899)

76,487

40,645

Tax (expense)/Income Profit/ (Loss) After Tax

-

-

ƒ Consolidated Balance Sheet (Unaudited) As at 31 January 2014 $’000 Current Assets Cash & Cash Equivalents (3,183) Trade and Other Receivables 39,419 Inventory 23,619 Other Assets (34,722) Total Current Assets 25,133 Current Liabilities Trade and Other Payables 125,585 Inter Company Loans (57,605) Other Liabilities 23,895 Current Liabilities 91,875 Net Current Assets/(Liabilities) (66,742) Non Current Assets Property, Plant and Equipment 57,899 Other Assets 24 Total Non Current Assets 57,923 Non Current Liabilities Provisions 361 Other Liabilities 11,879 Total Non Current Liabilities 12,241 Net Assets/(Liabilities) (21,060) Equity Contrubuted Equity 3,600 Reserves (24,660) Total Equity (21,060)

As at 30 June 2013 As at 30 June 2012 5,092 42,245 28,520 162 76,019

120 143,886 9,666 856 154,527

67,747 (38,921) 14,728 43,553 32,465

189,311 (130,978) 9,274 67,607 86,920

59,013 3,588 62,601

59,271 5,152 64,423

326 14,407 14,733 80,334

203 17,192 17,395 133,948

3,600 76,734 80,334

3,600 130,348 133,948

Other Current Assets Prepayments Security Deposit Investments Total

Trade and other receivables include: Trade and Other Receivables Trade Debtors Provision for Doubtful Debts Total

ƒ

The major item within Other Current Assets is the investment in the CPL Joint Venture.

ƒ

The CLP Joint Venture is an arrangement between Cimeco (now FGC) and Pilbara Logistics (WA) Pty Ltd to combine to submit a tender for the project known as Finucane Island Port NPI Phase 1.

ƒ

This project was the design and construction of a None-Process Infrastructure Contract including but not limited to design, manufacture, supply, testing, installation, construction and commissioning of the NPI buildings and support facilities.

ƒ

The contract was executed in May 2012 and the client was BHP Billiton Iron Ore and its joint venture partners.

ƒ

Trade and other payables includes: Trade and Other Payables Trade Creditors Control Income in Advance GST Clearing Suspense Account Accrued Expenses Total

ƒ As at 31 January 2014 $'000 39,644 (224) 39,419

Current Period 30 Days 60 Days 90 Days + Total

As at 31 January 2014 $’000 9,576 5,644 9,695 14,730 39,644

ƒ

Trade debtors over 60 days old amount to over 62% of total trade debtors. Despite this, the provision for doubtful debts was only 1% of total trade debtors.

ƒ

Though we have not been able to form a view at this stage, it is uncertain whether all of these debtors will now be collectable given the termination of various customer contractors and liquidated damages claims / offset that may now become available.

As at 31 January 2014 $'000 44,862 49,629 70 31,024 125,585

A further breakdown of the trade creditors is as follows: Creditors’ Ageing Current 30 Days 60 Days 90 Days + Total

An ageing of the trade debtors is as follows: Debtors Ageing

As at 31 January 2014 $'000 577 147 (35,446) (34,722)

ƒ

In respect of the above, we have broken down the material accounts shown above for the seven month period to 31 January 2014 as follows: ƒ

Other current assets includes:

As at 31 January 2014 $’000 (8,604) (23,064) (11,042) (2,152) (44,862)

ƒ

We note, as outlined above over 70% of trade creditors are less than 60 days overdue.

ƒ

The material item within accrued expenses is projects/overhead accruals of $14.3m.

ƒ

Other liabilities comprise of the following: Other Liabilities Hire Purchase Unexpired Interest Insurance Financing Provision for Annual Leave Provision for Long Service Leave (C) Total

As at 31 January 2014 $'000 12,120 (1,130) 567 11,913 424 23,895

ƒ

ƒ

ƒ

The hire purchase costs relate to financiers for the hire of equipment including, but not limited to: Ƒ

Light vehicles

Ƒ

Water trucks

Ƒ

Busses

Ƒ

Generators

Ƒ

Lighting towers Toyota Fleet Management

Ƒ

Commonwealth Bank

Ƒ

Westpac

Ƒ

ANZ

In their correspondence to us, the directors requested an extension for the following reasons: “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records.

Property, plant and equipment includes: Property, Plant and Equipment Plant & Equipment at cost Acc Depr Plant & Equipment Computers & Software Acc Depr Computers & Software Office Furniture & Equipment - At Cost Accum Depreciation - Office Furn & Equip Motor Vehicles Accum Depn Motor Vehicles Land & Buildings Leasehold Improvements Acc Depn Leasehold Improvements Asset Acquisition Clearing Total

As at 31 January 2014 $'000 63,765 (17,730) 3,980 (2,976) 2,321 (537) 9,301 (4,009) 1,246 3,725 (1,227) 39 57,899

ƒ

The book value of property, plant and equipment is shown at cost less accumulated depreciation.

ƒ

Contributed equity includes: Contributed Equity Paid Up Capital Total

ƒ ƒ

ƒ

$'000 3,600 3,600

Reserves is comprised of the following:

Options Reserve Retained Earnings(Prior Years) Dividends Paid Accumulated Profits (Losses)-This Year Total

In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.”  The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

5

Statutory investigations

5.1

Preliminary Solvency Assessment

5.1.1 Working Capital Position We summarise below the working capital position of FGC as at 30 June 2012, 30 June 2013 and 31 January 2014: Capital Working Capital Total Current Assets Total Current Liabilities Working Capital Working Capital Ratio

As at 31 January 2014

Paid up capital is the amount of funds that has been paid into FGC by its shareholder, FGL. Reserves

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”).

The major financiers include: Ƒ

4.4

As at 31 January 2014 $'000 300 203,287 (130,348) (97,899) (24,660)

As at 31 January 2014 FGC had negative reserves of $24.6m primarily due to losses this year of $98m.

As at 31 January 2014 $'000 25,133 149,480 (124,347) 0.17

As at 30 June 2013 $'000 76,019 82,474 (6,456) 0.92

As at 30 June 2012 $'000 154,527 190,062 (35,535) 0.81

ƒ

The above table excludes the effect of intercompany loans.

ƒ

Further, the above table demonstrates a significant decline in working capital held by the Company. Between the period 30 June 2013 and 31 January 2014, the working capital ratio declined from 0.81 down to 0.17.

ƒ

Based on the working capital position, the Company had a severe current asset deficiency and as such, it appears that the only way it continued to trade was through the depletion of its cash reserves and as a result of heavy borrowing from FGL, and other related and external parties.

5.1.2 Aged (Trade) Creditor Analysis Category Aged Payables

Current

30 Days

60 Days

90 Days +

Total

1,505,033

21,243,180

24,847,872

12,151,212

59,747,297

Aged Payables exc ATO debt

ƒ

5.1.6 Director Liability

392,112

16,303,172

18,274,610

7,063,378

42,033,272

Percentage of total Creditors

2.52%

35.56%

41.59%

20.34%

100%

Percentage exl GST

0.93%

38.79%

43.48%

16.80%

100%

The above table illustrates the ageing of the creditors of the Company as at 31 January 2013, both inclusive and exclusive of the ATO liabilities outstanding by the Company. As above, the majority of the outstanding trade liabilities were incurred within the months preceding the appointment of Administrators, with minimal trade creditors (aside from the ATO), falling within the 90+ day category.

Having regard to the above comments, we have had insufficient time to fully consider the solvency position of FGC on a standalone basis, and accordingly we have not formed an opinion as to whether an insolvent trading claim may exist against the directors. We note that a liquidator would conduct further investigations in this regard.

5.1.7 Holding Company Liability Section 588V of the Act provides that the holding company may be held liable for the debts of a subsidiary in certain circumstances. FGC is 100% owned by FGL, however there may not be any commercial benefit in pursuing an insolvent trading claim against the parent entity (if such exists) due to the insolvency of FGL.

ƒ

A similar pattern emerged in the Company’s December aged payables. Prior to this 90% of aged payables were either current or within the 30 days allocation.

We further note our previous comments in the body of this Report that the merits of any uncommercial trading claim against FGL would, in any event, need to be considered carefully, due to the insolvency of FGL.

ƒ

We note that the Group entered into a payment arrangement with the ATO in respect of certain outstanding PAYG debts included above. We comment further in relation to the same in the body of this report.

5.2

Based on the above analysis, it would appear the Company has been having issue paying its creditors as and when they fell due since at least early December 2013.

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

ƒ

5.1.3 Intercompany Loans

5.3

The intercompany loans for the Entity for the period 30 June 2012 to 31 January 2013 are summarised below: As at 31 January 2014 $'000

As at 30 June 2013 $'000

As at 30 June 2012 $'000

(57,605)

(38,921)

(130,978)

Inter Company Loans

ƒ

Given the time limitations, we have not yet been able to verify the timing and recipient of the aggregate of these loans.

5.1.4 Demands, Writs & Summons A search of the records has indicated one (1) writ issued against the Company by HD Plasma & Laser Cutting Services Pty Ltd on 11 February 2014 in the amount of $7,573.

Notwithstanding this view, there are a number of defences available to the directors in relation to insolvent trading given the work undertaken to restructure the Group and secure further capital. Accordingly, further work would need to be undertaken by a liquidator to consider the commerciality of a claim against the directors with respect to insolvent trading.

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report: (a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.

5.1.5 Preliminary Determination of Date of Insolvency Further to our comments in section 7.3.5 of this report, based on our preliminary investigations to date, we are of the opinion that the FGC may have been insolvent as early as November 2013. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency.

Books & Records

5.4

Breach of directors’ duties

We have not identified any breaches of director’s duties in relation to the Company, however our investigations are ongoing.

5.5

Avoidance of employee entitlements

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

5.6

Other matters

Our preliminary investigations have not identified any other matters requiring further investigation.

5.7

Annexure 8

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

Our investigations with respect to the above claims are continuing.

5.8

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

Forge Group Minerals & Resources Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed) (FGMR)

1

Company Information

1.1.5 Deed of Cross Guarantee

1.1

Statutory information

We confirm that the Company is subject to a Deed of Cross Guarantee (DXG) dated 5 May 2011.

A search of the ASIC database revealed the following information. For completeness, we table below the entities subject to the DXG:

1.1.1 Incorporation date and registered office Entities Subject to Deed of Cross Guarantee

Forge Group Minerals & Resources Pty Ltd (FGMR or the Company) was incorporated on 8 April 2005 and is 100% owned by Forge Group Limited.

Forge Group Limited Forge Group Power Forge Group Construction Forge Group Minerals and Resources

The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

1.1.6 Winding up applications

1.1.2 Company officers

At the date of our appointment there was no outstanding winding up application against the Company.

The Company’s officers over the past 12 months were: Name David Simpson Donald Montgomery Brett Smith Mark Rankmore Andrew Bell Glen Smith

Role Director Director Director Director Secretary Secretary

Appointment Date 18 July 2012 17 December 2012 17 December 2012 5 December 2013 3 March 2011 9 April 2013

Cessation Date Current Current 25 November 2013 Current 9 April 2013 Current

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

1.1.3 Shareholders

1.2

Company history

FGMR provided engineering; process design; project management services including feasibility studies, front end engineering design, engineering, procurement, construction contract execution; and turnkey project solutions. FGMR changed its name from Abesque Engineering Pty Ltd on 1 January 2013. Abesque Engineering was acquired by the Forge Group in 2008.

1.3

Summary of Key Projects

We have undertaken a preliminary review of the Group’s records and summarise below the key projects with respect to FGMR:

The ASIC database discloses there are 4,000,000 issued shares. These shares are fully paid and wholly owned by FGL.

Key Projects (FGMR)

1.1.4 Registered Security Interests

Obuasi Dugald River

Scope of Works EPC EPC

Contract Value $M 20 34

% Completed as at 31 Dec 2014 99% 94%

Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR.

 The status of the above projects was tabled in the finance report presented to the Board during January 2014.

There are 113 PPSR registrations against FGMR as at 12pm on 11 February 2013. We have not summarised these below given the number of registrations, however a table of the registrations is enclosed as Annexure 4.

We have not undertaken a full assessment of the above projects given the appointment of Receivers and Managers to FGMR.

Further, given the limited time available we have not undertaken a review of registrations in relation to their validity or otherwise. This review is continuing.

One of the major projects by FGMR follows: ƒ

We note that ANZ Fiduciary Services Pty Ltd (ANZ) has an All Property and After Acquired Property security interest registered against FGMR. We summarise the ANZ’s security position with respect to all entities within section 7 of this report. 

The Dugald River Project (Dugald River): Ƒ

The design, procurement and construction of the processing facilities for the lead/zinc/silver concentrator with MMG Dugald River Pty Ltd in Queensland.

Ƒ

The contract was awarded in July 2012 with an original completion date of June 2015, however this was amended to November 2013.

Ƒ

The original budget was for revenue of $281m with costs of $246m.

1.4

Ƒ

The client, MMG, issued a notice of termination for convenience effective 26 September 2013.

In respect of the above, we have broken down the material accounts shown above for the seven month period to 31 January 2013 as follows:

Ƒ

A closeout services agreement was executed for the period from 26 September 2013 to 31 December 2013 which was extended to 28 February 2014.

ƒ

Ƒ

Due to this, revenues from the project in the period to January 2014 were $34m with costs of $23.7m.

Decision to appoint Administrators

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

2

Historical financial information

2.1

Preparation of financial statements

Revenue: Revenue WIP Income Intercompany Income Total

Period to 31 January 2014 $'000 18,291 10,491 28,782

ƒ

The WIP income for FGMR is primarily made up of the Dugald River project’s closeout services revenue.

ƒ

Cost of Sales relate to the ongoing costs of completing FGMR’s contracts and can be summarised as follows: Cost of Sales WIP - Labour WIP - Materials WIP - Subcontractors Total

Period to 31 January 2014 $'000 (9,551) (2,472) (6,730) (18,752)

As a subsidiary of a listed entity, FGMR had prepared audited financial reports for the years ending 30 June 2012 and 2013.

ƒ

The major line item making up the expenses of $3.7m is the salaries and wages of management ($1.4m).

At the date of appointment, Forge Group was in the process of finalising its half year financial accounts and its monthly management reports as at 31 January 2014.

2.3

Balance sheet and preliminary analysis

Forge prepared monthly management accounts, cash flows and reports on a group basis. Forge also maintained the following at a subsidiary level:

Set out below is a summary of the Company’s balance sheet (extracted from the consolidated management accounts) as at:

ƒ

Monthly management trading accounts.

ƒ

30 June 2012

ƒ

12 month profit and loss accounts and cash flows.

ƒ

30 June 2013

Profit and loss statements and preliminary analysis

ƒ

31 January 2014

2.2

Set out below is a summary of FGMR’s profit and loss statement (extracted from the consolidated management accounts) for the: ƒ

Full year ended 30 June 2012

ƒ

Full year ended 30 June 2013

ƒ

Seven months ending 31 January 2014 Profit and Loss (Unaudited) $’000 Revenue Less: Cost of Sales Overheads Asset Recovery Gross Profit/(Loss) Gross Profit/(Loss) Percentage Expenses Operating Profit/(Loss) Other Income Profit/(Loss) Before Tax Tax (expense)/Income Profit/ (Loss) After Tax

Period to 31 January 2014 28,782 (18,752) 97 10,128 35.19% (3,769) 6,359 656 7,014 (254) 6,760

Year to 30 June 2013 96,576 (72,916) (21,993) (0) 1,666 1.73% 6 1,672 1,672 (456) 1,216

Year to 30 June 2012 126,372 (56,759) (65,107) (31) 4,476 3.54% (19) 4,456 4,456 (1,346) 3,111

Consolidated Balance Sheet (Unaudited) $’000 Current Assets Cash & Cash Equivalents Trade and Other Receivables Inventory Other Assets Total Current Assets Current Liabilities Trade and Other Payables Inter Company Loans Other Liabilities Current Liabilities Net Current Assets/(Liabilities) Non Current Assets Property, Plant and Equipment Other Assets Total Non Current Assets Non Current Liabilities Provisions Other Liabilities Total Non Current Liabilities Net Assets/(Liabilities) Equity Contrubuted Equity Reserves Total Equity

ƒ

2.4

As at 31 January 2014

As at 30 June 2013

As at 30 June 2012

(250) 9,953 1,366 196 11,265

46,811 12,900 3,334 4 63,049

5,858 28,010 2,814 188 36,871

6,144 (8,518) 531 (1,843) 13,108

10,435 46,462 26 56,923 6,126

32,497 (8,062) 45 24,480 12,391

537 2 538

646 256 903

944 288 1,232

120 120 13,527

112 1 113 6,916

208 1 209 13,414

2,000 11,527 13,527

2,000 4,916 6,916

2,000 11,414 13,414

At the time of this report we had insufficient information to perform a detailed analysis of the items within the FGMR accounts, however on the face of the information that we have received the net asset position Improved.

3

Statutory investigations

3.1

Preliminary Solvency Assessment

3.1.1 Working Capital Position We summarise below the working capital position of FGMR as at 30 June 2012, 30 June 2013 and 31 January 2014: Capital Working Capital Total Current Assets Total Current Liabilities Working Capital Working Capital Ratio

As at 31 January 2014 $'000 11,265 6,675 4,590 1.69

As at 30 June 2013 $'000 63,049 10,461 52,588 6.03

As at 30 June 2012 $'000 36,871 32,542 4,329 1.13

The above table excludes the effect of intercompany loans. As at 30 June 2013, FGMR had outstanding intercompany loans in the amount of $46M, with Cash and Cash Equivalents in the amount of $46.8m. By 31 January 2014 the Company had depleted its cash reserves and its intercompany loans receivable had become a loans payable in the amount of $8m.

3.1.2 Aged (Trade) Creditor Analysis Category

Current

30 Days

60 Days

90 Days+

Total

Aged Payables

14,298

227,285

585,705

2,101,784

2,929,072

Aged Payables exc ATO debt

14,298

226,321

565,446

1,459,714

2,265,779

Percentage of total Creditors

0.49%

7.76%

20.00%

71.76%

100%

Percentage exl GST

0.63%

9.99%

24.96%

64.42%

100%

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”). In their correspondence to us, the directors requested an extension for the following reasons: “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records. In these circumstances I request that directors of Forge Group Limited be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.” The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

The above table illustrates the ageing of the liabilities of the Company as at 31 January 2013, both inclusive and exclusive of the tax liabilities outstanding for the Company. Unlike the rest of the Companies in the Group, FGMR has large outstanding liabilities which have progressed to be 90 days or older. Initial analysis of this seems to indicate that FGMR was directing its cash reserves to other areas of the Group, leading to a cash shortage to pay its own Creditors. We table a summary of the largest creditors in the 90 day plus category below: FGMR – Largest 5 Creditors Australian Tax Office - PAYG Weir Minerals Australia Ltd Mining & Hydraulic Supplies Eilbeck Cranes Diverse Contracting Solutions Other Total

90+ days $’000 642 507 228 120 96 509 1,593

We note that the Group entered into a payment arrangement with the ATO in respect of certain outstanding PAYG debts included above. We comment further in relation to the same in the body of this report. Based on the ageing analysis, the Company has been facing difficulty in paying its creditors as and when they fall due since at least early November 2013.

3.2

Books & Records

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

3.3

Potential Liquidator Recoveries – voidable transactions

3.1.3 Intercompany Loans The intercompany loans for the Entity for the period 30 June 2012 to 31 January 2013 are summarised below:

Inter Company Loans

As at 31 January 2014 $'000 (8,518)

As at 30 June 2013 $'000 46,462

As at 30 June 2012 $'000 (8,062)

Given the time limitations, we have not yet been able to verify the timing and recipient of the aggregate of these loans.

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report: (a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.

3.4

Breach of directors’ duties

3.1.4 Demands, Writs & Summons A search has not identified any writs, summons or defaults on the entity’s credit record.

3.1.5 Preliminary Determination of Date of Insolvency Further to our comments in section 7.3.5 of this report, based on our preliminary investigations to date, we are of the opinion that the FGMR may have been insolvent as early as November 2013. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency. Notwithstanding this view, there are a number of defences available to the directors in relation to insolvent trading given the work undertaken to restructure the Group and secure further capital. Accordingly, further work would need to be undertaken by a liquidator to consider the commerciality of a claim against the directors with respect to insolvent trading.

3.1.6 Director Liability Having regard to the above comments, we have had insufficient time to fully consider the solvency position of FGMR on a standalone basis, and accordingly we have not formed an opinion as to whether an insolvent trading claim may exist against the directors. We note that a liquidator would conduct further investigations in this regard.

We have not identified any breaches of director’s duties in relation to the Company. However our investigations in this regard are continuing.

3.5

Avoidance of employee entitlements

3.1.7 Holding Company Liability

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

Section 588V of the Act provides that the holding company may be held liable for the debts of a subsidiary in certain circumstances.

3.6

FGMR is 100% owned by FGL, however there may not be any commercial benefit in pursuing an insolvent trading claim against the parent entity (if such exists) due to the insolvency of FGL. We further note our previous comments in the body of this Report that the merits of any insolvent trading claim against FGL would, in any event, need to be considered carefully, due to the insolvency of FGL.

Other matters

Our preliminary investigations have not identified any other matters requiring further investigation.

3.7

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

Our investigations with respect to the above claims are continuing.

3.8

Annexure 9

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

Forge Group Asset Management Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed) (FGAM)

1

Company Information

1.1

Statutory information

There are 14 PPSR registrations against FGAM, summarised below: Registration No 2013307020066645 201307250059340 201307310062857 201307310062971 201307070036066 201309030054599 201309050070869 201309130025284 201309200012955 201310240048242 201311070046357 201311130076371 201311130076448 201311280018527

A search of the ASIC database revealed the following information.

1.1.1 Incorporation date and registered office Forge Group Asset Management Pty Ltd (FGAM or the Company) was incorporated on 4 December 2012 and is 100% owned by FGL. The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

1.1.2 Company officers The Company’s officers over the past 12 months were:

PMSI

Transitional

Migrated

Unknown Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes

No No No No No No No No No No No No No No

No No No No No No No No No No No No No No

Collateral Class

Secured Party

ALLPAAP Motor Vehicle Motor Vehicle Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods Other Goods

ANZ Fiduciary Services Fleet Partners Access Hire and Related companies Access Hire and Related companies R & L Baxter Nominnees Esco Australia Holdings Orrcon Operations Coventry Group BOC Limited Onesteel and Related companies Waco Kwickform Ltd Fero Group and related companies Fero Group and related companies Fero Group and related companies

Table 3: Company Officers Name

Role

Appointment Date

Cessation Date

David Simpson

Director

4 December 2012

-

Donald Montgomery

Director

4 December 2012

-

Brett Smith

Director

4 December 2012

25 November 2013

Mark Rankmore

Director

5 December 2013

-

Andrew Bell

Secretary

4 December 2012

9 April 2013

Glen Smith

Secretary

9 April 2013

-

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

Given the limited time available, we have not undertaken a review of the above security interests with respect to the validity or otherwise of the same. The security interests of all entities are summarised at Annexure 4 of this report. We note that ANZ Fiduciary Services Pty Ltd (ANZ) has an All Property and After Acquired Property security interest registered against FGAM. We summarise the ANZ’s security position with respect to all entities within section 7 of this report.

1.1.5 Winding up applications

1.1.3 Shareholders

At the date of our appointment there was no outstanding winding up application against the Company.

The ASIC database discloses there is 1 issued share. This share is fully paid and wholly owned by FGL.

1.2

1.1.4 Registered Security Interests

FGAM was a new division of the Forge Group which was established in 2013.

Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR.

Company history

The target market was to focus on the emerging maintenance and capital expenditure environment focusing of the following services: ƒ

Operations and Maintenance –Maximising asset reliability and availability, minimising operation costs and maintaining industry safety standards. Services include preventative maintenance, shutdown and corrective maintenance services, asset performance and condition monitoring.

ƒ

Maintenance and Capital Works Services – Provide SMP, E&I, civil and building maintenance support services to power stations, petrochemical plants, minerals processing plants.

1.3

Summary of Key Projects Consolidated Profit and Loss (Unaudited) $’000

We have undertaken a preliminary review of the Group’s records and summarise below the key projects with respect to FGAM:

Revenue Key Projects (FGAM) Water Corp Forge - Yarnima Pipework

Scope of Works Asset Management Program

Contract Value $M 6 2

Less: Cost of Sales

% Completed as at 31 Dec 2014

Overheads

90% 99%

Asset Recovery

Preparation of financial statements

FGL prepared monthly management accounts, cash flows and reports on a Group basis. FGAM also maintained the following at a subsidiary level: ƒ

Monthly management trading accounts.

ƒ

12 month profit and loss accounts and cash flows.

2.2

Profit and loss statements and preliminary analysis

-

(2,275)

-

-

Operating Profit/(Loss)

(2,863)

-

-

0

-

-

ƒ

Full year ended 30 June 2013

ƒ

Period ending 31 January 2014

-

(2,863)

-

-

0

-

-

(2,863)

-

-

FGAM was newly established during 2013 and accordingly there are no balances with respect to transactions during the periods ending 30 June 2012 and 30 June 2013. In respect of period ending 31 January 2014, we have broken down the material accounts shown above as follows: ƒ

Revenue includes: Revenue WIP Income Scrap Metal Total

Period to 31 January 2014 $'000 17,817 8 17,825

ƒ

FGAM was engaged on a number of contracts, including engagements by the Water Corp, Cockburn Cement, BP Broome and other Forge Group projects.

ƒ

The above revenue pertains to income derived on the above contracts for the period ending 31 January 2014.

ƒ

Cost of Sales relate to the ongoing costs of completing FGAM’s contracts and can be summarised as follows: Cost of Sales

Full year ended 30 June 2012

-

Expenses

Profit/ (Loss) After Tax

Set out below is a summary of FGAM’s profit and loss statement (extracted from the consolidated management accounts) for the: ƒ

-

-

Profit/(Loss) Before Tax

As a subsidiary of a listed entity, FGAM had prepared audited financial reports for the years ending 30 June 2012 and 2013. At the date of appointment, the FGL was in the process of finalising its half year financial accounts and its monthly management reports as at 31 January 2014.

-

(1,421)

-

Tax (expense)/Income

2.1

-

(3.30%)

1.4

Historical financial information

-

-

Other Income

2

-

17,825 (16,993)

-

We have note undertaken a full assessment of the above projects given the appointment of Receivers and Managers to FGAM.

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

Year to 30 June 2012

-

Gross Profit/(Loss) Percentage

Decision to appoint Administrators

Year to 30 June 2013

(589)

Gross Profit/(Loss)

The status of the above projects was tabled in the finance report presented to the Board during January 2014.

Period to 31 January 2014

WIP - Labour Materials/Stock Variance WIP - Materials WIP - Equipment Hire WIP - Subcontractors Total

Period to 31 January 2014 $'000 (9,202) (1) (3,680) (1,455) (2,656) (16,993)

ƒ

The largest component of the above cost of sales pertains to wages which equates to 55% of the above.

ƒ

The major line item making up the expenses of $2.3m is the salaries and wages of management ($1.7m).

2.3

Balance sheet and preliminary analysis

Set out below is a summary of the Company’s balance sheet (extracted from the consolidated management accounts) as at: ƒ

30 June 2013

ƒ

31 January 2013 Consolidated Balance Sheet (Unaudited) $’000 Current Assets Cash & Cash Equivalents Trade and Other Receivables Inventory Other Assets Total Current Assets Current Liabilities Trade and Other Payables Inter Company Loans Other Liabilities Current Liabilities Net Current Assets/(Liabilities) Non Current Assets Property, Plant and Equipment Other Assets Total Non Current Assets Non Current Liabilities Provisions Other Liabilities Total Non Current Liabilities Net Assets/(Liabilities) Equity Contributed Equity Reserves Total Equity

As at 31 January 2014

As at 30 June 2013

As at 30 June 2012

826 645 998 46 2,515

-

-

2,170 3,066 210 5,446 (2,930) 132 132

-

-

65 65 (2,863)

-

-

(2,863) (2,863)

-

-

FGAM was newly established during 2013 and accordingly there are no balances with respect to transactions during the periods ending 30 June 2012 and 30 June 2013.

Trade and other payables include:

ƒ

FGAM incurred a loss in the amount of $2.8m for the period ending 31 January 2013.

2.4

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”). In their correspondence to us, the directors requested an extension for the following reasons: “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records. In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.”  The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

3

Statutory investigations

3.1

Preliminary Solvency Assessment

3.1.1 Working Capital Position We summarise below the working capital position of FGAM as at 30 June 2012, 30 June 2013 and 31 January 2014: Capital Working Capital

Trade and Other Payables Trade Creditors Control GST Clearing Suspense Account Accrued Expenses Total

ƒ

As at 31 January 2014 $'000 (2,863) (2,863)

Accumulated Profits (Losses)-This Year Total

In respect of period ending 31 January 2014, we have broken down the material accounts shown above as follows: ƒ

Reserves: Reserves

30 June 2012

ƒ

ƒ

ƒ

As at 31 January 2014 $'000 880 (26) (3) 1,319 2,170

The above pertains to trade creditors incurred in the provision of asset management services and the relevant accruals with respect to the same.

Total Current Assets Total Current Liabilities Working Capital Working Capital Ratio

As at 31 January 2014 $'000 2,515 5,446 (2,930) 0.46

As at 30 June 2013 $'000 N/A N/A N/A

As at 30 June 2012 $'000 N/A N/A N/A

As the Group only acquired FGAM on 3 July 2013, there is no comparative historical data for the Company. Based on the information available as at 31 January 2014, the Company had a current assets deficiency and may have been unable to meet its current liabilities.

3.1.7 Holding Company Liability 3.1.2 Aged (Trade) Creditor Analysis Category

Current

Section 588V of the Act provides that the holding company may be held liable for the debts of a subsidiary in certain circumstances. 30 Days

60 Days

90 Days+

Total

Aged Payables

899

124,432

682,370

670,442

1,478,143

Aged Payables exc ATO debt

899

111,250

496,512

485,491

1,094,152

Percentage of total Creditors

0.06%

8.42%

46.16%

45.36%

100%

Percentage exl GST

0.08%

10.17%

45.38%

44.37%

100%

The above table illustrates the ageing of the liabilities of the Company as at 31 January 2013, both inclusive and exclusive of the tax liabilities outstanding for the Company. We note that the Group entered into a payment arrangement with the ATO in respect of certain outstanding PAYG debts included above. We comment further in relation to the same in the body of this report.

3.1.3 Intercompany Loans The intercompany loans for the Entity for the period 30 June 2012 to 31 January 2013 are summarised below: As at 31 January 2014 $'000

As at 30 June 2013 $'000

As at 30 June 2012 $'000

3,066

N/A

N/A

FGAM is 100% owned by FGL, however there may not be any commercial benefit in pursuing an insolvent trading claim against the parent entity (if such exists) due to the insolvency of FGL. We further note our previous comments in the body of this Report that the merits of any uncommercial trading claim against FGL would, in any event, need to be considered carefully, due to the insolvency of FGL.

3.2

Books & Records

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

3.3

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report: (a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

Given the time limitations, we have not yet been able to verify the timing and recipient of the aggregate of these loans.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

3.1.4 Demands, Writs & Summons

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.

3.4

Breach of directors’ duties

Inter Company Loans

A search has identified any writs, summons or defaults on the entity’s credit record.

3.1.5 Preliminary Determination of Date of Insolvency Further to our comments in section 7.3.5 of this report, based on our preliminary investigations to date, we are of the opinion that the FGAM may have been insolvent as early as November 2013. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency. Notwithstanding this view, there are a number of defences available to the directors in relation to insolvent trading given the work undertaken to restructure the Group and secure further capital. Accordingly, further work would need to be undertaken by a liquidator to consider the commerciality of a claim against the directors with respect to insolvent trading.

3.1.6 Director Liability Having regard to the above comments, we have had insufficient time to fully consider the solvency position of FGAM on a standalone basis, and accordingly we have not formed an opinion as to whether an insolvent trading claim may exist against the directors. We note that a liquidator would conduct further investigations in this regard.

We have not identified any breaches of director’s duties in relation to the Company. However our investigations are ongoing in this regard.

3.5

Avoidance of employee entitlements

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

3.6

Other matters

Our preliminary investigations have not identified any other matters requiring further investigation.

3.7

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

Our investigations with respect to the above claims are continuing.

3.8

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

Annexure 10 Forge Group International Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed) (FGI)

1

Company Information

1.2

Company history

1.1

Statutory information

FGI was established in November 2007 as a vehicle to acquire international businesses.

A search of the ASIC database revealed the following information.

The below entities were created to facilitate the acquisition of Taggart which occurred during August 2013.

1.1.1 Incorporation date and registered office

ƒ

Forge Group Ventures Inc (Canada).

Forge Group International Pty Ltd (FGI or the Company) was incorporated 19 November 2007 and is 100% owned by FGL.

ƒ

Forge Group Inc. (USA) (which in turn owns a series of international operations in Africa and North America).

The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

ƒ

Forge Group Asia Pte Ltd (Singapore).

Taggart Global was formerly known as Sedgman USA LLC and was founded in 1993. Taggart is headquartered in Pittsburgh, Pennsylvania and has operations in North America, Africa, Asia and Australia.

1.1.2 Company officers The Company’s officers over the past 12 months were: Table 3: Company Officers Name David Simpson Donald Montgomery Brett Smith Mark Rankmore Andrew Bell Glen Smith

Role Director Director Director Director Secretary Secretary

Appointment Date 9 July 2012 24 September 2013 24 September 2013 5 December 2013 22 September 2010 9 April 2013

Cessation Date Current Current 25 November 2013 Current 9 May 2013 Current

Taggart’s business is focused on the design, construction, commissioning, operations and maintenance, to deliver turnkey solutions for clients in coal production, power generation, steel making and material handing sectors. Revenue services are focused on engineering, procurement, construction, project management, asset management, operations and maintenance. As at the date of acquisition, Taggart operated and maintained 12 clean coal plants for US power utilities and 13 coal handling preparation plants in the US. Taggart can be broken down into the following major divisions:

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

1.1.3 Shareholders

ƒ

Northern American EPC

ƒ

Coal Handling Prep-plant

ƒ

Operation and Maintenance

The ASIC database discloses that there are 2 issued shares. These shares are fully paid and wholly owned by FGL.

ƒ

Utilities Operations

1.1.4 Registered Security Interests

ƒ

China Equipment

Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR.

ƒ

China Global Sourcing

ƒ

South African EPC

We note that ANZ Fiduciary Services Pty Ltd (ANZ) has an All Property and After Acquired Property security interest registered against FGI. We summarise the ANZ’s security position with respect to all entities within section 7 of this report.

1.1.5 Winding up applications At the date of our appointment there was no outstanding winding up application against the Company.

We refer to section 7.6 of the report regarding our commentary on the Forge Group’s acquisition of Taggart. We confirm that the international subsidiaries are not subject to any formal insolvency regimes in any jurisdictions and are operating as usual. We understand that the Receivers and Managers are currently undertaking a realisation process with respect to the Taggart business division. The proceeds of which will be subject to ANZ’s ALLPAAP security interest as registered over FGI.

1.3

Decision to appoint Administrators

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

2

Historical financial information

2.1

Preparation of financial statements

3

Statutory Investigations

3.1

Preliminary Solvency Assessment

Our preliminary assessment as to the solvency of the Company has been limited to the extent that financial records were available. We note that the Company is not operating and as there are no records we have yet undertaken a review of the Company’s financial circumstances in regard to the Company’s solvency position.

3.1.1 Preliminary Determination of Date of Insolvency We provide no guarantee or warranty as to accuracy or otherwise of the financial statements.

Our investigations are ongoing, however our preliminary conclusion is that, given our limited review, the summary of events within the report are not conclusive of an earlier date of insolvency for the Company other than 11 February 2014, being the date in which FGL and the other Group entities were placed into Voluntary Administration.

Furthermore, we note that FGI was not an operating entity and our review of the books and records has not identified separate financial statements for FGI.

3.1.2 Director Liability However, we note that the Forge Group managed and accounted for Taggart within the management accounts as a standalone division. We have not considered the financial position with respect to this division of Forge Group given that our appointment does not extend to the same. The Forge Group is listed on the ASX and prepares consolidated financial reports. In this regard, we have provided our commentary with respect to the Group’s consolidated financials in section 4 of this report.

Having regard to the above comments, we have had insufficient time to fully consider the solvency position of FGI on a standalone basis, and accordingly we have not formed an opinion as to whether an insolvent trading claim may exist against the directors. We note that a liquidator would conduct further investigations in this regard. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency.

3.1.3 Holding Company Liability 2.2

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”).

Despite the control exerted over the Company by the holding company FGL, there is unlikely to be an insolvent trading claim that could be pursued as the Company has not traded or incurred any debts.

3.2 In their correspondence to us, the directors requested an extension for the following reasons: “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records. In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.”  The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

Books & Records

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

3.3

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report: (a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.

3.4

Breach of directors’ duties

We have not identified any breaches of director’s duties in relation to the Company. However our investigations are ongoing in this regard.

3.5

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

3.6

Other matters

Our preliminary investigations have not identified any other matters requiring further investigation.

3.7

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

Our preliminary investigations have not identified any potential claims with respect to the Company given that the Company is dormant and has not traded.

3.8

Annexure 11

Avoidance of employee entitlements

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

Abesque Engineering Pty Ltd (Administrators Appointed) (AEPL)

1

Company Information

1.3

1.1

Statutory information

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

A search of the ASIC database revealed the following information.

1.1.1 Incorporation date and registered office Abesque Engineering Pty Ltd (AEPL or the Company) was incorporated on 4 December 2012 and is 100% owned by FGL. The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

1.1.2 Company officers We table below the Company’s directors and officers during the past 12 months: Table 3: Company Officers Name David Simpson Donald Montgomery Brett Smith Mark Rankmore Andrew Bell Glen Smith

Role Director Director Director Director Secretary Secretary

Appointment Date 4 December 2012 4 December 2012 4 December 2012 5 December 2013 4 December 2012 9 April 2013

Cessation Date Current Current 25 November 2013 Current 9 April 2013 Current

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

1.1.3 Shareholders The ASIC database discloses there is 1 issued share. This share is fully paid and wholly owned by FGL.

1.1.4 Registered Security Interests Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR.

Decision to appoint Administrators

2

Historical financial information

2.1

Preparation of financial statements

We note that AEPL was a dormant entity and our review of the books and records has not identified separate financial statements with respect to AEPL.

2.2

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”). In their correspondence to us, the directors requested an extension for the following reasons: “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records. In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.”  The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

3

Statutory Investigations

We note that there are no security interests registered against the Company on the PPSR.

3.1

Preliminary Solvency Assessment

1.1.5 Winding up applications

Our preliminary assessment as to the solvency of the Company has been limited to the extent that financial records were available. We note that the Company is dormant and as such we have not undertaken a review of the Company’s financial circumstances in regard to the Company’s solvency position. Notwithstanding, we have considered the solvency of the Forge Group on a consolidated basis, and we refer to section 7.3 of this report in this regard.

At the date of our appointment there was no outstanding winding up application against the Company.

1.2

Company history

The Group acquired AEPL on 1 February 2008. As part of the Group’s ‘Forge One’ strategy, the Group changed AEPL’s company name to Forge Group Minerals and Resources Pty Ltd during January 2013, and also established a new entity with ASIC which was named AEPL to protect the business and trading name. Accordingly, AEPL which was created during December 2012 is a dormant entity and has not traded.

3.1.1 Preliminary Determination of Date of Insolvency

3.4

We note that the Company is dormant, does not undertake trading activities and also appears to have been wholly reliant on funding from FGI. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency.

We have not identified any breaches of director’s duties in relation to the Company. However our investigations are ongoing in this regard.

3.5 Our preliminary conclusion is that, given our limited review, the summary of events within the report are not conclusive of an earlier date of insolvency for the Company other than 11 February 2014, being the date in which FGI and the other Group entities were placed into Voluntary Administration.

Breach of directors’ duties

Avoidance of employee entitlements

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

3.6

Other matters

3.1.2 Director Liability Having regard to the above commentary as to the date of insolvency, and the dormant nature of the Company, we do not consider that an insolvent trading claim against the directors exists. A liquidator would conduct further investigations in this regard.

3.1.3 Holding Company Liability Despite the control exerted over the Company by the holding company FGL, there is unlikely to be an insolvent trading claim that could be pursued as the Company has not traded or incurred any debts.

3.2

Books & Records

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

3.3

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report: (a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.

Our preliminary investigations have not identified any other matters requiring further investigation.

3.7

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

We have not identified any potential claims with respect to the Company given that the Company is dormant and has not traded.

3.8

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

1

Company Information

1.1

Statutory information

A search of the ASIC database revealed the following information.

1.1.1 Incorporation date and registered office Alanthus Nominees Pty Ltd (ANPL or the Company) was incorporated on 2 March 2005 and is 100% owned by FGL. The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

Annexure 12

1.1.2 Company officers We table below the Company’s directors and officers during the past 12 months:

Alanthus Nominees Pty Ltd (Administrators Appointed) (ANPL)

Table 3: Company Officers Name

Role

Appointment Date

Gregory McRostie

Director

2 March 2005

Cessation Date 5 June 2013

David Simpson

Director

31 July 2012

Current

Brett Smith

Director

29 July 2013

25 November 2013

Donald Montgomery

Director

29 July 2013

Current

Mark Rankmore

Director

5 December 2013

Current

Andrew Bell

Secretary

3 March 2011

9 April 2013

Glen Smith

Secretary

9 April 2013

Current

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

1.1.3 Shareholders The ASIC database discloses there are 268 issued shares. These shares are fully paid and wholly owned by FGL.

1.1.4 Registered Security Interests Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR. We note that ANZ Fiduciary Services Pty Ltd (ANZ) has an All Property and After Acquired Property security interest registered against ANPL. We summarise the ANZ’s security position with respect to all entities within section 7 of this report.

1.1.5 Winding up applications At the date of our appointment there was no outstanding winding up application against the Company.

1.2

Company history

The Company was previously a subsidiary of AEPL before being acquired by the Forge Group during 2008. Further, the Company has been dormant since forming a part of the Forge Group.

1.3

Decision to appoint Administrators

3.1.1 Preliminary Determination of Date of Insolvency Our preliminary conclusion is that, given our limited review, the summary of events within the report are not conclusive of an earlier date of insolvency for the Company other than 11 February 2014, being the date in which FGL and the other Group entities were placed into Voluntary Administration. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency.

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

3.1.2 Director Liability

2

Historical financial information

3.1.3 Holding Company Liability

2.1

Preparation of financial statements

Despite the control exerted over the Company by the holding company FGL, there is unlikely to be an insolvent trading claim that could be pursued as the Company has not traded or incurred any debts.

We note that ANPL was a dormant entity and our review of the books and records has not identified separate financial statements with respect to ANPL.

Having regard to the above commentary as to the date of insolvency, and the dormant nature of the Company, we do not consider that an insolvent trading claim against the directors exists. A liquidator would conduct further investigations in this regard.

3.2 2.2

Books & Records

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”).

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

3.3 In their correspondence to us, the directors requested an extension for the following reasons: “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records. In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.”  The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

3

Statutory Investigations

3.1

Preliminary Solvency Assessment

Our preliminary assessment as to the solvency of the Company has been limited to the extent that financial records were available. We note that the Company is dormant and as such we have not undertaken a review of the Company’s financial circumstances in regard to the Company’s solvency position.

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report: (a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.



3.4

Breach of directors’ duties

We have not identified any breaches of director’s duties in relation to the Company. However our investigations are ongoing in this regard.

3.5

Avoidance of employee entitlements

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

3.6

Other matters

Our preliminary investigations have not identified any other matters requiring further investigation.

3.7

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

We have not identified any potential claims with respect to the Company given that the Company is dormant and has not traded.

3.8

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

Annexure 13 Cimeco Pty Ltd (Administrators Appointed) (CPL)

1

Company Information

1.3

1.1

Statutory information

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

A search of the ASIC database revealed the following information.

1.1.1 Incorporation date and registered office Cimeco Pty Ltd (CPL or the Company) was incorporated on 4 December 2012 and is 100% owned by the FGL. The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

Decision to appoint Administrators

2

Historical financial information

2.1

Preparation of financial statements

We note that CPL was a dormant entity and our review of the books and records has not identified separate financial statements with respect to CPL.

1.1.2 Company officers 2.2

Directors Statement

The Company’s officers over the past 12 months were: Table 3: Company Officers Name Brett Smith David Simpson Donald Montgomery Mark Rankmore Andrew Bell Glen Smith

Role Director Director Director Director Secretary Secretary

Appointment Date 4 December 2012 6 May 2013 6 May 2013 5 December 2013 4 December 2012 6 May 2013

Cessation Date 25 November 2013 Current Current Current 9 April 2013 Current

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

1.1.3 Shareholders The ASIC database discloses there is 1 issued share. This share is fully paid and wholly owned by FGL.

1.1.4 Registered Security Interests Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR. We note that there are no security interests registered against the Company on the PPSR.

1.1.5 Winding up applications At the date of our appointment there was no outstanding winding up application against the Company.

1.2

Company history

As part of the Group’s ‘Forge One’ strategy, the Group changed CPL’s company name to Forge Group Construction Pty Ltd during January 2013, and also established a new entity with ASIC which was named CPL to protect the business and trading name. Accordingly, CPL which was created during December 2012 is a dormant entity and has not traded.

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”). In their correspondence to us, the directors requested an extension for the following reasons: “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records. In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.”  The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

3

Statutory Investigations

3.1

Preliminary Solvency Assessment

Our preliminary assessment as to the solvency of the Company has been limited to the extent that financial records were available. We note that the Company is dormant and as such we have not undertaken a review of the Company’s financial circumstances in regard to the Company’s solvency position.

3.1.1 Preliminary Determination of Date of Insolvency Our preliminary conclusion is that, given our limited review, the summary of events within the report are not conclusive of an earlier date of insolvency for the Company other than 11 February 2014, being the date in which FGL and the other Group entities were placed into Voluntary Administration. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency.

3.1.2 Director Liability

3.6

Having regard to the above commentary as to the date of insolvency, and the dormant nature of the Company, we do not consider that an insolvent trading claim against the directors exists. A liquidator would conduct further investigations in this regard.

Our preliminary investigations have not identified any other matters requiring further investigation.

3.7

Other matters

Summary of potential claims

3.1.3 Holding Company Liability Despite the control exerted over the Company by the holding company FGL, there is unlikely to be an insolvent trading claim that could be pursued as the Company has not traded or incurred any debts.

3.2

Books & Records

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

3.3

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report: (a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.

3.4

Breach of directors’ duties

We have not identified any breaches of director’s duties in relation to the Company. However our investigations are ongoing in this regard.

3.5

Avoidance of employee entitlements

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

We have not identified any potential claims with respect to the Company given that the Company is dormant and has not traded.

3.8

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

1

Company Information

1.1

Statutory information

A search of the ASIC database revealed the following information.

1.1.1 Incorporation date and registered office CTEC Pty Ltd (CTEC or the Company) was incorporated on 4 December 2012 and is 100% owned by the FGL. The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

Annexure 14

1.1.2 Company officers The Company’s officers over the past 12 months were:

CTEC Pty Ltd (Administrators Appointed) (CTEC)

Table 3: Company Officers Name David Simpson Donald Montgomery Brett Smith Mark Rankmore Andrew Bell Glen Smith

Role Director Director Director Director Secretary Secretary

Appointment Date 4 December 2012 4 December 2012 4 December 2012 5 December 2013 4 December 2012 9 April 2013

Cessation Date 25 November 2013 9 April 2013 -

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

1.1.3 Shareholders The ASIC database discloses there is 1 issued share. This share is fully paid and wholly owned by FGL.

1.1.4 Registered Security Interests Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR. We summarise the security registrations against CTEC below: Registration No 201402110067559 201402110067867

PMSI

Transitional

Migrated

Yes Yes

No No

No No

Collateral Class

Secured Party

Motor Vehicle Motor Vehicle

S.V. Haoust Pty Ltd S.V. Haoust Pty Ltd

We have not undertaken an assessment of the above security interests, however we note that CTEC is not trading and the intention of the above parties may have been to register an interest of Forge Group Power Pty Ltd (formerly trading as CTEC). The security interests of all entities are discussed in detail within section 7 of this report.

1.1.5 Winding up applications

3

Statutory Investigations

At the date of our appointment there was no outstanding winding up application against the Company.

3.1

Preliminary Solvency Assessment

1.2

Company history

As part of the Group’s ‘Forge One’ strategy, the Group changed CTEC’s company name to Forge Group Power Pty Ltd during January 2013, and also established a new entity with ASIC which was named CTEC to protect the business and trading name. Accordingly, CTEC which was created during December 2012 is a dormant entity and has not traded.

1.3

Decision to appoint Administrators

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

2

Historical financial information

2.1

Preparation of financial statements

Our preliminary assessment as to the solvency of the Company has been limited to the extent that financial records were available. We note that the Company is dormant and as such we have not undertaken a review of the Company’s financial circumstances in regard to the Company’s solvency position.

3.1.1 Preliminary Determination of Date of Insolvency Our preliminary conclusion is that, given our limited review, the summary of events within the report are not conclusive of an earlier date of insolvency for the Company other than 11 February 2014, being the date in which FGL and the other Group entities were placed into Voluntary Administration. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency.

3.1.2 Director Liability Having regard to the above commentary as to the date of insolvency, and the dormant nature of the Company, we do not consider that an insolvent trading claim against the directors exists. A liquidator would conduct further investigations in this regard.

3.1.3 Holding Company Liability We note that CTEC was a dormant entity and our review of the books and records has not identified separate financial statements with respect to CTEC.

2.2

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”). In their correspondence to us, the directors requested an extension for the following reasons:

Despite the control exerted over the Company by the holding company FGL, there is unlikely to be an insolvent trading claim that could be pursued as the Company has not traded or incurred any debts.

3.2

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

3.3 “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records. In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.”  The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

Books & Records

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report: (a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.

3.4

Breach of directors’ duties

We have not identified any breaches of director’s duties in relation to the Company. However our investigations are ongoing in this regard.

3.5

Avoidance of employee entitlements

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

3.6

Other matters

Our preliminary investigations have not identified any other matters requiring further investigation.

3.7

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

We have not identified any potential claims with respect to the Company given that the Company is dormant and has not traded.

3.8

Annexure 15

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

Energy Maintenance Partners Pty Ltd (Administrators Appointed) (EMPPL)

1

Company Information

1.2

1.1

Statutory information

A search of the ASIC database revealed the following information.

The Company was previously a subsidiary of CTEC before being acquired by the Forge Group during 2012. Further, the Company has been dormant since forming a part of the Forge Group.

1.1.1 Incorporation date and registered office

1.3

Energy Maintenance Partners Pty Ltd (EMPPL or the Company) was incorporated on 19 October 2010 and is 100% owned by Forge Group Power Pty Ltd. The Company’s registered office is listed as 28 Troode Street, Perth, Western Australia, 6005.

The directors of the Group resolved to appoint voluntary administrators to the Group companies on 11 February 2014 pursuant to Section 436A of the Act. The circumstances and events leading to the appointment of Administrators are described in greater detail throughout this report, and in particular the causes of failure of the Group are discussed in section 5.2 of this report.

1.1.2 Company officers

2

Historical financial information

The Company’s officers over the past 12 months were:

2.1

Preparation of financial statements

Table 3: Company Officers Name Peter Hallam Kevin Robinson Neil Robinson Thierry Van Veen David Simpson Donald Montgomery Brett Smith Mark Rankmore Stephen Harris Michael Higginson Glen Smith

Role Director Director Director Director Director Director Director Director Secretary Secretary Secretary

Appointment Date 29 October 2010 29 October 2010 29 October 2010 29 October 2010 6 May 2013 6 May 2013 6 May 2013 5 December 2013 29 October 2010 29 October 2010 6 May 2013

Cessation Date 25 November 2013 7 May 2013 7 May 2013 7 May 2013 Current Current 25 November 2013 Current 7 May 2013 7 May 2013 Current

A search of the National Personal Insolvency Index shows that the Company’s directors are not bankrupt or subject to a Personal Insolvency Agreement under Part X of the Bankruptcy Act 1966.

1.1.3 Shareholders The ASIC database discloses there are 10 issued shares. These shares are fully paid and wholly owned by FGP.

1.1.4 Registered Security Interests

Company history

Decision to appoint Administrators

We note that EMPPL was a dormant entity and our review of the books and records has not identified separate financial statements with respect to EMPPL.

2.2

Directors Statement

Section 438B of the Act requires the directors to give an Administrator a statement about the company’s business, property, affairs and financial circumstances (“RATA or Statements of Position”). In their correspondence to us, the directors requested an extension for the following reasons: “The directors do not have access to the company records or the company finance team (who have been terminated) to complete either Part A or those sections of Part B that require access to detailed company records. Forge Group was a large and complex organisation with a large finance team and sophisticated IT systems. The non-executive directors have no access and no basis on which to prepare the Section 438 B(2) report to the extent that answers need to be sourced from company records. In these circumstances I request that directors of Forge Group Companies be granted an extension to complete the Section 438 B(2) report so as to allow an opportunity to discuss with you the practicalities of who can provide the requested financial information from the company records, and the time this will take.”  The Forge Group Companies’ directors were granted an extension of four (4) weeks (19 March 2014) to lodge the RATAs.

Under the new PPSA legislation that took effect on 30 January 2012, security over property, except land, must be registered as a security interest on the PPSR.

3

Statutory Investigations

We note that there are no security interests registered against the Company on the PPSR.

3.1

Preliminary Solvency Assessment

1.1.5 Winding up applications

Our preliminary assessment as to the solvency of the Company has been limited to the extent that financial records were available. We note that the Company is dormant and as such we have not undertaken a review of the Company’s financial circumstances in regard to the Company’s solvency position.

At the date of our appointment there was no outstanding winding up application against the Company.

3.1.1 Preliminary Determination of Date of Insolvency

3.4

Our preliminary conclusion is that, given our limited review, the summary of events within the report are not conclusive of an earlier date of insolvency for the Company other than 11 February 2014, being the date in which FGL and the other Group entities were placed into Voluntary Administration. It may be that the further investigations by a liquidator, if one is appointed, may establish an earlier date of insolvency.

We have not identified any breaches of director’s duties in relation to the Company. However our investigations are ongoing in this regard.

3.1.2 Director Liability Having regard to the above commentary as to the date of insolvency, and the dormant nature of the Company, we do not consider that an insolvent trading claim against the directors exists. A liquidator would conduct further investigations in this regard.

3.5

Breach of directors’ duties

Avoidance of employee entitlements

Our preliminary investigations have not identified any transactions or actions entered into by the Company that were intended to avoid employee entitlements.

3.6

Other matters

Our preliminary investigations have not identified any other matters requiring further investigation.

3.1.3 Holding Company Liability 3.7 Despite the control exerted over the Company by the holding company FGL, there is unlikely to be an insolvent trading claim that could be pursued as the Company has not traded or incurred any debts.

3.2

Books & Records

The books and records of the Company are maintained and held with the records of the Forge Group. Our preliminary investigations have not identified any specific deficiencies in relation to the records of Company.

3.3

Potential Liquidator Recoveries – voidable transactions

Our preliminary investigations into the affairs of the Company have not identified any voidable transactions that would be recoverable for the benefit of creditors. We have commented below with respect to each category of potential voidable transaction that we have considered, and consideration should also be had of the investigation outlined in the main report: (a)

Unfair preferences – Our preliminary review has no identified any transactions which we consider should warrant further investigation.

(b)

Uncommercial transactions - Our preliminary review has not identified any transactions entered into by the Company that may be considered uncommercial.

(c)

Unfair loans – Our preliminary review has not identified any unfair loans that would be considered voidable by a liquidator.

(d)

Unreasonable director related transactions – Our preliminary review has not identified any transactions that would be considered unreasonable director related transactions in relation to the Company.

(e)

Obstruction of creditors’ rights - Our preliminary review has not identified any transactions or actions entered into by the Company that were intended to obstruct creditors’ rights.

(f)

Voidable charges - Our preliminary review has not identified any voidable charges registered over the Company.

Summary of potential claims

Potential Recovery Item Unfair preferences Uncommercial transactions Unfair loans Unreasonable director related transactions Transactions undertaken to obstruct creditors’ rights Compensation from director for insolvent trading Compensation from holding company for insolvent trading Breaches of directors duties Avoidance of employee entitlements Total

Transactions of Interest $ TBD TBD TBD TBD TBD TBD TBD TBD TBD $ TBD

We have not identified any potential claims with respect to the Company given that the Company is dormant and has not traded.

3.8

Report to ASIC

Our preliminary investigations have not identified evidence of any breaches of the Act that would require us to lodge a report with the ASIC pursuant to Section 438D of the Act in respect of this Company. We note that a liquidator is required to undertake comprehensive investigations into the affairs of the Company and lodge a report with ASIC pursuant to Section 533 of the Act.

Annexure 16 Group Structure Diagram

Group Structure Diagram Forge Group Ltd (Aust)

100%

CTEC Pty Ltd (Aust) (Dormant and to protect business name)

50%

Forge Pilbara Logistics Joint Venture – BHPB NPI Project (Aust)

100%

Forge Group Construction Pty Ltd (Aust)

50%

CPL Pty Ltd (Aust)

100%

Clough Forge Pty Ltd (Aust)

75%

Forge Pilbara Logistics Joint Venture – R10 HD4 Project (Aust)

100%

100%

Forge Group Minerals and Resources Pty Ltd (Aust)

Webb Construction West Africa Ltd (Ghana)

100%

Webb Mining Services Ltd (Ghana)

100%

100%

100%

Webb Construction Africa (Pty) Ltd (South Africa)

Forge Group Asset Management Pty Ltd (Aust)

Forge Group International Pty Ltd (Aust)

CIMECO Pty Ltd (Aust) (Dormant and to protect business name)

100%

100%

100%

100%

Webb Construction s West Africa Ltd Serra Leone

Forge Ventures Inc (Canada)

100%

Forge Group Inc (USA)

100%

100%

100%

Forge Group China LLC (USA)

Forge Group Site Services LLC (USA)

Forge Group North America LLC (USA)

Abesque Engineering Pty Ltd (Aust) (Dormant and to protect business name)

Forge Group Asia Pte Ltd (Singapore)

100%

Forge Group North America Asset Management LLC (USA)

100%

100%

100%

Alanthus Nominees Pty Ltd (Aust)

100%

100%

CTEC NZ Ltd (NZ)

Energy Maintenance Partners Pty Ltd (Aust)

100%

Forge Group South Africa LLC (USA)

Forge Group Power Pty Ltd (Aust)

49%

Appalachian Coal Services LLC (USA)

100% 100%

Taggart Global China Rep Office (China)

100%

Taggart Global Sourcing Beijing Ltd (China)

Taggart Global South Africa Investments Holdings (Pty)Ltd (RSA)

51%

Taggart LSL Consulting (Pty) Ltd (RSA)

51%

51%

Taggart Tekpro Projects (Pty) Ltd (RSA)

Taggart JHDA Engineering (Pty) Ltd (RSA)

100%

Pindana Properties (9) (Pty) Ltd (RSA)

100%

Taggart Mozambique Limitada (Mozambique)

Annexure 17 Updated DIRRI

CORPORATIONS ACT 2001 Section 436DA(5) FORGE GROUP LTD ACN 065 464 226 AND CERTAIN SUBSIDIARIES AS SET OUT IN THE SCHEDULE (COLLECTIVELY REFERRED TO AS “THE GROUP” OR “THE COMPANIES”)

DECLARATION OF INDEPENDENCE, RELEVANT RELATIONSHIPS AND INDEMNITIES This document requires the practitioner/s appointed to an insolvent entity to make declarations as to: A. B.

C.

their independence generally; relationships, including (i) the circumstances of the appointment; (ii) any relationships with the Insolvent and others within the previous 24 months; (iii) any prior professional services for the Insolvent within the previous 24 months; (iv) that there are no other relationships to declare; and any indemnities given, or upfront payments made, to the practitioner

This declaration is made in respect of ourselves, the partners of Ferrier Hodgson, and our firm, Ferrier Hodgson. A.

Independence We, Martin Jones, Andrew Saker and Ben Johnson of Ferrier Hodgson have undertaken a proper assessment of the risks prior to accepting the appointment as Administrators of The Group in accordance with the Corporations Act 2001 (Cth) (the Act), the Australian Restructuring Insolvency & Turnaround Association (ARITA) Code of Professional Practice (the Code) and applicable professional standards. This assessment identified no real or potential risks to our independence. We are not aware of any reasons that would prevent us from accepting this appointment.

B.

Declaration of Relationships (i)

Circumstances of appointment

We advise that the Company contacted us directly, for the first time, on 11 February 2014 in relation to a prospective appointment as Voluntary Administrators. We had one (1) meeting with the Companies’ directors on 11 February 2014. The purpose of the meeting was to discuss the financial position of the Companies and to make the arrangements to enable our appointment as Voluntary Administrators.

Page 2

Ferrier Hodgson’s advice was limited to the voluntary administration process. Advice was given to the the Companies only. We did not advise the directors personally or others. The Courts and the ARITA’s Code of Professional Practice specifically recognise the need for practitioners to provide advice on the insolvency process and the options available and do not consider that such advice results in a conflict or an impediment to accepting the appointment. The nature of the advice is such that it would not be subject to review and challenge during the voluntary administration. The pre-appointment advice will not influence our ability to fully comply with the statutory and fiduciary obligations associated with the voluntary administration in an objective and impartial manner. We do not consider that this meeting impacted our independence in any way. We have provided no other information or advice to the Group, its directors and its advisors prior to my appointment beyond that outlined in this DIRRI. (ii)

Relevant Relationships

Neither of us, nor our firm, has had within the preceding 24 months, any relationships with the Companies, an associate of the Companies, a former insolvency practitioner appointed to the Companies or any other person or entity that has a charge on the whole or substantially the whole of the Companies’ property, other than those explicitly detailed in this declaration. (iii)

Prior professional services to the insolvent

No prior services were provided to the insolvent. From time to time we provide professional advice, either formally or informally to ANZ, the secured creditors of the Company however we have had no involvement with ANZ in direct relation to the Group. In this respect we advise that Kordamentha have been appointed as Receivers and Managers of certain entities within the Group. There are no other prior professional relationships or engagements that should be disclosed. (iv) Update to the DIRRI Since the first meeting of creditors, the following matters have come to our attention that require us to update the DIRRI and advise creditors of the same. These matters are as follows: Funding Request As the Administrators are currently unfunded, the Administrators have written to the Receivers and Managers, KordaMentha, and have requested that the Forge Group’s Secured Lenders consider funding a portion of our fees and costs incurred in the Administration.

Page 3

In this regard, to date the Administrators have requested $250,000 from the Secured Lenders of the Forge Group to be provided on a limited recourse basis. As at the date of this report, a final decision is yet to be made with respect to this funding request. Advice to the directors of Pilbara Logistics (WA) Pty Ltd (PLWA) Ferrier Hodgson was approached by the directors of PLWA to assist with an assessment of its financial interest in a joint venture with Forge Construction, an entity that Receivers and Managers are appointed over. As at the date of this report, the engagement is ongoing. We do not consider that the matters mentioned above impact our independence in any way and do not create a conflict of interest. C.

Indemnities and upfront payments To date, we have not been indemnified in relation to this administration, other than any indemnities that we may be entitled to under statute and we have not received any upfront payments in respect of our remuneration or disbursements. We note however our pending funding request to the Forge Group’s secured creditors as outlined above.

Dated: 10 March 2014

ANDREW SAKER Joint and Several Voluntary Administrator

MARTIN JONES Joint and Several Voluntary Administrator

BEN JOHNSON Joint and Several Voluntary Administrator

NOTE:

If circumstances change, or new information is identified, we are required under Section 436DA(5) of the Corporations Act 2001 and the ARITA Code of Professional Practice to update this declaration and provide a copy to creditors with our next communication as well as table a copy of any replacement declaration at the next meeting of the Companies’ creditors. Any relationships, indemnities or upfront payments disclosed in the declaration must not be such that the practitioner is no longer independent. The purpose of components B and C of the declaration is to disclose relationships that, while they do not result in the practitioner having a conflict of interest or duty, ensure that creditors are aware of those relationships and understand why the practitioner nevertheless remains independent.

Annexure 18 Administrators’ Remuneration Report

  

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Administrators' Report to Creditors - ASX

13 March 2014 Administrators’ Report to Creditors Forge Group Limited (ASX: FGE) (Administrators Appointed) (Receivers and Managers Appointed) provid...

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