/;i/ - pwc. Robert Hebenton Joint Liquidator Licensed in the United Kingdom by the Institute of Chartered Accountants in England and Wales

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1 pwc To members and all known creditors 28 September 2015 Our ref: HR/LN/2015o98/RJJones/CVLO33 Dear Sir/Madam R. J. Jones Haulage Limited In Liquidation ( the Company ) Please find enclosed the liquidators second progress report to members and all known creditors in the above liquidation. if you have any queries in connection with the report, please contact Hugh Rothwell on or hglij.rothwelkw uk.pwc. corn. Yours faithfully /;i/ Robert Hebenton Joint Liquidator Licensed in the United Kingdom by the Institute of Chartered Accountants in England and Wales Enclosure: Liquidators second progress report The Joint Liquidators are Data Controllers ofpersonal data as defined by the Data Protection Act PricewaterhouseCoopers LLP wilt act as Data Processor on their instructions. Personal data will be kept secure and processed onlyfor matters retating to the liquidation. PricewaterhouseCoopers LLP, Benson House, Wellington Street, Leeds, IS1 4JP T: +44(0) , F: +44(0) o, Pricewatehoutacoope.s LIP is a yabikty pa,tnershap regittered in Eegbnd with registered nombe, 0C The registered office o PncewateahouseCoopen ILP is 1 Embankment Place Loisdon WC2N 6RH. Pncewaterfioutetocpers LIP is anthonted and,ngr.dated by the Financial Condct dotho.ity für designated omeotment business 1uted

2 Rule 4.49C Form 4.6$ Liquidators Progress Report Pursuant to Sections 92A, 104A and 192 of the Insolvency Act 1986 S.192 To the Registrar of Companies Company Number 03368Oofl (a) Insert fuil name of company [) R. J. Jones Haulage Limited Name of Company (b) Insert full name(s) and address(es) We (b) Robert J Hebenton and David J Kelly of PricewaterhouseCoopers LLP, PricewaterhouseCoopers LLP, 101 Barbirolli Square, Lower Mosley Street, Manchester, M2 3PW the liquidators of the company attach a copy of our Progress Report under section 192 of the Insolvency Act The Progress Report covets the period from 1 August 2014 to3l July2015. Signed / / Date Presenters name, address and reference (if any)

3 Private & Confidential pwc Second progress report to members & creditors28 September 2015 Company R. J. Jones Haulage Limited in liquidation Registered Number 0336$OO1 Registered address Benson House 33 Wellington Street Leeds ISr 4JP Type of Insolvency Creditors Voluntary Liquidation Date of Appointment 1 August 2013 Appointees Robert James Hebenlon and David James Kelly Address PricewaterhouseCoopers LLP Benson House 33 Wellington Street Leeds ISr 4JP Dividend Prospects Current estimate Previous estimate in the administration pine pine Preferential Unsecured (i5p in the paid) Please note that the guidance on dividend prospects is indicative only. It should not be used as the sate or principal basis ofany bad debt provision decision.

4 R. J. Jones Haulage Limited hi liquidation ( the Company ) Report to Members & Creditors In accordance with Rule 4.49C of the Insolvency Rules 1986 ( 1R86 ), this is the Liquidators second progress report to members and all known creditors. Attached at Appendix A is a summary of the financial information relating to the Liquidation. Background information and updates regarding the Company s assets have been provided to creditors in previous reports in the preceding administration. This information has not been repeated here for the purpose of this report. Appointment of Administrators On 5 March 2013, Robert Hebenton and David Kelly of PricewaterhouseCoopers LLP were appointed Joint Administrators of the Company. The Administration was concluded on date the Company moved into Creditors Voluntary Liquidation. 1 August 2013, being the Asset Realisations The Company s assets have been realised as follows: Actual realisations Assets Surplus from the Administration 565, Preappointment VAT 16,125.3$ Book debt 16, Dividend received 7, Interest 1, Total 606,93r.$8 The only receipts in this period relate to interest of 209. Outcome for Creditors Secured creditors At the date of administration, NatWest had recovered its lending in full (in respect of its unauthorised overdraft) following careful management of cash flow, including the release of business critical payments. Royal Bank of Scotland Invoice Finance ( RBSIF ) was owed 1.29 million under its invoice discounting agreement. RBSIf were repaid in full from the book debt collections during the Administration. Preferential creditors Preferential claims relate to arrears of wages, subject to statutory limits, and unpaid holiday pay. The successful transfer of the business included the transfer of employment of all 133 employees to the purchaser of the business. Therefore, the Transfer of Undertakings (Protection of Employment) Regulation applies. Only one residual preferential claim was received totalling and a distribution of ;oop in the was declared on i8 September 2014.

5 Unsecured creditors The Prescribed Part is a fund that has to be ringfenced for unsecured creditors when there are charges created and registered at Companies House following the Prescribed Part order coming into force on 15 September The Prescribed Part applies to the Company due to the date of RBSIF s security. However, as the secured creditor was paid in full, the Prescribed Part provision will not be necessary and all surplus funds are available to the Company s unsecured creditors. The Liquidators declared an interim dividend of 15 in the on 17 September This was an interim dividend due to the ongoing adjudication of some high value claims. The adjudication of the high value claims has now been resolved and the additional work undertaken has reduced total claims from 2,798,830 to 2,584,557 which means a further distribution is now payable. The Liquidators have provided a final notice of intended dividend with the final date for proving being set at 26 October The Liquidators anticipate a dividend of L75p in the, dependent on final claims received. Professional advisers On this assignment the Liquidators have used a number of professional advisers. The Liquidators choice was based upon their perception of the advisers experience and ability to perform this type of work, the complexity and nature of the assignment and the basis of the fee arrangement with them. The Liquidators have reviewed the fees charged and are satisfied that they are reasonable in the circumstances of the case. During the period of this report, no costs were incurred relating to professional advisors. Administrators remuneration The balances of the Administrators outstanding fees and disbursements have been paid from the Liquidation and are shown in Appendix A. Uquidators remuneration You may recall that during the Administration, in accordance with resolutions passed by correspondence, the former Administrators fees were fixed under Rule R86 by reference to time properly given by the Administrators and their staff in attending to matters arising. In accordance with Rule R86, the remuneration basis agreed in the Administration will continue in the Liquidation. To 31 July 2015, the Liquidators have incurred time Costs of 77, This represents hours at an average hourly rate of 205. A total of 6o,ooo has been drawn to date. It has been the Joint Liquidators policy to delegate the routine administration of the Liquidation to junior staff in order to maximise the cost effectiveness of the work performed. These staff have been supervised by senior staff and the Liquidators. Any matter of particular complexity or significance that has required responsibility of an exceptional kind has also been dealt with by senior staff and the Jiquidators. Details of the time costs incurred from the Liquidators appointment, to 31 July 2015, by work category, are attached at Appendix C. In common with all professional firms, scale rates increase from time to time over the period of the administration of each insolvency case. PricewaterhouseCoopers LLP, or any successor firm, reserves the right to change the rates and grade structure. Full details of the charge out rates charged to this case from this date are included at Appendix C. Specialist departments within PricewaterhouseCoopers LLP, such as tax, VAT, property and pensions, sometimes charge a small number of hours should the Liquidators require their expert advice. Their rates vary, however, the figures given provide an indication of the maximum rate per hour.

6 this Liquidators disbursements Categoryi disbursements The Liquidators have incurred disbursements of during the period 1 August 2014 to 31 July Nothing has been drawn in this respect. These include payments for postage, couriers, archiving and requesting Companies House information. Category 2 disbursements The Liquidators current disbursements policy, as approved by the creditors, is as follows: Photocopying for circulars or any other bulk copying is charged atp per sheet; Mileage (over 2,000cc). is reimbursed at a maximum of 6w per mile (up to 2,000cc) and 8op per mile All other disbursements are reimbursed at cost. The Liquidators have incurred in respect of photocopying and mileage, during the period iaugust 2014 to 31 July Statement of expenses A statement of expenses incurred and paid by the Liquidators in the period 1 August 2014 to 31 July is included at Appendix B. The statement excludes any potential tax liabilities that may be payable as an expense of the Liquidation in due course because amounts due will depend on the position at the end of the tax accounting period. Creditor s rights An explanatory note giving creditors a statement of their rights in relation to the Uqifidators remuneration and expenses, and their rights to request further information, can be found online at: liquidatorsfeesfinal.pdf A copy may also be obtained free of charge by contacting Hugh Rothwefl on , or hugh.i.rothwelkwuk,nwc.com. Additional information If any creditor requires further explanations on any aspect of the Liquidators progress report, then please telephone or write to Hugh Rothwell who will be pleased to deal with such enquiries, however, any request for further information regarding the Liquidators remuneration or disbursements should be made in writing (Rule 4.49E of the Insolvency Rules 1986 ( 1R86 )). In addition, should any creditor consider the Liquidators remuneration and disbursements to be excessive or inappropriate, they have the right to challenge the amounts in accordance with Rule R86.

7 (6o,000.oo) (319.06) (89,681.06) R. J. Jonc. I Haulage Limited ill liquidation Appendix A Summary offinancial information as at 3a July 2015 Total for the For the period Total from period from from appointment appointment to August 2015 to 31 July July July 2015 Eatimated outcome Floating Charge Realisations Book debts Dividend received Interest Preappointment VAT refund Surplus from the administration Floating Charge Payments Administrators disbursements Administrators fees Bank charges Irrecoverable VAT Legal disbursements Legal fees Liquidators disbursements Liquidatc.ra fees Professional fees Statutory Advertising VAT Control Account 16, , , , , , (2,305.63) (90,71200) (i.oo) 16, , , , , ,93 i.88 (2,305.63) (90,712.00) (15.00) (22.00) (u2oo) (2,750.00) (2,750.00) (132.26) (60,00o.oo) (132.26) (151.19) (96,073.08) (60,015.00) (156,088.08) (593.61) (12,000.00) (12,593.61) 16, , , j , , (2,305,63) (90,712.00) (25.75) (210.87) (22.00) ) (1,313.56) (76,000.00) ( ) (2z.o1) (174,708.43) Distribution to preterentini creditors (loop in the, ) Distribution to unsecured creditors (isp in the 1, ) (319.06) (319.06) (89,681.06) Balance at Bank Estimated balancef funds available for unsecured creditors Current creditor claims received plus provision for additional claims Estimated total distribution to unsecured crediters (p fl tile ) 510, (161,805.73) 348, , , ,584, (15p in the paid)

8 90, , , , R. J. Jones Haulage Limited in liquidation Appendix B Expenses for the period laugust 2014 to 31 July 2015 Estimated Accrued and Expenses Paid Total Estimated Unpaid Expenses Expenses Administrators Fees 90, Administrators Expenses 2, Legal Costs & Disbursements 2, Liquidators Fees 17, o,ooo.oo Uquidators Expenses , Statutory Advertising Professional Fees Bank Charges Total 18, , Please note that this schedule provides an estimate of expenses incurred for the period i August 2014 to 31 July Any balance that remains unpaid as at the date of this report is yet to be finalised and may therefore be subject to adjustments before final payment. 6.77

9 4 xjzdy Appendix C?wc R. J. Jones Haulage Limited hi liquidation Analysis of time costs for the period from 1 August 2014 to 31 July 2015 Average hourly Time cost rate Aspect of assignment Partner Director Manager Manager Associate Assacite Secretarial Total hours Senior Senior I Strategy & Planning , , Assets Creditors , , Accounting and treasury 2, Statutory and compliance , , Tax&VAT Closure procedures 0, , TotaIfortheperiod I , L&oultfoIa.m1at31Ju1y , ITotal L ,773J Current Charge out rates per hour insolvency OJWIe i8oao frumijszsoi specialist 1, , oo.oo ,00 Area of work IWork undertaken includes Strategy & Planning Appointee reviews, team meetings Creditors kdjudicating claims for distribution, distribution to preferential and unsecured creditors Accounting and treasury tremipta and payments, and payment of dividends Statutory and compliance Six month reviews, preparing annual reports Tax & VAT trax returns, VAT deregistration, VAT refunds Closure procedures jprepsdng for closure of the liquidation