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Update to Participants and Loan Note Holders and Other Creditors of FPP & FPA

Update 27 July 2018

Glossary

Foundations Program plc - in liquidation ("FPP")
FPA Limited - in liquidation ("FPA")
Joint Liquidators and Joint Official Receivers ("JL&JORs")
FPP & FPA (together "Foundations")

Update to Participants and Loan Note Holders and Other Creditors of FPP & FPA

Since the interim distribution in summer 2017, the JL&JORs have paid the majority of interim dividends and the liquidation continues to deal with a number of claimants in order to complete this distribution. This is an ongoing matter and a normal consequence of the liquidation process.

The JL&JORs have had a number of legal matters to attend to. These include certain matters in respect of the period leading up to liquidation and defence of a legal claim that has included Foundations made in another jurisdiction. These matters are confidential and the JL&JORs are unable to comment further at this time.

There is no immediate update in respect of a final outcome of the liquidation. They will update creditors and stakeholders as soon as this position changes.

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