MIRA INFORM REPORT

Report Date :

29.07.2008

IDENTIFICATION DETAILS

Name :	CONVERTEAM LTD
Registered Office :	Boughton Rd Rugby Warwickshire CV21 1BU
Country :	United Kingdom
Financials (as on) :	31.12.2006
Date of Incorporation :	23.08.1989
Com. Reg. No.:	02416188
Legal Form :	Private Limited Liability Company (GB)
Line of Business :	Electrical or Electronic Engineering Services

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

Company Identification Details

Subject Reported on	CONVERTEAM LTD
Holding Company	Converteam UK Ltd
Ultimate Holding Company	BARCLAYS PLC
Trading Address	BOUGHTON RD,RUGBY,CV21 1BU
Telephone	01788-563563

	There is a high degree of confidence this company will prove good for the assigned Credit Limit
Credit Limit	Parent Company Guarantee
Contract Limit	Buying from this company? The Contract Limit is the recommended aggregate annual value for supply contracts.

Official Company Data

Legal Form	Private Limited Liability Company (GB)
Registration Number	02416188
Date of Incorporation	23/08/1989
Registered Office	BOUGHTON RD RUGBY WARWICKSHIRE CV21 1BU
Date of Last Annual Return to Registry	21/09/2007
Activities	Electrical or electronic engineering services
Accounts	The last filed accounts cover the period to 31/12/2007 and were filed on 16/05/2008 with Companies House. Please note that the transition, analysis and publication of these accounts may take up to 10 days to appear on this report.

Recently Filed Documents

Details of the most recent documents

Date Received	Description
21/09/2007	Annual Return
31/12/2007	Financial Statement / Set of Accounts

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

Known Directors

DIRECTOR	PIERRE  BASTID
Occupation	SENIOR VICE PRESIDENT
Address	35,  RUE DU DOCTEUR SIFFRE 77930 SIFFRE , FRANCE ,
Country of Origin	FRENCH
Date of Birth	20/12/1954
Appointment Date	31/03/2004
Other Appointments	CONVERTEAM LTD, CONVERTEAM UK LTD
DIRECTOR	PETER FRYER WHITWORTH
Occupation
Address	APRIL COTTAGE ,  HOCKLEY LANE ETTINGTON , STRATFORD UPON AVON , WARWICKSHIRE , CV37 7SS
Date of Birth	31/12/1955
Appointment Date	29/06/2004
Other Appointments	CEGELEC OVERSEAS LTD., CONVERTEAM LTD, CONVERTEAM TECHNOLOGY LTD
DIRECTOR	PROSANTO KUMAR DAS GUPTA
Occupation	MANAGING DIRECTOR
Address	THE FARMHOUSE ,  COSFORD GRANGE COSFORD , RUGBY , WARWICKSHIRE , CV21 1HT
Country of Origin	FRENCH
Date of Birth	18/08/1951
Appointment Date	29/06/2004
Other Appointments	CEGELEC PENSION TRUST LIMITED, CONVERTEAM LTD
DIRECTOR	IAN ROBERT SHARP
Occupation	F D
Address	20,  ST ANDREWS CLOSE BURTON ON THE WOLDS , LOUGHBOROUGH , LEICS , LE12 5TJ
Date of Birth	04/12/1956
Appointment Date	21/10/2004
Other Appointments	CONVERTEAM LTD
DIRECTOR	STEVEN JAMES RAYNOR
Occupation	DIRECTOR
Address	MOXONS LODGE ,  REPTON ROAD HARTSHORNE , SWADLINCOTE , DERBYSHIRE , DE11 7AD
Country of Origin	BRITISH
Date of Birth	06/11/1960
Appointment Date	07/04/2005
Other Appointments	CONVERTEAM LTD, DRIVES & CONTROLS SERVICES LTD
DIRECTOR	FLORENT  BATTISTELLA
Occupation	OPERATIONS DIRECTOR
Address	160,  CHEMIN DU COQUILLAT LEOGNAN , FRANCE ,
Country of Origin	FRENCH
Date of Birth	16/12/1960
Appointment Date	10/11/2005
Other Appointments	CONVERTEAM LTD, CONVERTEAM UK LTD, DRIVES & CONTROLS SERVICES LTD
DIRECTOR	THIERRY EMILE MARIE PERENNEC
Occupation	FINANCE DIRECTOR
Address	12,  AVE ROBERT FLEURY VIROFLAY , FRANCE ,
Country of Origin	FRENCH
Date of Birth	02/04/1964
Appointment Date	10/11/2005
Other Appointments	CONVERTEAM LTD, CONVERTEAM UK LTD, DRIVES & CONTROLS SERVICES LTD
SECRETARY	MR  IAN SHARPE
Address	20 ST ANDREWS CLOSE,  BURTON ON THE WOLDS , LOUGHBOROUGH , LEICESTERSHIRE , LE12 5TJ
Country of Origin	BRITISH
Date of Birth	04/12/1956
Appointment Date	21/04/2006

Recently Resigned Directors (last 3)

DIRECTOR	OLIVIER  FULCONIS
Occupation	DIRECTOR
Address	20 , RUE DE L'EST , FRANCE , - -
Country of Origin	FRENCH
Date of Birth	24/03/1960
Resignation Date	19/07/2007
DIRECTOR	STEPHEN CLARKE BAKER
Occupation	DIRECTOR
Address	APRIL HOUSE , WASHPIT LANE , NUNEATON , WARWICKSHIRE , - -
Country of Origin	BRITISH
Date of Birth	06/12/1954
Resignation Date	21/11/2005
DIRECTOR	MARTIN  MURPHY
Occupation	BUSINESS VICE PRESIDENT
Address	CRABTREE COTTAGE , LEAMINGTON ROAD , SOUTHAM , WARWICKSHIRE , - -
Country of Origin	BRITISH
Date of Birth	12/04/1958
Resignation Date	31/08/2004

Share Summary

Share Currency:	GBP
Principal Shareholders:	Type Of Share	No. of Shares	Value	Voting %age
Converteam UK Ltd	ORD	2	2.00	100.00

Mortgages and Charges

Total Registered	1
Total Outstanding	0
Total Satisfied	1
Most Recent Mortgage	14/10/2004

Date Registered	30/10/2004
Type	395
Date Created	14/10/2004
Lender	LLOYDS TSB BANK PLC
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY ANDOR ALL OR ANY OF THE OTHER COMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details	ANY SUM STANDING TO THE CREDIT OF ANY ONE OR MORE OF ANY PRESENT OR FUTURE ACCOUNTS OF THE COMPANIES OR ANY OF THEM WITH THE BANK (INCLUDING ANY ACCOUNTS HELD IN THE BANK'S NAME WITH ANY DESIGNATION WHICH INCLUDES THE NAME(S) OF THE COMPANIES OR ANY OF THEM) WHETHER SUCH ACCOUNTS BE DENOMINATED IN STERLING OR IN A CURRENCY OR CURRENCIES OTHER THAN STERLING
Satisfied?	Fully

Public Record Information

Summary of CCJ's/Scottish Decrees

There are no unsatisfied CCJs against the company.

Operations

Activities	Electrical or electronic engineering services
Sic Code	Description
7420	Architectural and engineering activities and related technical consultancy
Staff Employed	700
Bankers	Lloyds TSB Bank Plc
Sort Codes	300002

Financial Data

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	31/12/2006	31/12/2005	31/03/2005	31/03/2004
Currency	GBP	GBP	GBP	GBP
Units	units	units	000	units
Consolidated?	No	No	No	No
RETAINED PROFITS	-	-	0	0

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	31/12/2006	31/12/2005	31/03/2005	31/03/2004
Currency	GBP	GBP	GBP	GBP
Units	units	units	000	units
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	0	0	0	0
TOTAL CURRENT ASSETS	2	2	0	2
own shares	2	2	-	-
TOTAL ASSETS	2	2	0	2
TOTAL CURRENT LIABILITIES	0	0	0	0
WORKING CAPITAL	0	0	0	0
TOTAL LONG TERM LIABS	0	0	0	0
NET ASSETS/(LIABILITIES)	0	0	0	0
SHARE CAPITAL + RESERVES	2	2	0	2
Issued Share Capital	2	2	-	2
Profit and Loss account	0	0	0	0
SHAREHOLDERS FUNDS	2	2	0	2
CAPITAL EMPLOYED	2	2	0	2
TANGIBLE NET WORTH	2	2	0	2

Key Credit Ratios

Accounts Date	31/12/2006	31/12/2005	31/03/2005	31/03/2004
Current Ratio	-	-	-	-
Profit Before Tax	-	-	0.00	0.00
Quick Ratio	-	-	-	-
T.N.W/Total Assets	1.00	1.00	-	1.00
Return on Capital	-	-	-	0.00
Stock Turnover	-	-	-	0.00

Financial Summary

Tangible Net Worth	Net worth increased by during the period and now stands at GBP  2,units
Long Term Liabilities	Long term liabilities are now 0% of total assets compared with 0% in the previous period

Previous Searches on this Company

Last 3 Months	Last 6 Months	Last 12 Months
4	6	13

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.42.47
UK Pound	1	Rs.84.00
Euro	1	Rs.66.14

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions