Fairline Boats Limited Placed into Administration

BETTER CAPITAL PCC LIMITED 2009 Cell

2 December 2015

Fairline

On 29 September 2015, Better Capital PCC Limited (the "Company") announced the sale by the 2009 Fund of the entire issued share capital of Fairline Boats Limited ("Fairline") to an entity which had agreed to provide further funding into Fairline. 

The Company has today been informed that, following the absence of the expected further funding into Fairline, a vehicle owned by the 2009 Fund has appointed an administrator to Fairline in order to protect the 2009 Fund's interests as a senior creditor. The deferred consideration for the sale of Fairline was valued at £2m in the 30 September 2015 Interim Accounts of the 2009 Cell. The Company will make further disclosures in due course regarding the eventual outcome for the 2009 Fund.

Enquiries:

Better Capital PCC Limited +44 (0) 1481 716 000

Mark Huntley (Administrator and Company Secretary)

Better Capital LLP +44 (0) 20 7440 0840

Simon Pilling (Chief Executive)

Rob Asplin (Managing Director)

Bonnie Kraus (Director of Finance and Investor Relations)

Powerscourt +44 (0) 20 7250 1446

Justin Griffiths

Peter Ogden

Numis Securities +44 (0) 20 7260 1426

Nathan Brown