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Ernst & Young LLP 1 More London Place London SE1 2AF Tel: 020 7951 2000 Fax: 020 7951 1345 www.ey.com/uk

ADM09F03 (2010)

High Court of Justice (“the Court”) Chancery Division Companies Court 13 - 14 Park Crescent London W1B 1HT

5 February 2013 Ref: AH/AB/TL/BS/RT Direct line: 0207 951 3095 Rebecca Turner [email protected]

Dear Sirs

Luminar Finance Limited Registered Number 05293864, High Court Reference 9329 of 2011 Luminar Gems Limited Registered Number 05882675, High Court Reference 9330 of 2011 Luminar Group Holdings plc Registered Number 06239034, High Court Reference 9339 of 2011 Luminar Lava Ignite Limited Registered Number 05882669, High Court Reference 9334 of 2011 Luminar Leisure Limited Registered Number 03802937, High Court Reference 9333 of 2011 Luminar Liquid Limited Registered Number 05882674, High Court Reference 9326 of 2011 Luminar Oceana Limited Registered Number 05882671, High Court Reference 9325 of 2011 (All in Administration) (together “the Group”) Registered office address: C/O Ernst & Young LLP, 1 More London Place, London, SE1 2AF

I write, in accordance with Rule 2.47 of the Insolvency Rules 1986, to provide the Court with a report on the progress of the Administrations. This report covers the period from 28 October 2012 to 28 January 2013 and should be read in conjunction with the Joint Administrators’ previous reports dated 12 December 2011, 25 May 2012 and 26 November 2012.

On 27 October 2011 Luminar Group Holdings plc (“Plc”) entered Administration and on 28 October 2011 Luminar Finance Limited (“Finance”), Luminar Leisure Limited (“Leisure”), Luminar Liquid Limited (“Liquid”), Luminar Gems Limited (“Gems”), Luminar Oceana Limited (“Oceana”) and Luminar Lava Ignite Limited (“Lava Ignite”) entered Administration. A Hudson, A Bloom and T Lukic of Ernst & Young LLP were appointed to act as Joint Administrators. The appointments were made by the Directors under the provisions of paragraph 22(2) of Schedule B1 to the Insolvency Act 1986. Under the terms of the appointments, any act required or authorised to be done by the Joint Administrators can be done by any of them.

The Administrations are scheduled to expire on 26 April 2013 (Plc) and 27 April 2013 (remaining companies), following the six month extensions granted by the secured and preferential creditors under paragraph 76(2)(b) to the Insolvency Act 1986. As our work is not yet complete, in accordance with Rule

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2.112 of the Insolvency Rules 1986 we intend to register an application to the Court for a further extension of the Administrations for an additional twelve months.

An extension of the Administrations is beneficial to the creditors of the Group for the following reasons:

• To mitigate the risk of loss of the remaining contingent consideration of £1,198,250 from the sale of the business and assets.

• To complete the collection of remaining floating charge assets, including debtors and rates refunds.

• To finalise settlement of the 19 personal injury claims relating to the trading period and to arrange run-off cover in respect of any future claims.

• To finalise the inter-company creditor position to enable calculation and distribution of the Prescribed Part.

The above outstanding issues are discussed in further detail in our report, below.

Reminder of background The Group was the largest nightclub operator in the United Kingdom, with an operating portfolio comprising 70 trading nightclubs together with 9 non-trading sites at the dates of appointment. The key operational companies in the Group, all of which are now in administration, are detailed below:

Primary trading entities

► Luminar Gems Limited Trading entity, operated 21 independent unbranded nightclubs nationally.

► Luminar Liquid Limited Trading entity, operated the Liquid and Envy brands from 27 nightclubs nationally.

► Luminar Oceana Ltd Trading entity, operated the Oceana brand from 13 nightclubs nationally, including two on a licence arrangement.

► Luminar Lava Ignite Ltd Trading entity, operated the Lava and Ignite brands, with 9 nightclubs nationally.

Other entities

► Luminar Finance Limited Borrowing entity within the Group.

► Luminar Group Holdings Plc Listed entity and ultimate holding company in the Group.

► Luminar Leisure Limited Purchasing, contracting and principle employing entity in the Group.

The Group had a complicated structure, consisting of an additional 59 companies outside of the Administration process. For further information, a simplified structure chart of the Group can be found at Appendix 1.

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Summary of Progress Sale of business and assets

A sale of the business and assets was successfully completed on 9 December 2011 to Ranimul 2 Limited (“the Purchaser”) for a total consideration of up to £33.9m. As detailed below, c. £15.9m was paid on completion with the balance being due on both a deferred and contingent basis. Sale of business and assets consideration summary

Consideration Upfront Deferred Contingent TotalCash floats 488,592 488,592Contracts 1 1Goodwill 1 1Fixtures, fittings & equipment 1,581,000 1,581,000Intellectual property 1 1Motor vehicles 4,997 4,997Plant & machinery 1 1Properties 12,550,000 14,200,000 3,700,025 30,450,025Stock 1,305,006 1,305,006Total Consideration 15,929,599 14,200,000 3,700,025 33,829,624Collected to date (15,929,599) (14,200,000) (2,061,125) (32,190,724)Uncollectible consideration and provision (1,062,875) (1,062,875)Collectible Consideration 0 0 576,025 576,025

Since our last report to creditors, the remaining £6m of deferred consideration and an additional £870,375 of contingent consideration has been collected. A summary of the total realisations to date of c. £32.2m on an entity by entity basis is set out below.

Consideration received as at 28 January 2013

Gems Lava Ignite Leisure Liquid Oceana TotalCash floats 95,076 57,726 190,090 145,700 488,592Contracts 1 1Goodwill 1 1Fixtures, fittings & equipment 344,079 34,545 1 628,538 573,837 1,581,000Intellectual property 1 1Motor vehicles 4,997 4,997Plant & machinery 1 1Properties - Upfront 2,378,698 172,475 5,022,356 4,976,471 12,550,000Properties - Deferred 2,277,019 304,363 6,541,046 5,077,573 14,200,000Properties - Contingent 994,450 346,300 720,375 0 2,061,125Stock 241,061 166,410 377,198 520,337 1,305,006Total 6,330,383 1,081,820 5,002 13,479,602 11,293,918 32,190,724

EntityConsideration

Deferred consideration

£14.2m of the sale consideration was to be paid on a deferred basis, with £12m payable in two £6m tranches and £2.2m being payable in monthly instalments of c. £240,000 per month. These funds have been collected in full.

As detailed in our last report, deferred consideration was subject to interest charges, which rank as floating charge realisations in the Administrations. c. £670,000 was realised in this regard.

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Contingent consideration

A further c. £3.7m of the sale consideration was contingent on the successful assignment of 46 leasehold premises to the Purchaser.

To date, 23 assignments have been agreed, which has crystallised c. £2.06m of the contingent consideration for the benefit of the creditors. A further 16 are still being negotiated. We are in regular dialogue with the Purchaser and understand that they are making good progress in their negotiations with the majority of the remaining Landlords.

The uncollectable consideration and provision of c. £1.063m relates to:

• 7 sites where it has not been possible for the Purchaser to obtain an assignment of the leases and 1 site where we have agreed a reduction in the consideration payable, accounting for contingent consideration of c. £440,650 which will definitely not be received ; and

• 7 sites which are proving problematic to assign, accounting for contingent consideration of c. £622,225. We have provided for this in full but realisations could increase by up to £622,225 in the event that assignments are achieved in relation to any of these problematic sites..

Following deduction of the potentially uncollectable provision of c. £1.063m, we anticipate additional realisations of £576,025 in respect of the contingent consideration

Under section 178(5) of the Insolvency Rules 1986, should the Group enter liquidation, the landlords of the unassigned premises have the right to serve 28 days notice on the Group to disclaim the leases. Any such notices would force an acceleration of the negotiations between the landlord and the Purchaser and may mean that there is not sufficient time for the leases to be assigned successfully. Ultimately, this could result in a loss of some or all of the potentially collectible remaining contingent consideration of £1,198,250.

Extension of the Administrations, therefore, will reduce the risk of loss in respect of the contingent consideration from the assignment of the remaining leases and is therefore of benefit to creditors.

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Administrators Trading

To date, the Joint Administrators have generated a profit of c. £415,331 for the trading period ended 9 December 2011. This figure has increased by c. £2,000 from our last report to creditors following further debtor collections, offset by settlement of Administration trading commitments and rental payments. The trading outcome is summarised in further detail below.

Administrators Trading Outcome as at 28 January 2013

Gems Lava Ignite Leisure Liquid Oceana TotalRent & service charge income 10,959 12,974 100,384 18,811 (763) 142,364Sale of stock 241,061 166,410 - 377,198 520,337 1,305,006Trading revenue 2,393,688 1,299,282 471,132 3,437,429 4,419,442 12,020,973Total receipts 2,645,708 1,478,666 571,516 3,833,438 4,939,016 13,468,343Capital expenditure (50,202) (11,466) (51,754) (77,155) (316,087) (506,664)Employee costs (538,076) (294,685) (723,520) (672,046) (896,699) (3,125,026)Event & promotional costs (175,409) (183,424) - (279,421) (490,230) (1,128,484)Force majeure (127,348) (79,732) - (121,343) (148,329) (476,752)Insurance (75,933) (71,614) - (72,495) (66,275) (286,317)Retention of title (222,691) (163,011) - (351,967) (412,089) (1,149,758)Rent, rates & service charges (215,006) (9,291) (49,972) (207,256) (136,627) (618,152)Suppliers (1,078,149) (702,845) (211,877) (1,651,006) (2,117,981) (5,761,858)Total payments (2,482,814) (1,516,068) (1,037,123) (3,432,689) (4,584,317) (13,053,011)Profit/(loss) 162,893 (37,402) (465,607) 400,749 354,699 415,331Management recharge (86,095) 19,769 465,607 (211,810) (187,471) -Trading outcome 76,798 (17,634) - 188,939 167,228 415,331

EntityReceipt/Payment (£)

Trading receipts

To date, the Joint Administrators have realised c. £13.47m of receipts in relation to the trading period. c. £12.02m of these receipts were generated from trading sales, an increase of c. £22,000 since our last report following further debtor collections. In addition, the Joint Administrators have collected c. £142,000 in relation to rent, service charges and insurance from sub tenants.

c. £273,000 of debtor balances remain outstanding. These are discussed further on page 6 of this report.

As discussed in our last report, the sale of the business and assets included a consideration of c. £1.3m in respect of stock purchased during the Administration trading period.

Insurance

We continue to receive personal injury claims for the period prior to the appointments, which our insurance brokers, JLT, are managing on our behalf. These claims rank as non-preferential claims in the Administrations. We are currently aware of 123 personal injury claims that remain active totalling c. £1.9m. These claims have been added to the list of creditors.

To date, 19 claims have been received and investigated which relate to the Administration trading period. The deductible excess on the Joint Administrators’ insurance policy is £15,000 per claim. Any successful claims (up to these amounts) will rank as an Administration expense and will need to be settled prior to any distribution via the Prescribed Part. We have provided £200,000 for the settlement of these claims in our calculation of the estimated distributions to creditors.

JLT continue to explore a strategy for settlement of all personal injury claims for the trading period on our behalf. An extension of the Administrations will allow us to finalise and settle these claims in

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Administration as well as to arrange run off insurance in the event that further claims are received. We will further update creditors of our progress in this regard in our next report.

Rent, rates and service charges

The Joint Administrators have made payments of c. £618,000 in respect of rent and service charges for leasehold premises in the portfolio during the trading period.

We are currently in the process of completing a reconciliation with the Purchaser in relation to rent and service charges and anticipate that future payments in this regard will be minimal.

Suppliers

Payments made to suppliers of the Group during the trading period total c. £5.8m. This expenditure has increased by c. £9k since our last report following settlement of additional trading utilities commitments.

A potential contingent liability exists with the environment agency in respect of the CRC energy efficiency scheme for £150,000, which may rank as an Administration expense. Whilst the Joint Administrators currently consider this liability to rank as a non preferential claim, we await a formal response from the Environment Agency to our correspondence.

An extension of the Administrations would enable conclusion of the investigations into this contingent claim, which will need to be completed prior to any distribution of the Prescribed Part.

Management recharge

Leisure was the principle purchasing, contracting and employing entity in the Group. It was therefore operated as a cost centre and encompassed the head office functions of finance, HR, IT, marketing and sales.

In accordance with the Groups historic accounting policy, these costs have been recharged to the various trading entities in the Group that utilised the goods and services during the Administration trading period.

Other receipts

There have been no changes to the previously reported positions in relation to stock and retention of title; capital expenditure; employees; events and promotions; and, force majeure and duress payments. We do not anticipate any further payments in this regard.

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Other Realisations

The Joint Administrators have collected c. £3.6m of other realisations, as detailed below.

Other Realisations

Finance Gems Lava Ignite Leisure Liquid Oceana Plc TotalBook debts 68,909 156 75,553 555,761 1,598 61,212 763,188Cash in transit & exchange coinage 337,849 137,688 337 500,583 356,318 1,332,776Motor Vehicles 8,400 8,400Prepayments 324,053 324,053Rates refunds 27,248 36,752 473,318 544,922 1,082,239Share scheme refunds 103,230 103,230Sundry income 4,722 23,090 27,812Total 68,909 365,252 254,714 911,641 975,498 962,452 103,230 3,641,698

EntityRealisation

Debtors

To date, the Joint Administrators have collected c. £763,188 in respect of debtors, which is unchanged from our last report.

After deductions for known bad debts, outstanding debtors for the Group total c. £273,000. These debtors relate to both pre-appointment book debts and invoices that were raised during the Administration trading period.

These outstanding balances are subject to contractual disputes with promotion companies or sub-tenants. We are working with our lawyers to pursue these debts. An extension of the Administrations will allow conclusion of the debtor collection process for the benefit of creditors.

Rating revaluations & prepayments

As detailed in our last report, we have engaged an agent to identify and recover historic overpayments of rates made by the Group. To date, we have collected c. £1.082m of refunds in this regard. Further realisations are expected, however, we are unable to estimate this figure at present. Currently, our agents have 66 appeals in process which they expect to be completed in due course.

Extension of the Administrations will allow our agents conclude the outstanding appeals and to realise further rates refunds for the benefit of the creditors of the Group

There have been no additional realisations since our last report to creditors.

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Other issues

Taxation

The Joint Administrators are in the process of preparing the corporation tax return for the period to 9 December 2012. We expect that there will be sufficient historic losses within the Group to mitigate any gains made in the period, therefore any tax due should be immaterial to the outcome of the administrations. .

Group subsidiaries

At the dates of appointment there were a further 59 companies in the Luminar Group structure.

We are continuing to work with the directors of these companies in order to rationalise the group. A total of 31 companies have now been dissolved with a further 13 awaiting strike off.

The Structure Chart in Appendix A shows the current status of all of the companies in the wider group. .

Inter-company balances

Due to the extensive group structure, detailed above, the Group has a complex inter-company debtor position, with many of the companies in the Group ranking as creditors of each other. In this regard, in the event of a Prescribed Part distribution being made, funds will circulate around the Group. Realisations, therefore, made in one company will directly affect the other companies in the Group.

An extension of the Administrations will allow us to finalise the floating charge realisations across the Group and make Prescribed Part distributions simultaneously to avoid multiple distributions having to be made from individual entities.

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Receipts and Payments Accounts

We detail below our consolidated receipts and payments account for the Group from 27 October 2011 to 28 January 2013. Detailed breakdowns of the Joint Administrators receipts and payments by entity for the period from 27 October 2011 to 28 January 2013 are attached at Appendix 2. These do not reflect estimated future realisations or costs.

Luminar Group Holdings Plc (In Administration)

Fixed ChargeFloating Charge

(Trading)Floating Charge

(Other) TotalAs per last

report 26/10/12 Movement

Estimated to Realise per

Statement of Affairs

RECEIPTS £ £ £ £ £ £ £Bank interest 15,653.77 41,109.00 56,762.77 48,134.35 8,628.42Book debts 763,188.44 763,188.44 763,188.44 0.00 5,173,252Cash floats 488,591.95 488,591.95 488,591.95 0.00Cash in transit 1,111,737.74 1,111,737.74 1,111,737.74 0.00 521,310Contracts 1.00 1.00 1.00 0.00Deferred consideration interest 670,333.77 670,333.77 590,905.60 79,428.17Exchange coinage 221,038.00 221,038.00 221,038.00 0.00Fixtures, fittings & equipment 1,581,000.00 1,581,000.00 1,581,000.00 0.00 500,000Freehold property 17,532,847.00 17,532,847.00 11,532,847.00 6,000,000.00Goodwill 1.00 1.00 1.00 0.00Leasehold property 11,278,279.00 11,278,279.00 10,407,904.00 870,375.00Licence prepayments 324,052.54 324,052.54 324,052.54 0.00Motor vehicles 13,397.00 13,397.00 13,397.00 0.00NewCo apportionments (4,220.27) (4,220.27) (8,576.83) 4,356.56Plant & machinery 1.00 1.00 1.00 0.00Rates refunds 1,109,608.15 1,109,608.15 1,108,793.36 814.79Rent deposits 9,044.66 9,044.66 9,026.22 18.44Scheme refunds 103,230.45 103,230.45 103,230.45 0.00Share sale consideration 5.00 5.00 5.00 0.00Stock 1,305,006.26 1,305,006.26 1,305,006.26 0.00 1,547,907Sundry income 34,479.93 34,479.93 34,434.28 45.65Unallocated income 0.00 0.00 0.00 0.00VAT Payable 16,606.84 289,213.39 305,820.23 92,701.97 213,118.26

Trading ReceiptsRent and service charge income 142,363.63 142,363.63 142,363.63 0.00 1,799,162Trading sales 12,020,972.70 12,020,972.70 11,998,797.49 22,175.21

Total 28,843,387.61 13,468,342.59 6,755,811.75 49,067,541.95 41,868,581.45 7,198,960.50 56,116,631.0028,843,387.61 6,680,670.15

PAYMENTSJoint Administrators fees 1,754,091.00 1,298,572.50 3,052,663.50 3,052,663.50 0.00Joint Administrators fees (pre-appointment) 190,909.00 56,427.50 247,336.50 247,336.50 0.00Joint Administrators disbursements 81,057.45 81,057.45 81,057.45 0.00Agents fees 197,203.99 197,203.99 196,053.75 1,150.24Bank charges 72.26 1,690.00 1,762.26 1,607.50 154.76Consideration for shares 5.00 5.00 5.00 0.00Corporation tax 39.28 39.28 39.28 0.00Irrecoverable VAT 184,110.09 184,110.09 277,163.29 (93,053.20)Legal fees 924,218.34 252,405.91 1,176,624.25 1,212,953.18 (36,328.93)Rationalisation expenses 7,073.41 7,073.41 7,080.73 (7.32)Secured creditors 24,000,000.00 24,000,000.00 17,000,000.00 7,000,000.00VAT Receivable 94,459.75 533,240.78 627,700.53 311,994.04 315,706.49

Trading PaymentsBank charges 40,000.00 40,000.00 40,000.00 0.00Cleaning 485,680.25 485,680.25 485,680.25 0.00Consumables 130,867.53 130,867.53 130,867.53 0.00Employee expenses 41,669.96 41,669.96 41,669.96 0.00Employee salaries & wages 3,083,356.11 3,083,356.11 3,083,356.11 0.00Event & promotional costs 1,128,483.78 1,128,483.78 1,128,483.78 0.00Food & beverage supplies 3,029,116.54 3,029,116.54 3,029,116.54 0.00Force majeure payments 476,751.87 476,751.87 476,751.87 0.00Health & safety 28,053.20 28,053.20 28,053.20 0.00Hire of equipment 154,959.09 154,959.09 154,959.09 0.00Insurance 286,317.41 286,317.41 280,066.76 6,250.65IT costs 106,931.12 106,931.12 106,931.12 0.00Licencing fees 25,685.88 25,685.88 25,685.88 0.00Refurbishment costs 282,889.61 282,889.61 282,889.61 0.00Refuse collection costs 63,062.87 63,062.87 63,062.87 0.00Repairs & maintenance 195,721.56 195,721.56 195,721.56 0.00Rent and rates 618,151.95 618,151.95 613,041.75 5,110.20Retention of title payments 1,149,758.05 1,149,758.05 1,149,758.05 0.00Security costs 915,915.10 915,915.10 915,915.10 0.00Subcontractors 50,347.95 50,347.95 50,347.95 0.00Sundry expenses 168,114.08 168,114.08 168,244.08 (130.00)Utilities 591,177.47 591,177.47 581,908.10 9,269.37

Total 26,963,750.35 13,053,011.38 2,611,825.91 42,628,587.64 35,420,465.38 7,208,122.26

Cash at Bank 1,879,637.26 415,331.21 4,143,985.84 6,438,954.31 6,448,116.07 (9,161.76)

46,575,000

Consolidated Abstract of Receipts and Payments to 28 January 2013

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Joint Administrators’ Remuneration and Expenses

The Administrators’ remuneration was fixed on a time-cost basis by the secured creditors. During the period from 27 October 2011 to the 25 January 2013, the Administrators have incurred time costs of £4,695,240.65. Of this sum, £2,991,742.00 has been drawn with the approval of the secured creditors.

Due to insufficient Fixed Charge realisations in respect of Finance and Plc, with the permission of the secured creditors, our fees in relation to these companies have been drawn from other Group entities. These recharges will not affect distributions to floating charge creditors.

An analysis of the time spent is attached as Appendix 3 to this report. At Appendix 4 there is a statement of the Administrators’ policy in relation to charging time and disbursements.

Entity Charged to Date (£) Drawn to Date (£) Luminar Finance Limited £28,376.82 £15,485.00 Luminar Gems Limited £1,127,148.35 £756,915.00 Luminar Group Holdings Plc £112,371.24 £61,526.00 Luminar Lava Ignite Limited £830,586.15 £616,499.50 Luminar Leisure Limited £316,927.67 £137,485.00 Luminar Liquid Limited £1,168,079.68 £752,619.50 Luminar Oceana Limited £1,111,750.74 £651,212.00 Total £4,695,240.65 £2,991,742.00

During the period from 27 October 2011 to the 25 January 2013, the Administrators have incurred expenses totalling £82,746.89 plus VAT. Of this sum, £81,057.45 has been drawn with the permission of the secured creditors. An analysis of the expenses charged, in addition to an analysis of Category 2 disbursements by entity (ie, those disbursements paid to the Joint Administrators’ firm) is attached as Appendix 3.

Entity Category 1 (£)

Drawn to Date

Category 2 (£)

Drawn to Date

Luminar Finance Limited £403.89 £0.00 £0.00 £0.00 Luminar Gems Limited £18,136.04 £18,079.61 £393.40 £393.40 Luminar Group Holdings Plc £4,373.12 £3,823.95 £45.90 £0.00 Luminar Lava Ignite Limited £11,626.00 £11,623.19 £1,276.20 £1,276.20 Luminar Leisure Limited £8,522.33 £8,380.89 £0.00 £0.00 Luminar Liquid Limited £15,201.42 £15,180.74 £2,228.61 £2,142.81 Luminar Oceana Limited £19,560.93 £19,177.61 £979.05 £979.05 Total £77,823.73 £76,265.99 £4,923.16 £4,791.46

In certain circumstances, creditors are entitled to request further information regarding the Administrators’ remuneration or expenses, or to apply to court on the grounds that the costs are considered to be excessive. (Rules 2.48A and 2.109 of the Insolvency Rules 1986). Further information is provided in Appendix 5.

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We estimate that an extension of the Administrations will incur further Administrators time costs of c. £250,000 over 14 months, assuming extensions to April 2014. We anticipate that the majority of these costs will relate to the lease assignment process; statutory reporting; insurance and contingent claims settlements; and taxation. We estimate that those time costs will be split between the 7 Companies as follows:

Entity Estimated future time costs £

Luminar Finance Ltd 4,500

Luminar Gems Ltd 60,000

Luminar Group Holdings plc 24,000

Luminar Lava Ignite Ltd 17,500

Luminar Leisure Ltd 24,000

Luminar Liquid Ltd 60,000

Luminar Oceana Ltd 60,000

Total 250,000

As detailed above and as agreed in the Joint Administrators Proposals, our actual remuneration drawn from the estate will be determined by the secured creditors.

Pre-administration costs

As previously stated the Administrators’ proposals dated 12 December 2011 included a statement of pre-administration costs which were outstanding at the date on which the company entered administration. On 26 March 2012, payment of the unpaid costs, totalling £247,336.50 was approved by the secured creditors and drawn from the Administration estates.

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Secured Creditors

Lloyds Banking Group PLC is the security trustee for the syndicated loans. The secured creditors also include, Barclays Bank PLC and the Royal Bank of Scotland PLC.

These borrowings were secured by fixed and floating charges over the assets of the Group together with cross guarantees between entities. As at 27 October 2011 the secured creditors’ indebtedness was c. £112.4m. It is still estimated that the secured creditors will experience a significant shortfall following distribution of the net fixed and floating charge realisations from the Administrations.

Preferential Creditors

There has been no change to the preferential creditor position since our last report, these are still estimated to be nil. Non-preferential Creditors

Whilst claims continue to be submitted, the current levels of non-preferential creditor balances are set out below.

Entity Total (£,000)

Luminar Finance Limited 659,986 Luminar Gems Limited 98,218 Luminar Group Holding PLC 2,566 Luminar Lava & Ignite Limited 1,071 Luminar Leisure Limited 45,899 Luminar Liquid Limited 25,971 Luminar Oceana Limited 37,753 Total 871,463

The non preferential creditors of each entity will receive a dividend via the Prescribed Part. This is discussed in further detail below. The total creditor balance includes known inter-company loans, trade creditors, taxation and personal injury claims.

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The Prescribed Part

The Prescribed Part is a proportion of floating charge assets set aside for non-preferential creditors pursuant to Section 176A of the Insolvency Act 1986. The Prescribed Part applies to floating charges created on or after 15 September 2003.

We have prepared a financial model to track the flow of the Prescribed Part distribution through the Group that arises as a result of the inter-company debtor balances, discussed above. As discussed the values for net property are currently incorrect

The Joint Administrators currently estimate, to the best of their knowledge and belief, that:

� The value of the net property of Finance will be £341,190 and the value of the Prescribed Part will be £71,238.

� The value of the net property of Gems will be £497,901 and the value of the Prescribed Part will be £102,580.

� The value of the net property of Plc will be £102,589 and the value of the Prescribed Part will be £23,518.

� The value of the net property of Lava Ignite will be £61,082 and the value of the Prescribed Part will be £15,216.

� The value of the net property of Leisure will be £1,084,117 and the value of the Prescribed Part will be £219,823.

� The value of the net property of Liquid will be £1,616,385 and the value of the Prescribed Part will be £326,277.

� The value of the net property of Oceana will be £1,573,579 and the value of the Prescribed Part will be £317,716.

The above estimates do not include provision for future Administrators fees and for calculation and distribution of the Prescribed Part, which will be agreed with the creditors in due course.

Distributions to Creditors

We estimate distributions via the Prescribed Part to non-preferential creditors from all companies in the Group.

There remain a number of issues to be resolved before we can provide a more accurate estimate of the Prescribed Part distributions and the potential impact on recoveries, which include;

• Realisation of the remaining floating charge assets, including debtors and rates refunds.

• Further verification of the level of inter-company liabilities, which are likely to reduce as part of the ongoing rationalisation process.

• Confirmation of the level of external creditors which will, in part, be dependent on the success in assigning the leases to the Purchaser.

We will update creditors in this regard in our next report.

14

I will report to you again in six months’ time. In the interim, should you have any queries, please do not hesitate to contact my colleague Rebecca Turner on the above details.

Yours faithfully for the Group (in Administration)

A M Hudson Joint Administrator Enc: Joint Administrators’ Receipts and Payments Account Summary of Joint Administrators’ Time-Costs and Category 2 Disbursements Joint Administrators’ Policy on Fees and Disbursements A M Hudson is licensed in the United Kingdom to act as an insolvency practitioner by The Association of Chartered Certified Accountants. A R Bloom and T Lukic are licensed in the United Kingdom to act as insolvency practitioners by The Institute of Chartered Accountants in England and Wales. The affairs, business and property of Luminar Finance Limited, Luminar Gems Limited, Luminar Group Holdings Plc, Luminar Lava Ignite Limited, Luminar Leisure Limited, Luminar Liquid Limited and Luminar Oceana Limited ("the Companies") are being managed by the Joint Administrators, A M Hudson, A R Bloom and T Lukic who act as agents of the Companies only and without personal liability. We may collect, use, transfer, store or otherwise process (collectively, “Process”) information that can be linked to specific individuals (“Personal Data”). We may Process Personal Data in various jurisdictions in accordance with applicable law and professional regulations including (without limitation) the Data Protection Act 1998.

ADM09F03 (2010)

Luminar Group Structure Chart Appendix 1

ADM09F03 (2010)

Appendix 2

Luminar Finance Limited (in Administration)

Joint Administrators’ Abstract of Receipts and Payments from 28 October 2011 to 28 January 2013







£ £ £ £ £ £ £RECEIPTSBank interest 315.40 315.40 228.82 86.58Book debts 68,909.20 68,909.20 68,909.20 0.00

Total 0.00 0.00 69,224.60 69,224.60 69,138.02 86.58 0.00

PAYMENTSVAT Receivable 1,927.64 1,927.64 1,927.64 0.00

Total 0.00 0.00 1,927.64 1,927.64 1,927.64 0.00

Cash at Bank 0.00 0.00 67,296.96 67,296.96 67,210.38 86.58 Notes

1. Receipts and payments are stated net of VAT.

2. Due to insufficient realisations in Finance and with the permission of the Secured Creditors:

- Fixed charge Joint Administrators fees totalling £15,485.00 were drawn from Liquid.

- Fixed charge pre-appointment Joint Administrators fees totalling £2,515.00, were drawn from Gems.

ADM09F03 (2010)

Luminar Gems Limited (in Administration)


Fixed Charge

Floating Charge (Trading)

Floating Charge (Other) Total

As per last report

26/10/12 Movement



£ £ £ £ £ £ £RECEIPTSBank interest 3,642.16 5,306.11 8,948.27 7,498.27 1,450.00Book debts 155.50 155.50 155.50 0.00 846,923Cash floats 95,075.99 95,075.99 95,075.99 0.00Cash in transit 279,564.26 279,564.26 279,564.26 0.00 108,589Deferred consideration interest 127,605.13 127,605.13 117,173.62 10,431.51Exchange coinage 58,285.00 58,285.00 58,285.00 0.00Fixtures, fittings & equipment 344,079.00 344,079.00 344,079.00 0.00Freehold property 2,302,636.40 2,302,636.40 1,514,640.20 787,996.20Leasehold property 3,347,530.59 3,347,530.59 2,699,380.59 648,150.00Rates refunds 27,247.67 27,247.67 27,247.67 0.00Stock 241,060.99 241,060.99 241,060.99 0.00 275,288Sundry income 2,865.21 2,865.21 2,865.21 0.00VAT payable 7.86 7.86 0.00 7.86

Trading ReceiptsRent and service charge income 10,958.90 10,958.90 10,958.90 0.00Trading sales 2,393,687.78 2,393,687.78 2,393,687.78 0.00

Total 5,653,809.15 2,645,707.67 940,191.73 9,239,708.55 7,791,672.98 1,448,035.57 10,655,800

PAYMENTSJoint Administrators fees 403,438.00 353,477.00 756,915.00 756,915.00 0.00Joint Administrators fees (pre-appointment) 65,144.50 16,523.00 81,667.50 81,667.50 0.00Joint Administrators disbursements 18,473.01 18,473.01 18,473.01 0.00Agents fees 4,748.06 4,748.06 4,748.06 0.00Bank charges 0.60 2.10 2.70 2.70 0.00Intra-Group loan 100,000.00 100,000.00 100,000.00 0.00Irrecoverable VAT 37,230.12 37,230.12 69,112.46 (31,882.34)Legal fees 142,050.51 43,406.28 185,456.79 220,751.03 (35,294.24)Secured creditors 4,300,000.00 4,300,000.00 2,800,000.00 1,500,000.00VAT Receivable 7,068.26 45,462.51 52,530.77 25,920.41 26,610.36

Trading PaymentsBank charges 10,000.00 10,000.00 10,000.00 0.00Cleaning 81,853.71 81,853.71 81,853.71 0.00Consumables 22,380.32 22,380.32 22,380.32 0.00Employee expenses 862.93 862.93 862.93 0.00Employee salaries & wages 537,213.37 537,213.37 537,213.37 0.00Event & promotional costs 175,408.56 175,408.56 175,408.56 0.00Food & beverage supplies 595,852.32 595,852.32 595,852.32 0.00Force majeure payments 127,347.88 127,347.88 127,347.88 0.00Health & safety costs 7,867.89 7,867.89 7,867.89 0.00Hire of equipment 1,760.24 1,760.24 1,760.24 0.00Insurance 75,933.20 75,933.20 75,933.20 0.00IT costs 14,333.32 14,333.32 14,333.32 0.00Licensing fees 1,738.93 1,738.93 1,738.93 0.00Management recharges 86,094.85 86,094.85 92,603.26 (6,508.41)Refuse collection costs 13,637.15 13,637.15 13,637.15 0.00Rent and rates 215,005.92 215,005.92 215,005.92 0.00Repairs and maintenance 42,334.50 42,334.50 42,334.50 0.00Retention of title 222,690.98 222,690.98 222,690.98 0.00Security Costs 206,110.87 206,110.87 206,110.87 0.00Sundry expenses 15,618.70 15,618.70 15,618.70 0.00Utilities 114,863.62 114,863.62 106,643.76 8,219.86

Total 4,917,701.87 2,568,909.26 619,322.08 8,105,933.21 6,644,787.98 1,461,145.23

Cash at Bank 736,107.28 76,798.41 320,869.65 1,133,775.34 1,146,885.00 (13,109.66)

9,425,000

Notes 1. Receipts and payments are stated net of VAT.

2. With the permission of the Secured Creditors, Gems has paid pre-appointment Joint Administrators fees totalling £18,582.50 on behalf of other Group entities.

3. Gems is currently owed £100,000 from Lava Ignite in respect of intra-group loans affected in Administration.

ADM09F03 (2010)

Luminar Group Holdings PLC (in Administration)




(Other) Total

As per last report

26/10/12 Movement



£ £ £ £ £ £ £RECEIPTSBank interest 2,418.86 2,418.86 2,182.22 236.64Book debts 0.00 0.00 0.00 550,000Cash in transit 0.00 0.00 0.00 9,301Intra-Group loan (Leisure) 0.00 0.00 0.00NewCo apportionments (4,220.27) (4,220.27) (8,576.83) 4,356.56Rent deposits 9,044.66 9,044.66 9,026.22 18.44Scheme refunds 103,230.45 103,230.45 103,230.45 0.00Sundry income 1,045.99 1,045.99 1,017.38 28.61VAT Payable 284,563.50 284,563.50 58,108.25 226,455.25

Total 0.00 0.00 396,083.19 396,083.19 164,987.69 231,095.50 559,301.00

PAYMENTSJoint Administrators fees 8,000.00 8,000.00 8,000.00 0.00Joint Administrators disbursements 3,823.95 3,823.95 3,823.95 0.00Bank charges 360.64 360.64 278.74 81.90Consideration for shares 5.00 5.00 5.00 0.00Corporation tax 39.28 39.28 39.28 0.00Rationalisation expenses 7,073.41 7,073.41 7,080.73 (7.32)VAT Receivable 214,546.59 214,546.59 9,503.36 205,043.23

Total 0.00 0.00 233,848.87 233,848.87 28,731.06 205,117.81

Cash at Bank 0.00 0.00 162,234.32 162,234.32 136,256.63 25,977.69 Notes 1. Receipts and payments are stated net of VAT.

2. Due to insufficient realisations in Finance and with the permission of the Secured Creditors:

- Fixed charge Joint Administrators fees totalling £53,526.00 were drawn from Oceana.


ADM09F03 (2010)

Luminar Lava Ignite Limited (in Administration)


Fixed Charge



As per last report

26/10/12 Movement



£ £ £ £ £ £ £RECEIPTSBank interest 402.82 1,893.90 2,296.72 1,877.44 419.28Book debts 75,552.55 75,552.55 75,552.55 0.00 1,166,071Cash floats 57,726.42 57,726.42 57,726.42 0.00Cash in transit 120,173.07 120,173.07 120,173.07 0.00 60,173Deferred consideration interest 11,644.27 11,644.27 9,629.69 2,014.58Exchange coinage 17,515.00 17,515.00 17,515.00 0.00Fixtures, fittings & equipment 34,545.00 34,545.00 34,545.00 0.00Freehold property 444,695.45 444,695.45 292,514.22 152,181.23Intra-Group loan 300,000.00 300,000.00 300,000.00 0.00Leasehold property 378,443.00 378,443.00 304,368.00 74,075.00Rates refunds 36,751.75 36,751.75 36,751.75 0.00Stock 166,410.11 166,410.11 166,410.11 0.00 221,485Sundry Income 4,721.87 4,721.87 4,721.87 0.00VAT payable 206.98 206.98 206.98 0.00


Total 823,541.27 1,478,665.62 660,730.81 2,962,937.70 2,734,247.61 228,690.09 3,297,729

PAYMENTSJoint Administrators fees 344,402.50 272,097.00 616,499.50 616,499.50 0.00Joint Administrators fees (pre-appointment) 34,597.50 14,903.00 49,500.50 49,500.50 0.00Joint Administrators disbursements 12,899.39 12,899.39 12,899.39 0.00Agents fees 11,285.52 11,285.52 11,285.52 0.00Bank charges 0.30 0.90 1.20 1.20 0.00Irrecoverable VAT 26,545.31 26,545.31 56,745.31 (30,200.00)Legal fees 89,736.25 17,874.47 107,610.72 114,541.36 (6,930.64)VAT Receivable 1,342.48 110,835.03 112,177.51 82,336.09 29,841.42

Trading PaymentsBank charges 10,000.00 10,000.00 10,000.00 0.00Cleaning 59,962.40 59,962.40 59,962.40 0.00Consumables 16,980.72 16,980.72 16,980.72 0.00Employee expenses 253.55 253.55 253.55 0.00Employee salaries & wages 294,431.53 294,431.53 294,431.53 0.00Event & promotional costs 183,424.03 183,424.03 183,424.03 0.00Food & beverage supplies 318,538.18 318,538.18 318,538.18 0.00Force majeure payments 79,731.57 79,731.57 79,731.57 0.00Health & safety costs 2,640.00 2,640.00 2,640.00 0.00Hire of equipment 8,629.28 8,629.28 8,629.28 0.00Insurance 71,614.25 71,614.25 71,614.25 0.00IT costs 5,951.00 5,951.00 5,951.00 0.00Licensing fees 548.50 548.50 548.50 0.00Management recharges (19,768.52) (19,768.52) (19,912.30) 143.78Refuse collection costs 10,627.22 10,627.22 10,627.22 0.00Repairs & maintenance 8,826.33 8,826.33 8,826.33 0.00Rent & rates 9,290.68 9,290.68 9,290.68 0.00Retention of title 163,010.86 163,010.86 163,010.86 0.00Security Costs 144,948.18 144,948.18 144,948.18 0.00Subcontractors 6,430.00 6,430.00 6,430.00 0.00Sundry expenses 34,244.28 34,244.28 34,244.28 0.00Utilities 85,985.50 85,985.50 85,377.18 608.32

Total 470,079.03 1,496,299.54 466,440.62 2,432,819.19 2,439,356.31 (6,537.12)

Cash at Bank 353,462.24 (17,633.92) 194,290.19 530,118.51 294,891.30 235,227.21

1,850,000


2. Lava Ignite currently has loans totalling £300,000 from other Group entities affected during the Administration period.

ADM09F03 (2010)

Luminar Leisure Limited (in Administration)








£ £ £ £ £ £ £RECEIPTSBank interest 1.81 5,917.00 5,918.81 5,014.81 904.00Book debts 555,761.20 555,761.20 555,761.20 0.00 2,038,418Cash in transit 337.30 337.30 337.30 0.00Contracts 1.00 1.00 1.00 0.00Fixtures, fittings & equipment 1.00 1.00 1.00 0.00 500,000Goodwill 1.00 1.00 1.00 0.00Licence prepayments 324,052.54 324,052.54 324,052.54 0.00Motor vehicles 13,397.00 13,397.00 13,397.00 0.00Plant & machinery 1.00 1.00 1.00 0.00Rates refunds 27,369.19 27,369.19 26,708.63 660.56Sundry income 23,090.42 23,090.42 23,090.42 0.00VAT Payable 4,435.05 4,435.05 34,386.74 (29,951.69)

Trading ReceiptsManagement Recharge 465,606.98 465,606.98 487,912.19 (22,305.21)Rent and service charge income 100,383.85 100,383.85 100,383.85 0.00Trading sales 471,131.88 471,131.88 448,956.67 22,175.21

Total 2.81 1,037,122.71 954,362.70 1,991,488.22 2,020,005.35 (28,517.13) 2,538,418

PAYMENTSJoint Administrators fees 20,000.00 20,000.00 20,000.00 0.00Joint Administrators disbursements 8,380.89 8,380.89 8,380.89 0.00Agents fees 3,580.39 3,580.39 3,580.39 0.00Bank charges 1,314.77 1,314.77 1,313.87 0.90Intra-Group Loan (Plc) 0.00 0.00 0.00Legal fees 88,369.63 88,369.63 76,154.58 12,215.05VAT Receivable 82,340.34 82,340.34 79,481.13 2,859.21

Trading PaymentsCleaning 761.75 761.75 761.75 0.00Consumables 181.73 181.73 181.73 0.00Employee expenses 27,430.05 27,430.05 27,430.05 0.00Employee salaries & wages 696,089.97 696,089.97 696,089.97 0.00Food & beverage supplies 13,886.20 13,886.20 13,886.20 0.00Health & safety 682.00 682.00 682.00 0.00Hire of equipment 23,243.27 23,243.27 23,243.27 0.00IT costs 54,653.95 54,653.95 54,653.95 0.00Refurbishments costs 1,379.00 1,379.00 1,379.00 0.00Refuse collection costs 1,275.10 1,275.10 1,275.10 0.00Rent & rates 49,972.27 49,972.27 49,972.27 0.00Repairs & maintenance 49,692.68 49,692.68 49,692.68 0.00Security costs 441.26 441.26 441.26 0.00Subcontractors 41,917.95 41,917.95 41,917.95 0.00Sundry expenses 8,514.78 8,514.78 8,644.78 (130.00)Utilities 67,000.75 67,000.75 67,000.75 0.00

Total 0.00 1,037,122.71 203,986.02 1,241,108.73 1,226,163.57 14,945.16

Cash at Bank 2.81 0.00 750,376.68 750,379.49 793,841.78 (43,462.29) Notes 1. Receipts and payments are stated net of VAT.

2. Due to insufficient realisations in Leisure and with the permission of the Secured Creditors:

- Fixed charge Joint Administrators fees totalling £117,485.00 were drawn from Liquid.


ADM09F03 (2010)

Luminar Liquid Limited (in Administration)


Fixed Charge



As per last report 26/10/12 Movement



£ £ £ £ £ £ £RECEIPTSBank Interest 6,264.00 12,801.73 19,065.73 16,155.98 2,909.75Book debts 1,597.68 1,597.68 1,597.68 0.00 1,035,529Cash floats 190,089.54 190,089.54 190,089.54 0.00Cash in transit 417,387.66 417,387.66 417,387.66 0.00 202,744Deferred consideration interest 290,763.31 290,763.31 252,165.18 38,598.13Exchange coinage 83,195.00 83,195.00 83,195.00 0.00Fixtures, fittings & equipment 628,538.00 628,538.00 628,538.00 0.00Freehold property 8,520,088.70 8,520,088.70 5,604,387.85 2,915,700.85Leasehold property 3,763,688.24 3,763,688.24 3,615,538.24 148,150.00Rates refunds 473,317.85 473,317.85 473,163.62 154.23Stock 377,197.74 377,197.74 377,197.74 0.00 503,500Sundry Income 1,808.42 1,808.42 1,791.38 17.04VAT Payable 16,606.84 16,606.84 0.00 16,606.84


Total 12,306,647.78 3,833,437.84 2,099,499.19 18,239,584.81 15,117,447.97 3,122,136.84 20,291,773

PAYMENTSJoint Administrators fees 589,131.50 357,379.50 946,511.00 946,511.00 0.00Joint Administrators fees (pre-appointment) 54,760.00 12,620.50 67,380.50 67,380.50 0.00Joint Administrators disbursements 17,323.55 17,323.55 17,323.55 0.00Agents fees 89,030.10 89,030.10 89,030.10 0.00Bank charges 71.06 2.70 73.76 2.10 71.66Intra-Group loan 100,000.00 100,000.00 100,000.00 0.00Irrecoverable VAT 52,003.43 52,003.43 71,387.43 (19,384.00)Legal fees 292,175.60 54,033.45 346,209.05 412,347.43 (66,138.38)Secured creditors 10,900,000.00 10,900,000.00 7,600,000.00 3,300,000.00VAT Receivable 50,901.10 43,268.78 94,169.88 65,910.26 28,259.62

Trading PaymentsBank charges 10,000.00 10,000.00 10,000.00 0.00Cleaning 149,380.09 149,380.09 149,380.09 0.00Consumables 40,151.80 40,151.80 40,151.80 0.00Employee expenses 3,512.59 3,512.59 3,512.59 0.00Employee salaries & wages 668,533.31 668,533.31 668,533.31 0.00Event & promotional costs 279,420.92 279,420.92 279,420.92 0.00Food & beverage supplies 966,434.21 966,434.21 966,434.21 0.00Force majeure payments 121,342.95 121,342.95 121,342.95 0.00Health & safety costs 6,424.70 6,424.70 6,424.70 0.00Hire of equipment 7,641.49 7,641.49 7,641.49 0.00Insurance 72,494.97 72,494.97 66,244.32 6,250.65IT costs 20,528.33 20,528.33 20,528.33 0.00Licensing fees 20,422.15 20,422.15 20,422.15 0.00Management Recharges 211,809.76 211,809.76 222,537.59 (10,727.83)Refurbishment costs 14,159.00 14,159.00 14,159.00 0.00Refuse collection costs 18,309.55 18,309.55 18,309.55 0.00Rent and rates 207,255.88 207,255.88 203,048.14 4,207.74Repairs and maintenance 56,571.57 56,571.57 56,571.57 0.00Retention of title 351,967.35 351,967.35 351,967.35 0.00Security Costs 226,986.31 226,986.31 226,986.31 0.00Sundry expenses 38,089.53 38,089.53 38,089.53 0.00Utilities 153,062.62 153,062.62 153,062.62 0.00

Total 11,887,039.26 3,644,499.08 725,662.01 16,257,200.35 13,014,660.89 3,242,539.46

Cash at Bank 419,608.52 188,938.76 1,373,837.18 1,982,384.46 2,102,787.08 (120,402.62)

18,550,000


2. With the permission of the Secured Creditors, Liquid has paid Joint Administrators fees totalling £193,891.50 on behalf of other Group entities.

3. Liquid is currently owed £100,000 from Lava Ignite in respect of intra-group loans affected in Administration.

ADM09F03 (2010)

Luminar Oceana Limited (in Administration)


Fixed Charge



As per last report 26/10/12 Movement



£ £ £ £ £ £ £RECEIPTSBank interest 5,342.98 12,456.00 17,798.98 15,176.81 2,622.17Book debts 61,212.31 61,212.31 61,212.31 0.00 86,311Cash floats 145,700.00 145,700.00 145,700.00 0.00Cash in transit 294,275.45 294,275.45 294,275.45 0.00 149,804Deferred consideration interest 240,321.06 240,321.06 211,937.11 28,383.95Exchange coinage 62,043.00 62,043.00 62,043.00 0.00Fixtures, fittings & equipment 573,837.00 573,837.00 573,837.00 0.00Freehold property 6,265,426.45 6,265,426.45 4,121,304.73 2,144,121.72Leasehold property 3,788,617.17 3,788,617.17 3,788,617.17 0.00Rates refunds 544,921.69 544,921.69 544,921.69 0.00Stock 520,337.42 520,337.42 520,337.42 0.00 547,634Sundry income 948.02 948.02 948.02 0.00VAT payable 0.00 0.00 0.00

Trading ReceiptsRent and service charge income (763.46) (763.46) (763.46) 0.00 1,799,162Trading sales 4,419,441.77 4,419,441.77 4,419,441.77 0.00

Total 10,059,386.60 4,939,015.73 1,935,714.53 16,934,116.86 14,758,989.02 2,175,127.84 18,832,911

PAYMENTSJoint Administrators fees 417,119.00 287,619.00 704,738.00 704,738.00 0.00Joint Administrators fees (pre-appointment) 36,407.00 12,381.00 48,788.00 48,788.00 0.00Joint Administrators disbursements 20,156.66 20,156.66 20,156.66 0.00Agents fees 88,559.92 88,559.92 87,409.68 1,150.24Bank charges 0.30 3.90 4.20 3.90 0.30Intra-Group loan 100,000.00 100,000.00 100,000.00 0.00Irrecoverable VAT 68,331.23 68,331.23 79,918.09 (11,586.86)Legal fees 400,255.98 48,722.08 448,978.06 389,158.78 59,819.28Secured creditors 8,800,000.00 8,800,000.00 6,600,000.00 2,200,000.00VAT Receivable 35,147.91 34,859.89 70,007.80 46,915.15 23,092.65

Trading PaymentsBank charges 10,000.00 10,000.00 10,000.00 0.00Cleaning 193,722.30 193,722.30 193,722.30 0.00Consumables 51,172.96 51,172.96 51,172.96 0.00Employee expenses 9,610.84 9,610.84 9,610.84 0.00Employee salaries & wages 887,087.93 887,087.93 887,087.93 0.00Event & promotional costs 490,230.27 490,230.27 490,230.27 0.00Food & beverage supplies 1,134,405.63 1,134,405.63 1,134,405.63 0.00Force majeure payments 148,329.47 148,329.47 148,329.47 0.00Health & safety costs 10,438.61 10,438.61 10,438.61 0.00Hire of equipment 113,684.81 113,684.81 113,684.81 0.00Insurance 66,274.99 66,274.99 66,274.99 0.00IT costs 11,464.52 11,464.52 11,464.52 0.00Licensing fees 2,976.30 2,976.30 2,976.30 0.00Management recharges 187,470.88 187,470.88 192,683.63 (5,212.75)Refurbishment costs 267,351.61 267,351.61 267,351.61 0.00Refuse collection costs 19,213.85 19,213.85 19,213.85 0.00Rent and rates 136,627.20 136,627.20 135,724.74 902.46Repairs and maintenance 38,296.48 38,296.48 38,296.48 0.00Retention of title 412,088.86 412,088.86 412,088.86 0.00Security Costs 337,428.48 337,428.48 337,428.48 0.00Subcontractors 2,000.00 2,000.00 2,000.00 0.00Sundry expenses 71,646.79 71,646.79 71,646.79 0.00Utilities 170,264.98 170,264.98 169,823.79 441.19

Total 9,688,930.19 4,771,787.76 660,633.68 15,121,351.63 12,852,745.12 2,268,606.51

Cash at Bank 370,456.41 167,227.97 1,275,080.85 1,812,765.23 1,906,243.90 (93,478.67)

16,250,000


2. With the permission of the Secured Creditors, Oceana has paid Joint Administrators fees totalling £53,526.00 on behalf of other Group entities.

3. Oceana is currently owed £100,000 from Lava Ignite in respect of intra-group loans affected in Administration.

ADM09F03 (2010)

Appendix 3

The Group (Consolidated)

Summary of Joint Administrators’ Time-Costs and Category 2 Disbursements from 27 October 2011 to 25 January 2013

Lu m i na r G rou p C on s o l i d a t ed S IP 9 (27 O c t ob er 201 1 - 2 5 J a nu ary 20 13 )

A c t iv i ty P a r tn e r / E x e c u t iv e

D i r e c t o r D i r e c t o r A s s is t a n t D ir e c t o r M a n a g e r E x e c u t iv e A n a ly s t T o t a l s u m o f h o u r s

( £ )A v e r a g e h o u r ly r a t e

( £ )T im e c o s t s f o r p e r io d

( £ )

T ime c o s t s f o r t h e A d min s t r a t io n t o d a t e

( £ ) Accounting and Administration (R013) 15.9 9.3 11.9 303.2 305.4 1,198.8 1,844.50 264.28 487,460.78 4 8 7 , 4 6 0 . 7 8 Bank & Statutory Reporting (R003) 57.2 158.2 80.7 80.5 91.9 40.8 509.30 427.61 217,783.00 2 1 7 , 7 8 3 . 0 0 Creditors (Mandatory) (R009) 35.2 6.5 15.5 15.0 50.4 232.7 355.30 265.36 94,284.00 9 4 , 2 8 4 . 0 0 Employee Matters (R012) 13.1 8.4 163.3 3.0 69.1 2.0 258.90 362.05 93,735.00 9 3 , 7 3 5 . 0 0 Immediate Tasks (R002) 28.5 25.5 134.9 306.8 461.6 256.3 1,213.60 355.07 430,907.00 4 3 0 , 9 0 7 . 0 0 Job Acceptance & Strategy (M) (R001) 5.0 41.5 - 13.4 - 1.2 61.10 456.65 27,901.50 2 7 , 9 0 1 . 5 0

Legal Issues (R019) 8.8 - 6.5 31.2 3.0 113.2 162.70 269.08 43,780.00 4 3 , 7 8 0 . 0 0 Other Assets (Mandatory) (R006) 2.0 - 6.2 16.0 9.0 25.5 58.70 288.00 16,905.50 1 6 , 9 0 5 . 5 0 Other Matters (R018) 31.0 4.0 43.0 28.2 94.6 44.3 245.10 371.37 91,022.00 9 1 , 0 2 2 . 0 0 Property (R004) 103.9 143.2 909.7 130.8 787.3 836.5 2,911.40 297.66 866,606.50 8 6 6 , 6 0 6 . 5 0 Retention of Title (R008) 2.8 2.8 18.0 16.6 - 4.5 44.70 398.64 17,819.00 1 7 , 8 1 9 . 0 0 Statutory Duties (R016) 14.1 21.8 - 105.6 88.7 220.9 451.10 281.52 126,992.50 1 2 6 , 9 9 2 . 5 0 Trading (Mandatory) (R007) 88.2 91.7 317.8 445.6 269.3 1,163.6 2,376.20 300.09 713,081.00 7 1 3 , 0 8 1 . 0 0 VAT & Taxation (R017) 9.2 120.9 320.9 209.2 371.0 166.4 1,197.60 536.77 642,836.37 6 4 2 , 8 3 6 . 3 7 Debtors (R005) 0.2 1.0 2.9 12.1 23.8 282.1 322.10 207.11 66,709.50 6 6 , 7 0 9 . 5 0 Investigation/CDDA (Mandatory) (R011) - - - 8.9 38.6 - 47.50 304.36 14,457.00 1 4 , 4 5 7 . 0 0 Sale of Business and Assets (0001) 437.2 184.4 357.0 231.9 163.0 4.5 1,378.00 537.21 740,282.00 7 4 0 , 2 8 2 . 0 0 Public Relations Issues (R014) 0.8 - - 1.0 - - 1.80 475.56 856.00 8 5 6 . 0 0 Members (R010) - - - - 1.0 - 1.00 225.00 225.00 2 2 5 . 0 0 Out of scope (R020) 0.5 - - - - - 0.50 770.00 385.00 3 8 5 . 0 0 Environmental Issues (R015) - - 1.0 - - 4.2 5.20 233.08 1,212.00 1 , 2 1 2 . 0 0

G r a n d T o t a l 8 5 3 . 6 8 1 9 . 2 2 , 3 8 9 . 3 1 , 9 5 9 . 0 2 ,8 2 7 . 7 4 ,5 9 7 . 5 1 3 ,4 4 6 . 3 0 7 , 6 2 6 .4 6 4 , 6 9 5 , 2 4 0 .6 5 4 , 6 9 5 , 2 4 0 . 6 5 A v e r a g e h o u r ly r a te ( £ ) 7 3 0 . 7 4 5 2 0 . 9 7 4 9 0 .9 6 4 2 4 .9 5 2 8 6 .6 5 1 8 0 . 2 3 T ime c o s t s f o r t h e p e r io d ( £ ) 6 2 3 ,7 6 1 . 0 0 4 2 6 ,7 7 8 . 5 0 1 , 1 7 3 , 0 6 0 .4 2 8 3 2 , 4 8 5 .0 0 8 1 0 , 5 7 0 . 8 5 8 2 8 , 5 8 4 . 8 8 T ime c o s t s f o r t h e A d m in is t r a t io n t o d a t e ( £ ) 6 2 3 ,7 6 1 . 0 0 4 2 6 ,7 7 8 . 5 0 1 , 1 7 3 , 0 6 0 .4 2 8 3 2 , 4 8 5 .0 0 8 1 0 , 5 7 0 . 8 5 8 2 8 , 5 8 4 . 8 8

Lu m i na r G rou p C on s o l i d a t ed D i s b urs e m en t s (2 7 O c t o ber 20 11 - 25 J a nu ary 20 13 )

C a te g o r y 1 E x p e n s e s N a tu r e o f e x p e n s e A mo u n t - £ B a s is o f c h a r g eAccomodation 23,154.61 Mileage - managers car 2,569.26 16p per mileAdministration expenses 2,584.68 Mileage - own car 2,353.90 45p per mileCell phone expenses 364.06 4 , 9 2 3 . 1 6 Meals 9,846.13 Of fice Supplies 16,939.42 Transport 22,504.83 Willis 2,430.00

77,823.73

H o u r s

ADM09F03 (2010)

Appendix 3

Luminar Finance Limited (in Administration)

Summary of Joint Administrators’ Time-Costs and Category 2 Disbursements from 27 October 2011 to 25 January 2013 Luminar Finance Ltd SIP 9 (27 October 2011 - 25 J anuary 2013)

Ac t iv i ty Par tne r / E x ec u t iv e

D ir ec to r D ir ec to r A s s is ta n t D ir ec to r Ma nag er Ex ec u t iv e A na ly s t T o ta l s u m o f ho ur sA v er a ge ho ur ly r a te

( £ )T ime c o s ts fo r

pe r iod (£ )

T ime c os ts fo r t he Ad mins tr a tion to

da te ( £ ) Accounting and Administration (R013) - - - 11.8 1.2 7.7 20.7 327.46 6,778.50 6,77 8 .50Bank & Statutory Reporting (R003) - - 0.1 3.0 2.5 - 5.6 356.96 1,999.00 1,99 9 .00Creditors (Mandatory) (R009) - - - 0.5 0.6 8.5 9.6 194.84 1,870.50 1,87 0 .50Legal Issues (R019) - - 0.2 - - - 0.2 410.00 82.00 8 2.00Property (R004) - - 5.6 - - - 5.6 396.79 2,222.00 2,22 2 .00Statutory Duties (R016) - - - 12.2 1.9 13.8 27.9 294.07 8,204.50 8,20 4 .50VAT & Taxation (R017) - 0.2 3.1 2.8 0.7 7.1 13.9 379.84 5,279.82 5,27 9 .82Investigation/CDDA (Mandatory) (R011) - - - 0.5 5.9 - 6.4 303.20 1,940.50 1,94 0 .50

G r a nd T o ta l - 0 .2 9 .0 30 .8 12 .8 3 7 .1 8 9 .9 2 ,663 .1 7 28 ,3 76 .82 28 ,37 6 .82Av e r age h our ly r a te ( £ ) - 9 20 .00 54 1 .28 439 .3 7 2 92 .1 9 16 3 .04 T ime c os ts fo r t he p er io d ( £ ) - 1 84 .00 4 ,871 .50 13 ,5 32 .50 3 ,7 40 .00 6 ,04 8 .82 T ime c os ts fo r t he A dmin is tr a tion to d a te ( £ ) - 1 84 .00 4 ,871 .50 13 ,5 32 .50 3 ,7 40 .00 6 ,04 8 .82

Luminar Finance Ltd Dis bursements (27 Oc tober 2011 - 25 J anuary 2013)

C a te gor y 1 Ex p ens esAdministration expenses 205.14 Office supplies 78.75 Willis 120.00

403.89

H our s

ADM09F03 (2010)

Appendix 3

Luminar Gems Limited (in Administration)


Lum i nar G em s L td S IP 9 (27 O c tober 2011 - 25 J anuary 2013)

Ac tiv i ty Pa r t ne r / Ex ec u t iv e

D ir ec t o r D ir ec t o r As s is tan t D ir ec to r M ana ger Ex ec u t iv e Ana ly s t T o t a l s um o f hou r s ( £ )Av e r a ge hou r ly r a te

( £ )T ime c os ts fo r p e r iod

( £ )

T ime c os t s f o r the Admins tr a t ion t o da te

( £ ) Accounting and Administration (R013) 1.0 - 1.4 63.4 77.8 277.8 421.4 259.78 109,470.21 1 09 ,47 0 .21Bank & Statutory Reporting (R003) 11.2 32.0 23.3 21.1 19.3 14.3 121.2 415.38 50,343.50 50 ,34 3 .50Creditors (Mandatory) (R009) 11.1 1.7 3.5 1.8 8.5 43.7 70.3 298.31 20,971.00 20 ,97 1 .00Employee Matters (R012) 2.2 1.2 41.6 1.0 18.9 0.4 65.3 355.55 23,217.50 23 ,21 7 .50Immediate Tasks (R002) 5.0 3.0 63.4 140.3 77.6 65.5 354.8 392.74 139,343.50 1 39 ,34 3 .50Job Acceptance & Strategy (M) (R001) 1.3 9.2 - 3.0 - 0.3 13.8 459.96 6,347.50 6 ,34 7 .50Legal Issues (R019) 1.3 - 0.2 0.3 1.0 26.4 29.2 207.50 6,059.00 6 ,05 9 .00Other Assets (Mandatory) (R006) 0.5 - 0.1 4.5 9.0 7.0 21.1 281.61 5,942.00 5 ,94 2 .00Other Matters (R018) 8.0 - 12.2 2.8 39.5 25.8 88.3 319.34 28,198.00 28 ,19 8 .00

Property (R004) 21.5 8.9 247.7 30.7 228.9 246.9 784.6 282.39 221,560.00 2 21 ,56 0 .00Retention of Title (R008) 1.0 0.7 4.5 4.3 - - 10.5 433.95 4,556.50 4 ,55 6 .50Statutory Duties (R016) 2.8 3.3 - 17.6 23.3 30.1 77.1 300.83 23,194.00 23 ,19 4 .00Trading (Mandatory) (R007) 13.8 20.1 73.2 136.4 62.5 284.3 590.3 304.91 179,991.00 1 79 ,99 1 .00VAT & Taxation (R017) 0.4 21.2 91.3 22.9 28.7 28.9 193.4 582.65 112,684.14 1 12 ,68 4 .14Debtors (R005) - - 1.4 1.5 7.0 56.6 66.5 209.22 13,913.00 13 ,91 3 .00Investigation/CDDA (Mandatory) (R011) - - - 0.7 5.9 - 6.6 306.14 2,020.50 2 ,02 0 .50Sale of Business and Assets (0001) 101.7 45.8 88.5 56.8 40.0 - 332.8 538.31 179,148.00 1 79 ,14 8 .00Environmental Issues (R015) - - - - - 1.4 1.4 135.00 189.00 18 9 .00

G r and T o ta l 182 .8 147 . 1 65 2 .3 509 . 1 6 47 .9 1 ,109 . 4 3 , 248 . 6 6 ,083 .56 1 , 127 , 148 . 35 1 ,1 27 ,14 8 .35Av er ag e hour ly r a te ( £ ) 751 .12 510 . 92 50 1 .22 413 . 51 2 74 .51 179 . 71 T ime c os t s f o r the pe r iod ( £ ) 137 ,305 . 50 75 , 156 .0 0 32 6 ,945 .00 210 , 517 . 50 1 77 ,85 8 .25 199 , 366 . 10 T ime c os t s f o r the Admin is t r a t ion t o d a te ( £ ) 137 ,305 . 50 75 , 156 .0 0 32 6 ,945 .00 210 , 517 . 50 1 77 ,85 8 .25 199 , 366 . 10

Lum i nar G em s L td D is burs em ents (27 Oc t ober 2011 - 25 J anuary 2013)

C atego r y 1 Ex pen s es N a t u r e o f ex pe ns e Amoun t - £ Ba s is o f c ha r geAccomodation 5,833.69 Mileage - managers car 291.50 16p per mileAdministration expenses 354.47 Mileage - own car 101.90 45p per mileCell phone expenses 112.82 393 . 40 Meals 2,866.79 Of fice Supplies 109.56 Transport 8,308.71 Willis 550.00

18,136.04

H our s

ADM09F03 (2010)

Appendix 3

Luminar Group Holdings PLC (in Administration)


Luminar Group Holdings PLC SIP 9 (27 October 2011 - 25 January 2013)

Act iv ity Par tner / Exec utive

D ir ec tor Direc tor Ass is tant Direc tor Manager Exec ut iv e Analys t T ota l sum of hours Aver age hour ly r ate ( £)T ime c os ts for per iod

(£)

Time cos ts for the Admins tr ation to date

( £) Accounting and Administration (R013) 1.6 2.0 6.2 56.3 31.0 51.0 148.1 306.69 45,420.42 45,420.42Bank & Statutory Reporting (R003) 10.0 5.3 1.0 3.0 18.5 - 37.8 428.73 16,206.00 16,206.00Creditors (Mandatory) (R009) - 0.3 1.5 1.5 8.9 9.3 21.5 241.42 5,190.50 5,190.50Immediate Tasks (R002) 0.5 - - - 0.2 - 0.7 634.29 444.00 444.00Job Acceptance & Strategy (M) (R001) - 2.7 - 1.4 - - 4.1 433.05 1,775.50 1,775.50Legal Issues (R019) - - - - - 0.5 0.5 45.00 22.50 22.50Other Assets (Mandatory) (R006) - - 2.6 1.0 - - 3.6 392.78 1,414.00 1,414.00Other Matters (R018) - - 1.5 1.0 - - 2.5 402.00 1,005.00 1,005.00Property (R004) - - - - 1.0 - 1.0 225.00 225.00 225.00Statutory Duties (R016) 0.5 5.6 - 18.4 12.0 16.2 52.7 311.76 16,430.00 16,430.00Trading (Mandatory) (R007) 1.5 1.0 - 3.0 12.0 6.5 24.0 313.54 7,525.00 7,525.00VAT & Taxation (R017) 2.0 - 3.1 5.7 6.4 10.4 27.6 393.29 10,854.82 10,854.82Debtors (R005) - - 1.5 - - - 1.5 390.00 585.00 585.00Investigation/CDDA (Mandatory) (R011) - - - 0.5 13.3 - 13.8 263.30 3,633.50 3,633.50Sale of Business and Assets (0001) 1.0 - - - - - 1.0 770.00 770.00 770.00Members (R010) - - - - 1.0 - 1.0 225.00 225.00 225.00Environmental Issues (R015) - - 1.0 - - - 1.0 645.00 645.00 645.00

Grand Total 17.1 16.9 18.4 91.8 104.3 93.9 342.4 6,420.84 112,371.24 112,371.24Average hour ly r ate (£) 778.19 461.83 495.29 418.52 249.81 188.19 Time cos ts for the per iod (£) 13,307.00 7,805.00 9,113.42 38,420.00 26,055.00 17,670.82 Time cos ts for the Adminis tra tion to date (£) 13,307.00 7,805.00 9,113.42 38,420.00 26,055.00 17,670.82

Luminar Group Holdings PLC Disbursements (27 October 2011 - 25 January 2013)

Category 1 Expens es Nature of expense Amount - £ Bas is of chargeAccomodation 223.92 Mileage - managers car - 16p per mileAdministration expenses 797.39 Mileage - own car 45.90 45p per mileMeals 1,265.89 45.90 Off ice Supplies 1,164.89 Transport 631.03 Willis 290.00

4,373.12

Hour s

ADM09F03 (2010)

Appendix 3

Luminar Lava Ignite Limited (in Administration)

Summary of Joint Administrators’ Time-Costs and Category 2 Disbursements from 27 October 2011 to 25 January 2013 Lu m in ar L av a Ign it e Lt d S IP 9 (27 Oc to ber 201 1 - 25 J anu ary 20 13)

Ac tiv it y Pa r t ne r / Ex e c u tiv e

D ir ec t o r D ir e c t o r As s is t an t D ir ec to r M a na ge r E x e c u tiv e An a ly s t T o ta l s um o f ho u r s Av e r a ge hou r ly r a t e ( £ )T ime c o s t s f o r p e r iod

( £ )

T ime c os t s f o r th e Ad mins tr a t ion t o d a t e

( £ ) Accounting and Administration (R013) 0.5 2.0 0.3 16.4 11.6 249.8 280.6 231.41 64,934.48 64 ,9 34 .4 8Bank & Statutory Reporting (R003) 10.9 35.8 10.6 5.3 8.6 6.8 78.0 454.87 35,479.50 35 ,4 79 .5 0Creditors (Mandatory) (R009) 9.3 1.0 3.5 0.4 5.7 20.9 40.8 344.58 14,059.00 14 ,0 59 .0 0Employee Matters (R012) 2.4 1.7 39.6 1.0 17.2 0.6 62.5 356.72 22,295.00 22 ,2 95 .0 0Immediate Tasks (R002) 5.0 2.5 10.7 56.7 94.8 15.4 185.1 386.50 71,542.00 71 ,5 42 .0 0Job Acceptance & Strategy (M) (R001) 1.2 9.2 - 3.0 - 0.3 13.7 457.70 6,270.50 6 ,2 70 .5 0Legal Issues (R019) 1.2 - 0.2 0.3 - 28.8 30.5 202.36 6,172.00 6 ,1 72 .0 0Other Assets (Mandatory) (R006) 0.5 - - - - 6.5 7.0 183.21 1,282.50 1 ,2 82 .5 0Other Matters (R018) 7.0 1.0 12.4 2.8 21.6 3.0 47.8 415.31 19,852.00 19 ,8 52 .0 0Property (R004) 27.6 10.8 91.0 25.5 91.1 127.0 373.0 308.73 115,156.00 1 15 ,1 56 .0 0Retention of Title (R008) 0.5 0.7 4.5 4.3 - - 10.0 417.15 4,171.50 4 ,1 71 .5 0Statutory Duties (R016) 2.2 2.8 - 14.1 2.7 32.3 54.1 273.10 14,774.50 14 ,7 74 .5 0Trading (Mandatory) (R007) 9.1 22.6 85.2 80.8 70.9 265.5 534.1 294.06 157,058.00 1 57 ,0 58 .0 0VAT & Taxation (R017) 0.5 19.4 66.3 19.5 17.4 26.7 149.8 601.29 90,073.14 90 ,0 73 .1 4Debtors (R005) - - - 0.5 2.8 60.8 64.1 196.54 12,598.50 12 ,5 98 .5 0Investigation/CDDA (Mandatory) (R011) - - - 0.5 1.5 - 2.0 321.25 642.50 6 42 .5 0Sale of Business and Assets (0001) 121.6 43.8 89.5 57.8 42.5 2.5 357.7 541.81 193,805.03 1 93 ,8 05 .0 3Public Relations Issues (R014) - - - 1.0 - - 1.0 420.00 420.00 4 20 .0 0

G r an d T o t a l 1 99 .5 15 3 . 3 413 . 8 2 89 .9 38 8 . 4 84 6 . 9 2 , 2 91 . 8 6 , 40 6 . 60 83 0 , 58 6 . 15 8 30 ,5 86 .1 5

Av er ag e ho ur ly r a te ( £ ) 7 41 . 96 5 03 .7 1 50 8 . 45 420 . 03 2 98 .4 8 18 5 . 68 T ime c os ts fo r t he p e r io d ( £ ) 14 8 , 02 1 . 00 77 ,2 18 .5 0 2 10 , 3 97 . 0 0 12 1 , 76 6 . 50 1 15 ,9 31 . 25 1 57 , 2 51 .9 0 T ime c os ts fo r t he A dmin is tr a t ion to d a t e ( £ ) 14 8 , 02 1 . 00 77 ,2 18 .5 0 2 10 , 3 97 . 0 0 12 1 , 76 6 . 50 1 15 ,9 31 . 25 1 57 , 2 51 .9 0

Lu m in ar L av a Ign it e Lt d Dis bu rs em en ts (27 Oc to be r 201 1 - 25 J an uary 20 13)

C a te go r y 1 E x p en s e s N a t u r e o f ex pe ns e Amou n t - £ Ba s is o f c h a r geAccomodation 4,925.27 Mileage - managers car 502.20 16p per mileAdministration expenses 205.15 Mileage - own car 774.00 45p per mileCell phone expenses 159.72 1 , 27 6 . 20 Meals 1,281.28 Of fice Supplies 19.19 Transport 4,615.39 Willis 420.00

11,626.00

H ou r s

ADM09F03 (2010)

Appendix 3

Luminar Leisure Limited (in Administration)

Summary of Joint Administrators’ Time-Costs and Category 2 Disbursements from 27 October 2011 to 25 January 2013 Lu m in ar L eis ure Lt d S IP 9 (27 Oc to ber 201 1 - 25 J anu ary 201 3)

Ac tiv it y Pa r t ne r / Ex e c u tiv e

D ir ec t o r D ir e c t o r As s is t an t D ir ec to r M a na ge r E x e c u tiv e An a ly s t T o ta l s um o f ho u r s Av e r a ge hou r ly r a t e ( £ )T ime c o s t s f o r p e r iod

( £ )

T ime c os t s f o r th e Ad mins tr a t ion t o d a t e

( £ ) Accounting and Administration (R013) 4.5 - 0.1 35.7 2.6 43.6 86.5 9,301.50 27,580.00 27 ,5 80 .0 0Bank & Statutory Reporting (R003) 1.7 3.0 0.1 7.3 4.5 - 16.6 0.00 7,187.00 7 ,1 87 .0 0Creditors (Mandatory) (R009) 1.3 1.5 - 10.0 13.0 61.6 87.4 10,012.50 19,568.00 19 ,5 68 .0 0Employee Matters (R012) 3.7 1.6 6.5 - - - 11.8 0.00 5,281.00 5 ,2 81 .0 0Immediate Tasks (R002) - - - - - - - 0.00 0.00 0 .0 0Legal Issues (R019) 0.8 - - 2.0 - 0.0 2.8 0.00 1,296.00 1 ,2 96 .0 0Other Assets (Mandatory) (R006) - - - 1.5 - - 1.5 0.00 630.00 6 30 .0 0Other Matters (R018) - - - 0.5 - - 0.5 0.00 210.00 2 10 .0 0Property (R004) 18.9 - - 16.5 - 0.0 35.4 0.00 20,166.50 20 ,1 66 .5 0Retention of Title (R008) 0.3 - - - - 4.5 4.8 745.00 988.00 9 88 .0 0Statutory Duties (R016) 0.4 - - 15.2 2.2 41.7 59.5 6,943.00 13,970.00 13 ,9 70 .0 0Trading (Mandatory) (R007) 0.9 0.3 - 1.0 - 2.0 4.2 350.00 1,536.00 1 ,5 36 .0 0VAT & Taxation (R017) 5.5 39.1 5.3 96.1 249.6 36.7 432.3 4,495.15 208,828.67 2 08 ,8 28 .6 7Debtors (R005) - 1.0 - 7.1 - - 0.0 8.1 0.00 3,295.00 3 ,2 95 .0 0Investigation/CDDA (Mandatory) (R011) - - - 5.2 4.9 - 10.1 0.00 3,525.50 3 ,5 25 .5 0Sale of Business and Assets (0001) 2.6 - - 1.9 - - 4.5 0.00 2,866.00 2 ,8 66 .0 0

G r an d T o t a l 40 . 6 4 6 . 5 12 . 0 2 00 .0 27 6 . 8 19 0 . 1 7 66 .0 3 1 , 84 7 . 15 31 6 , 92 7 . 67 3 16 ,9 27 .6 7

Av er ag e ho ur ly r a te ( £ ) 6 89 . 83 8 59 .5 1 58 0 . 25 511 . 54 3 89 .5 8 16 7 . 53 T ime c os ts fo r t he p e r io d ( £ ) 2 8 , 00 7 . 00 39 ,9 67 .0 0 6 , 96 3 . 00 10 2 , 30 8 . 50 1 07 ,8 35 . 02 3 1 , 8 47 . 1 5 T ime c os ts fo r t he A dmin is tr a t ion to d a t e ( £ ) 2 8 , 00 7 . 00 39 ,9 67 .0 0 6 , 96 3 . 00 10 2 , 30 8 . 50 1 07 ,8 35 . 02 3 1 , 8 47 . 1 5

Lu m in ar L eis ure Lt d Dis bu rs em en ts (27 Oc to ber 201 1 - 25 J anu ary 20 13)

C a te go r y 1 E x p en s e s

Administration expenses 348.15 Of fice Supplies 7,712.44 Meals 121.44 Transport 130.30 Willis 210.00

8,522.33

H ou r s

ADM09F03 (2010)

Appendix 3

Luminar Liquid Limited (in Administration)


Lum in ar Liquid L td S IP 9 (2 7 Oc t obe r 2011 - 25 J anua ry 2013 )

Ac t iv it y Pa r t ne r / E x ec u tiv e

D ir ec t o r D ir ec to r As s is ta n t D ir e c t o r M ana ger Ex ec u t iv e Ana ly s t T o ta l s u m o f hou r s A v er age h our ly r a t e ( £ )T ime c os t s fo r pe r io d

( £ )

T ime c os ts f o r t he Admins t r a t ion t o da t e

( £ ) Accounting and Administration (R013) 1.0 - 1.7 59.0 85.5 276.5 423.7 259.86 110,103.57 110 ,1 03 . 57Bank & Statutory Reporting (R003) 11.2 40.5 22.3 20.7 19.2 12.6 126.5 418.29 52,913.50 52 ,9 13 . 50Creditors (Mandatory) (R009) 9.0 1.0 3.5 0.4 3.8 43.2 60.9 276.81 16,857.50 16 ,8 57 . 50Employee Matters (R012) 1.7 1.7 40.3 1.0 17.3 0.4 62.4 354.34 22,111.00 22 ,1 11 . 00Immediate Tasks (R002) 13.1 17.5 42.3 73.6 206.3 94.6 447.4 341.43 152,755.00 152 ,7 55 . 00Job Acceptance & Strategy (M) (R001) 1.3 11.2 - 3.0 - 0.3 15.8 458.07 7,237.50 7 ,2 37 . 50Legal Issues (R019) 2.2 - 0.2 0.3 1.0 28.7 32.4 220.82 7,154.50 7 ,1 54 . 50

Other Assets (Mandatory) (R006) 0.5 - 0.1 4.5 - 5.8 10.9 286.70 3,125.00 3 ,1 25 . 00

Other Matters (R018) 8.0 2.0 16.7 18.3 31.5 12.5 89.0 370.46 32,971.00 32 ,9 71 . 00Property (R004) 17.0 36.4 245.8 24.8 226.9 231.6 782.5 285.50 223,401.50 223 ,4 01 . 50Retention of Title (R008) 0.5 0.7 4.5 4.0 - - 9.7 417.68 4,051.50 4 ,0 51 . 50Statutory Duties (R016) 4.3 5.3 - 14.1 23.3 40.6 87.6 282.56 24,752.00 24 ,7 52 . 00Trading (Mandatory) (R007) 11.8 26.1 53.7 113.7 62.7 300.5 568.5 287.36 163,366.50 163 ,3 66 . 50VAT & Taxation (R017) 0.3 18.8 94.7 30.5 40.0 28.3 212.6 578.08 122,900.14 122 ,9 00 . 14Debtors (R005) - - - 1.5 7.0 114.8 123.3 196.41 24,217.50 24 ,2 17 . 50Investigation/CDDA (Mandatory) (R011) - - - 0.7 3.5 - 4.2 312.50 1,312.50 1 ,3 12 . 50Sale of Business and Assets (0001) 120.0 48.0 90.5 56.7 41.5 2.0 358.7 551.55 197,839.47 197 ,8 39 . 47Public Relations Issues (R014) 0.8 - - - - - 0.8 545.00 436.00 4 36 . 00Out of scope (R020) 0.5 - - - - - 0.5 770.00 385.00 3 85 . 00Environmental Issues (R015) - - - - - 1.4 1.4 135.00 189.00 1 89 . 00

G r a nd T o t a l 2 03 . 2 209 .2 61 6 . 3 4 26 . 8 769 . 5 1 , 19 3 . 8 3 ,4 18 . 8 7 , 348 .41 1 ,1 68 , 07 9 .6 8 1 , 168 ,0 79 . 68Av e r ag e h our ly r a t e ( £ ) 75 2 . 14 5 07 . 50 501 .0 6 41 1 . 01 2 72 . 44 180 . 27 T ime c os t s f o r t he pe r iod ( £ ) 152 ,83 4 . 50 10 6 ,1 70 . 00 3 08 , 805 .5 0 175 , 41 7 .5 0 209 ,6 41 . 75 21 5 , 210 .43 T ime c os t s f o r t he Admin is t r a t ion t o da t e ( £ ) 152 ,83 4 . 50 10 6 ,1 70 . 00 3 08 , 805 .5 0 175 , 41 7 .5 0 209 ,6 41 . 75 21 5 , 210 .43

Lum in ar Liquid L td Dis burs em ent s (27 Oc t ober 20 11 - 2 5 J anuary 2 013)

C at ego r y 1 Ex p ens es N a t u r e o f ex p ens e Amou n t - £ Ba s is o f c h a r g eAccomodation 6,998.41 Mileage - managers car 899.11 16p per mileAdministration expenses 229.16 Mileage - own car 1,329.50 45p per mileCell phone expenses 41.34 2 , 22 8 . 61 Meals 2,321.03 Off ice Supplies 47.92 Transport 5,143.56 Willis 420.00

15,201.42

H our s

ADM09F03 (2010)

Appendix 3

Luminar Oceana Limited (in Administration)

Summary of Joint Administrators’ Time-Costs and Category 2 Disbursements from 27 October 2011 to 25 January 2013 Lum in ar Oc ean a Lt d S IP 9 (2 7 Oc t ober 2 011 - 25 J anua ry 2013)

Ac t iv it y Pa r t ne r / E x ec u tiv e

D ir ec t o r D ir ec to r As s is ta n t D ir e c t o r M ana ger Ex ec u t iv e Ana ly s t T o ta l s u m o f hou r s A v er age h our ly r a t e ( £ )T ime c os t s fo r pe r io d

( £ )

T ime c os ts f o r t he Admins t r a t ion t o da t e

( £ ) Accounting and Administration (R013) 7.3 5.3 2.2 60.6 95.7 292.4 463.5 265.75 123,173.60 123 ,1 73 . 60Bank & Statutory Reporting (R003) 12.2 41.6 23.3 20.1 19.3 7.1 123.6 434.10 53,654.50 53 ,6 54 . 50Creditors (Mandatory) (R009) 4.5 1.0 3.5 0.4 9.9 45.5 64.8 243.33 15,767.50 15 ,7 67 . 50Employee Matters (R012) 3.1 2.2 35.3 - 15.7 0.6 56.9 366.09 20,830.50 20 ,8 30 . 50Immediate Tasks (R002) 4.9 2.5 18.5 36.2 82.7 80.8 225.6 296.20 66,822.50 66 ,8 22 . 50Job Acceptance & Strategy (M) (R001) 1.2 9.2 - 3.0 - 0.3 13.7 457.70 6,270.50 6 ,2 70 . 50Legal Issues (R019) 3.3 - 5.7 28.3 1.0 28.8 67.1 342.68 22,994.00 22 ,9 94 . 00

Other Assets (Mandatory) (R006) 0.5 - 3.4 4.5 - 6.2 14.6 309.04 4,512.00 4 ,5 12 . 00

Other Matters (R018) 8.0 1.0 0.2 2.8 2.0 3.0 17.0 516.82 8,786.00 8 ,7 86 . 00

Property (R004) 18.9 87.1 319.6 33.3 239.4 231.0 929.3 305.47 283,875.50 283 ,8 75 . 50

Retention of Title (R008) 0.5 0.7 4.5 4.0 - - 9.7 417.68 4,051.50 4 ,0 51 . 50

Statutory Duties (R016) 3.9 4.8 - 14.0 23.3 46.2 92.2 278.39 25,667.50 25 ,6 67 . 50

Trading (Mandatory) (R007) 51.1 21.6 105.7 110.7 61.2 304.8 655.1 310.80 203,604.50 203 ,6 04 . 50VAT & Taxation (R017) 0.5 22.2 57.1 31.7 28.2 28.3 168.0 548.90 92,215.64 92 ,2 15 . 64Debtors (R005) 0.2 - - 1.5 7.0 49.9 58.6 206.49 12,100.50 12 ,1 00 . 50Investigation/CDDA (Mandatory) (R011) - - - 0.8 3.6 - 4.4 314.09 1,382.00 1 ,3 82 . 00Sale of Business and Assets (0001) 90.3 46.8 88.5 58.7 39.0 - 323.3 513.00 165,853.50 165 ,8 53 . 50Environmental Issues (R015) - - - - - 1.4 1.4 135.00 189.00 1 89 . 00

G r a nd T o t a l 2 10 . 4 246 .0 66 7 . 5 4 10 . 6 628 . 0 1 , 12 6 . 3 3 ,2 88 . 8 6 , 261 .54 1 ,1 11 , 75 0 .7 4 1 , 111 ,7 50 . 74Av e r ag e h our ly r a t e ( £ ) 6 85 . 77 488 . 93 458 .3 7 41 5 . 30 2 69 . 92 178 .6 3 T ime c os t s f o r t he pe r iod ( £ ) 144 ,28 6 . 00 12 0 ,2 78 . 00 3 05 , 965 .0 0 170 , 52 2 . 50 169 ,5 09 . 58 20 1 , 189 .66 T ime c os t s f o r t he Admin is t r a t ion t o da t e ( £ ) 144 ,28 6 . 00 12 0 ,2 78 . 00 3 05 , 965 .0 0 170 , 52 2 . 50 169 ,5 09 . 58 20 1 , 189 .66

Lum in ar Oc ean a Lt d Dis burs em ent s (27 Oc to ber 201 1 - 2 5 J a nuary 2 013)

C at ego r y 1 Ex p ens es N a t u r e o f ex p ens e Amou n t - £ Ba s is o f c h a r g eAccomodation 5,172.88 Mileage - managers car 876.45 16p per mileAdministration expenses 445.22 Mileage - own car 102.60 45p per mileCell phone expenses 50.18 97 9 . 05 Meals 1,989.70 Off ice Supplies 7,806.67 Transport 3,676.28 Willis 420.00

19,560.93

H our s

ADM09F03 (2010)

Appendix 4

The Consolidated Group (all in Administration)

Office Holders’ Charging Policy for Fees The Administrators have engaged managers and other staff to work on the Administrations. The work required is delegated to the most appropriate level of staff taking account of the nature of the work and the individual’s experience. Additional assistance is provided by accounting and treasury executives dealing with the company’s bank accounts and statutory compliance diaries. Work carried out by all staff is subject to the overall supervision of the Administrators.

All time spent by staff working directly on case-related matters is charged to a time code established for the case. Each member of staff has a specific hourly rate, which is subject to change over time. The average hourly rate for each category of staff over the period is shown in Appendix 2, and the current hourly rates used as shown below. The current hourly rates may be higher than the average rates, if hourly rates have increased over the period covered by this report.

Hourly Rate (£) Restructuring M&A Transaction Tax Grade London Regional London Regional London Regional Partner 810 570 810 570 1090 - Exec Director 775 545 - - - - Director 660-735 465 660 465 915 - Assistant Director 565-610 410 565 410 850-915 795 Senior Executive 420 320 420 320 670 - Executive 310 230-250 310 230 475 - Analyst 200-280 130-185 200-280 130-185 - - Cashier 225 115 - - - - Trainee 167 - - - 250 -

Office Holders’ Charging Policy for Disbursements Statement of Insolvency Practice No. 9 (“SIP 9”) published by R3 (The Association of Business Recovery Professionals) divides disbursements into two categories.

Category 1 disbursements comprise payments made by the office holders’ firm, which comprise specific expenditure relating to the administration of the insolvents’ affairs and referable to payment to an independent third party. These disbursements can be paid from the insolvents’ assets without approval from the Committee. In line with SIP 9, it is our policy to disclose such disbursements drawn but not to seek approval for their payment.

Category 2 disbursements are charges made by the office holder’s firm that include elements of shared or overhead costs. Statement of Insolvency Practice No. 9 provides that such disbursements are subject to approval as if they were remuneration. It is our policy, in line with the Statement, to seek approval for Category 2 disbursements before they are drawn.

ADM09F03 (2010)

Appendix 5 Creditors’ request for further information regarding an administrators’ remuneration or expenses – Rule 2.48A, Insolvency Rules 1986

1) If-

(a) within 21 days of receipt of a progress report under Rule 2.47-

(i) a secured creditor, or

(ii) an non-preferential creditor with the concurrence of at least 5% in value of the non-preferential creditors (including the creditor in question), or

(b) with the permission of the court upon an application made within that period of 21 days, any non-preferential creditor,

makes a request in writing to the administrator for further information about remuneration or expenses (other than pre-administration costs) set out in a statement required by Rule 2.47(1)(db) or (dc), the administrator must, within 14 days of receipt of the request, comply with paragraph (2).

(2) The administrator complies with this paragraph by either-

(a) providing all of the information asked for, or

(b) so far as the administrator considers that-

(i) the time or cost of preparation of the information would be excessive, or

(ii) disclosure of the information would be prejudicial to the conduct of the administration or might reasonably be expected to lead to violence against any person, or

(iii) the administrator is subject to an obligation of confidentiality in respect of the information,

giving reasons for not providing all of the information.

(3) Any creditor, who need not be the same as the creditor who requested further information under paragraph (1), may apply to the court within 21 days of-

(a) the giving by the administrator of reasons for not providing all of the information asked for, or

(b) the expiry of the 14 days provided for in paragraph (1),

and the court may make such order as it thinks just.

(4) Without prejudice to the generality of paragraph (3), the order of the court under that paragraph may extend the period of 8 weeks provided for in Rule 2.109(1B) by such further period as the court thinks just.”.

Creditors’ claim that remuneration is excessive – extract from Rule 2.109 of the Insolvency Rules 1986

“(1) Any secured creditor, or any non-preferential creditor with either the concurrence of at least 10% in value of the non-preferential creditors (including that creditor) or the permission of the court, may apply to the court for one or more of the orders in paragraph (4).

(1A) Application may be made on the grounds that—

(a) the remuneration charged by the administrator,

(b) the basis fixed for the administrator’s remuneration under Rule 2.106, or

(c) expenses incurred by the administrator,

is or are, in all the circumstances, excessive or, in the case of an application under sub-paragraph (b), inappropriate.

(1B) The application must, subject to any order of the court under Rule 2.48A(4), be made no later than 8 weeks after receipt by the applicant of the progress report which first reports the charging of the remuneration or the incurring of the expenses in question (“the relevant report”).”

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