MIRA INFORM REPORT

Report Date :

05.10.2011

IDENTIFICATION DETAILS

Name :	MERIDIAN AGROCHEMICAL COMPANY (PTY) LTD
Registered Office :	27 Ronbex Road P O Box 436 Modderfontein 1645
Country :	South Africa
Date of Incorporation :	05.06.2000
Com. Reg. No.:	2000/010819/07
Legal Form :	Private Company
Line of Business :	Manufacture of pesticides and other agro-chemical products

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
South Africa	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Assessment

Contact was made with the Accountant, who declined to assist with information telephonically and requested that a questionnaire be emailed.

This was duly done.

To date no reply has been forthcoming and as soon as the relevant information is obtained, same will be forwarded.

Please see attached available information on MERIDIAN AGROCHEMICAL COMPANY (PTY) LTD.

Due to the lack of detailed information on the subject, we are not in a position to recommend credit dealings to an extent of US$1 500 000.

Company Information

Registered Name	MERIDIAN AGROCHEMICAL COMPANY (PTY) LTD
Trading as	Meridian Agritech
Registration Number	2000/010819/07
Registration Date	2000-06-05
History of Business	The subject was commenced by MIKE DAWSON in 2000.
Age of Company	11 years 4 months
Status	Active
Operations Assessment	The development and distribution of crop protection chemicals such as fungicides, insecticides, herbicides etc
Area of Distribution	South Africa
Major Industry Code / SICC	33510 MANUFACTURING
Definition of Code	Manufacture of pesticides and other agro-chemical products
Head Office Physical Address	27 Ronbex Road
Head Office Postal Address	P O Box 436 MODDERFONTEIN 1645
Current Tel Number Cell number	011 822 8509
Current Fax Number	011 822 3494 086 719 7927
Current Email Address	mike@agritech.co.za

Auditors Information

Company Registered Name	JD HILL AND COMPANY
Postal Address	P O Box 492 BENONI 1500

Previous Auditors

Company Name/ Tel	Time With Previous Auditors
No information on record

Tax Information

Vat Number	4120189206
Status	Active
Vat Liable Date	2000-06-05
Tax Number	9451059142
Financial Year End	June

Black Economic Empowerment

Status
Score
Expire Date
BEE Certificate Available	Yes/No

ISO Status

Type of ISO Grade
ISO Certificate
ISO Certificate Available	Yes/No
Certified by anAccredited Agent	Yes/No

Workman’s compensation

Registered	Yes/No
Compliance Certified	Yes/No

Adverse Information on Subject

Judgements	No information on record
Possible Judgements	No information on record
Civil Court	No information on record
RDs	No information on record

Default Data

Date	Details
No information on record

Notarial Bonds

Date	Details
No information on record

Deeds Information

Property Interest
Property Type:	No information on record	Stand Number:
Street Number:		Street Name:
Municipal Suburb:		Municipal City:
Township Name:		Province:
Deeds Office:		Transfer ID:
Title Deed Number:		Purchase Date:
Transfer Date:		Erf Size:
Sold Price:

Bank Information

Bank	STANDARD BANK

Bank CodesHistory

Date requested	Bank Code	Enquiry Amount	Number of RD’s	RD amount	RD Date	Bank Comments
No information on record

Previous Bank Accounts

Banker	Branch Code	Account Holder	Account number	Date opened	Years with bank
No information on record

Principals

Number of Principals	1
Average Age of Active Principals	37

Active Principals

Principal 1 of 1

Surname	DAWSON
First Names	MICHAEL
Marital Status
ID Number	7402285013083
Verified ID Number	Yes
Current Age	37
Designation	Scientist / director
Status	Active
Appointment Date	2000-06-05
Address (at time of Appointment)	48 Beverley Avenue Highway Gardens EDENVALE 1609

Adverse Information on Principal

Judgement

Number of Judgements

No information on record

Debt Review

Debt review

No information on record

Other

Default data

No information on record

Business Information on Principal

Current Business Interests

Company Name	Registration No	Status	Judgements	Liquidation
LOQUAT INVESTMENTS 433 CC	2000/002380/23	Deregistration process	0	No
PLANT SCIENCE CONSULTANTS ASSOCIATION	2005/002073/08	In business	0	No
USUTU RIVER PROPERTIES CC	2007/178224/23	In business	0	No
AGRITECH BIOSCIENCE (PTY) LTD	2008/004392/07	In business	0	No
SNYNOVATECH (PTY) LTD	2009/006105/07	In business	0	No

Previous Business Interests

Average Age of Previous Business Interests

27 years 3 months

Company Name	Registration No	Status	Judgements	Liquidation
GLENZEL PROPERTIES CC	1995/029384/23	In business	0	No
PARAGON TURF AND ORNAMENTAL CC	2000/059436/23	Deregistration process	0	No

Deeds Information

Property Interests of Principle

Property Interest
Title Deed No.	T26748/2005	Erf/Site No.
Deeds Office	JOHANNESBURG	Physical Address	48 Beverley Highway Gardens GERMISTON
Property Type	Freehold / Ervin	Extent / Size	1099.0sqm
Purchase Date	2005-01-25	Purchase price	R870,000.00
% Ownership		Bond Holder	Investec Bank Ltd
Bond Number	B350912005	Bond Amount	R870,000.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.22
UK Pound	1	Rs.76.07
Euro	1	Rs.65.06

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	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
--	NB	New Business	--

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.