SCHEDULES

F1SCHEDULE A1MORATORIUM WHERE DIRECTORS PROPOSE VOLUNTARY ARRANGEMENT

PART IINTRODUCTORY

Capital market arrangement

5.

A company is also excluded from being eligible for a moratorium if, on the date of filing, it is a party to an agreement which is or forms part of a capital market arrangement under which—

(a)

a party has incurred, or when the agreement was entered into was expected to incur, a debt of at least £10 million under the arrangement, and

(b)

the arrangement involves the issue of a capital market investment.