MIRA INFORM REPORT

Report Date :

25.08.2014

IDENTIFICATION DETAILS

Name :	JEFFERIES BACHE LIMITED

Formerly Known As :	BACHE COMMODITIES LIMITED

Registered Office :	Vintners Place, 68 Upper Thames Street, London, EC4V 3BJ

Country :	United Kingdom

Financials (as on) :	30.11.2013

Date of Incorporation :	17.10.1952

Legal Form :	Private limited with Share Capital

Line of Business :	Global commodities and financial derivatives broker offering clients advice and sales.

No of Employees :	140

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate

Payment Behaviour :	Slow but correct

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 – June 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

United Kingdom

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

UNITED KINGDOM ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of £375 billion (approximately $605 billion) as of December 2013. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Company Name: JEFFERIES BACHE LIMITED

Company No: 00512397

Company Status: Active - Accounts Filed

Registered Address: VINTNERS PLACE

68 UPPER THAMES STREET

LONDON

EC4V 3BJ

Your Login: 101031649

Your User ID: ASHLEIGH

Date / Time: 11:50 Thursday, 14 August 2014

COMPANY SUMMARY

Registered Address	VINTNERS PLACE 68 UPPER THAMES STREET LONDON EC4V 3BJ	Trading Address	Vintners Place 68 Upper Thames Street London EC4V 3BJ
Website Address	http://www.bache.com	Telephone Number	02075484000
Fax Number	--	TPS	No
FPS	No	Incorporate Date	17.10.1952
Previous Name	BACHE COMMODITIES LIMITED	Type	Private limited with Share Capital
FTSE Index	--	Date of Change	01.07.2011
Filing Date of Accounts	11.03.2014	Currency	USD
Share Capital	£63,606,300	SIC07	64999
Charity Number	--	SIC07 Description	FINANCIAL INTERMEDIATION NOT ELSEWHERE CLASSIFIED
Principal Activity	Global commodities and financial derivatives broker offering clients advice and sales. Accounts data converted from US dollar

DIRECTORS/MANAGEMENT

Current Directors

Name	Timothy Gwynne Barker	Date of Birth	08/04/1940
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	01/07/2011
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Marc Richard Bailey	Date of Birth	04/06/1964
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	07/04/2006
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Alan Bertram Gibbins	Date of Birth	16/11/1949
Officers Title	Mr	Nationality	British
Present Appointments	7	Function	Director
Appointment Date	01/06/2010
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Timothy Edward Cronin	Date of Birth	20/10/1954
Officers Title	Mr	Nationality	American
Present Appointments	3	Function	Director
Appointment Date	26/03/2014
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Andrew Shortland	Date of Birth	20/10/1967
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	28/03/2014
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Dominic Lester	Date of Birth	22/09/1969
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	25/03/2014
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	David Walt Weaver	Date of Birth	26/11/1959
Officers Title	Mr	Nationality	American
Present Appointments	11	Function	Director
Appointment Date	01/07/2011
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Huw Martin Tucker	Date of Birth	07/01/1962
Officers Title	Mr	Nationality	British
Present Appointments	14	Function	Director
Appointment Date	01/07/2011
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Walter Patrick Campbell	Date of Birth	09/02/1946
Officers Title	Mr	Nationality	American
Present Appointments	2	Function	Director
Appointment Date	25/03/2014
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Nicola Hardy	Date of Birth	-
Officers Title	Ms	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	01/07/2011
Address	Vintners Place 68 Upper Thames Street, London, EC4V 3BJ

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Scott Philip Harrison	1	1
Graham Andrew Elliott	7	6
Ronald Joseph Ivans	3	5
Duncan Walter Hancock	6	5
Anthony Thomas Dawson	0	1
William Lloyd Custard	0	1
Alexander Jules Weissenborn	0	1
Ian Hugh Arthur Angell	4	13
Geoffrey Gordon Lloyd	13	5
William Arthur Plummer	0	2
Stephen Leigh Massey	29	21
Christopher Bellew	0	4
Erik Sybe Herman De Vries	0	2
Barry Jonathon Gershon	0	1
Roberto Giovanelli	0	2
David Govett	0	1
Barry Jones	0	2
Robert Henry Grotz	0	3
Yasuo Mogi	0	1
Janet M. Krebes	0	2
William John Smit	3	5
William Nigel Henry Jones	28	50
William Nigel Henry Jones	28	50
Alexander Henry Ladouceur	0	2
Ian Pettifor	6	26
Alistair Russell Watson	0	5
Arthur Laurence Norton	0	4
William John Horan	0	3
Pamela Morgan	0	2
Jill Patricia McAleenan	5	12
Cornelius Christopher Perry	0	1
Ian Geoffrey Hassett	1	9
Anne Victoria Mary Warrack	3	44
Anne Victoria Mary Warrack	3	44
Thomas Marshall Lane	0	1
Timothy Philip Woodward	0	4
Peter Allan	3	1
Tamara Branson Wright	1	6
Alan Jeffrey Brody	0	14
Neil Anthony Grover	3	1
Gary Neil Wayne	17	6
Joanne Louise Bagshaw	53	55
Batoolah Dawreeawoo	2	7
Carol Eileen Robbins	1	13
Vasant Gopaldas Dattani	8	7
Howard Richard Carr	0	1
Trevor John Truscott	0	1
Geoffrey Maxwell Holmes	0	2
Julia Louise Reidy	2	1
Jonathan George Fraser Lang	0	3
Timothy Paul Cherrett	0	1
Michael John Coomber	0	1

NEGATIVE INFORMATION

Total Mortgage 16

Outstanding 5

Satisfied 11

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:
Date Charge Created:	26/06/14
Date Charge Registered:	11/07/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	JPMORGAN CHASE BANK, N.A. (THE SECURITY TRUSTEE);
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:
Date Charge Created:	05/03/14
Date Charge Registered:	25/03/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	EUREX CLEARING AKTIENGESELLSCHAFT;
Amount Secured:
Details:	CONTAINS FLOATING CHARGE.

Mortgage Type:	US LAW COMMODITIES ACCOUNT CONTROL AGREEMENT
Date Charge Created:	16/09/11
Date Charge Registered:	04/10/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	JPMORGAN CHASE BANK, N.A.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	ACCOUNT NO. 078910011 MAINTAINED WITH THE COMMODITY INTERMEDIARY AND ALL ACCOUNTS ASSETS CASH OR CURRENCY COMMODITIES CONTRACTS AND DOCUMENTS OF TITLE SEE IMAGE FOR FULL DETAILS

Mortgage Type:	US LAW PLEDGE AND SECURITY AGREEMENT
Date Charge Created:	16/09/11
Date Charge Registered:	27/09/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	JPMORGAN CHASE BANK, N.A.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	ALL RIGHT, TITLE AND INTEREST IN, TO AND UNDER ALL INVENTORY, DEPOSIT ACCOUNTS,DOCUMENTS, COMMODITYACCOUNTS AND COMMODITY ACCOUNTS PROPERTY SEE IMAGE FOR FULL DETAILS

Mortgage Type:	ENGLISH LAW DEBENTURE
Date Charge Created:	16/09/11
Date Charge Registered:	27/09/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	JPMORGAN CHASE BANK, N.A.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO ANY SECURED PARTY UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS

Mortgage Type:	US SECURITY AGREEMENT
Date Charge Created:	01/07/11
Date Charge Registered:	11/07/11
Date Charge Satisfied:	21/09/11
Status:	SATISFIED
Person(s) Entitled:	PRUDENTIAL FINANCIAL, INC
Amount Secured:
Details:	RIGHT, TITLE AND INTEREST IN TO AND UNDER ALL PERSONAL PROPERTY INCLUDING, BUT NOT LIMITED TO THE COLLATERAL SEE IMAGE FOR FULL DETAILS

Mortgage Type:	UK SECURITY AGREEMENT
Date Charge Created:	01/07/11
Date Charge Registered:	11/07/11
Date Charge Satisfied:	21/09/11
Status:	SATISFIED
Person(s) Entitled:	PRUDENTIAL FINANCIAL, INC
Amount Secured:
Details:	BY WAY OF FLOATING CHARGE ITS UNDERTAKING, PROPERTY, ASSETS, RIGHTS AND REVENUES SEE IMAGE FOR FULLDETAILS

Mortgage Type:	A DEED OF CHARGE
Date Charge Created:	28/11/06
Date Charge Registered:	15/12/06
Date Charge Satisfied:	18/03/11
Status:	SATISFIED
Person(s) Entitled:	J P MORGAN CHASE BANK, NATIONAL ASSOCIATION, LONDON BRANCH
Amount Secured:
Details:	BY WAY OF FIRST FIXED LEGAL MORTGAGE ALL CHARGED ASSETSSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	SUPPLEMENTAL TO COLLATERAL AGREEMENT GOVERNING PLEDGES OF ADDITIONAL CASH COLLATERAL BY PARTICIPANTSIN THE EUROCLEAR SYSTEM
Date Charge Created:	17/10/02
Date Charge Registered:	18/10/02
Date Charge Satisfied:	18/03/11
Status:	SATISFIED
Person(s) Entitled:	EUROCLEAR BANK S.A./N.V.
Amount Secured:
Details:	"ADDITIONAL CASH COLLATERAL" WITH ALL RIGHT,TITLE AND INTEREST IN AND TO THE ACCOUNT 42 000 1X 000 YYY 24449 WITH ALL INTEREST THEREONSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	COLLATERAL AGREEMENT GOVERNING SECURED BORROWINGS BY PARTICIPANTS IN THE EUROCLEAR SYSTEM
Date Charge Created:	17/10/02
Date Charge Registered:	18/10/02
Date Charge Satisfied:	18/03/11
Status:	SATISFIED
Person(s) Entitled:	EUROCLEAR BANK S.A./N.V.
Amount Secured:
Details:	ALL CASH AND SECURITIES CLEARANCE ACCOUNTS OPENED IN CONNECTION WITH THE EUROCLEAR SYSTEM ON THE BOOKS OF THE COMPANY

Mortgage Type:	CHARGE ON CASH
Date Charge Created:	22/03/02
Date Charge Registered:	27/03/02
Date Charge Satisfied:	17/03/11
Status:	SATISFIED
Person(s) Entitled:	DANSKE BANK A/S
Amount Secured:
Details:	BY WAY OF FIRST FIXED CHARGE AND WITH FULL TITLE GUARANTEE, THE SUM OF EURO 5,000,000.00 HELD AS CASH COLLATERAL FOR THE GUARANTEE IN ACCOUNT NUMBER 93475508 IN THE NAME OF THE COMPANY WITH THE BANK

Mortgage Type:	MASTER REPURCHASE AGREEMENT
Date Charge Created:	03/04/98
Date Charge Registered:	20/04/98
Date Charge Satisfied:	18/03/11
Status:	SATISFIED
Person(s) Entitled:	DAIWA SECURITIES AMERICA INC.
Amount Secured:
Details:	ALL OF THE PURCHASED SECURITIES WITH RESPECT TO ALL TRANSACTIONS UNDER THE AGREEMENT AND ALL INCOMETHEREON AND OTHER PROCEEDS THEREOF, ANY FORWARD COLLATERAL AND ANY OTHER CASH SECURITIES OR PROPERTYAND ALL PROCEEDS OF ANY OF THE FOREGOING TRANSFERRED BY OR ON BEHALF OF THE SELLER TO THE BUYERSEETHE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	MASTER REPURCHASE AGREEMENT DATED AS OF28TH FEBRUARY AND CREATING A CHARGE
Date Charge Created:	03/04/98
Date Charge Registered:	20/04/98
Date Charge Satisfied:	18/03/11
Status:	SATISFIED
Person(s) Entitled:	DAIWA AMERICA STRATEGIC ADVISORS CORPORATION
Amount Secured:
Details:	ANY FORWARD COLLATERAL AND ANY OTHER CASH SECURITIES OR PROPERTY AND ALL PROCEEDS OF ANY OF THE FOREGOING TRANSFERRED ON BEHALF OF THE SELLER TO THE BUYER UNDER THE AGREEMENTSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	CHARGE IN FAVOUR OF LONDON STOCK EXCHANGE
Date Charge Created:	20/11/96
Date Charge Registered:	21/11/96
Date Charge Satisfied:	13/08/97
Status:	SATISFIED
Person(s) Entitled:	LONDON STOCK EXCHANGE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE CHARGE
Details:	ALL SHARES STOCK AND OTHER SECURITIES OF ANY DESCRIPTION WHICH ARE FOR THE TIMEBEING DESIGNATED BY THE LONDON STOCK EXCHANGE AS TALISMAN SECURITIES SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	CUSTODY AGREEMENT
Date Charge Created:	03/12/91
Date Charge Registered:	09/12/91
Date Charge Satisfied:	18/03/11
Status:	SATISFIED
Person(s) Entitled:	MORGAN GUARANTY TRUST OF NEW YORK
Amount Secured:
Details:	ALL CASH IN THE CASH A/C DESCRIBED IN CLAUSE 5 AND THE APPENDIX B:LOANS OF THE CUSTODY AGREEMENT SEEFORM 395 FOR DETAILS

Mortgage Type:	ASSIGNMENT
Date Charge Created:	24/04/80
Date Charge Registered:	29/04/80
Date Charge Satisfied:	29/04/80
Status:	SATISFIED
Person(s) Entitled:	.A.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER TERMS OFTHE CHARGE & AN AGREEMENT DATED 1.4.80
Details:	ANY & ALL INTERESTS WHICH THE COMPANY MAY NOW HAVE OR MAY HEREAFTER ACQUIRE IN,TO & UNDER THE SILVERSALES CONTRACT COLLATERAL, AS SUCH TERM IS MORE PARTICULARLY DESCRIBED DEFINED IN THE AGREEMENT

Mortgage Type:	ASSIGNMENT
Date Charge Created:	24/04/80
Date Charge Registered:	29/04/80
Date Charge Satisfied:	29/04/80
Status:	SATISFIED
Person(s) Entitled:	L BANK AND TRUST COMPANY OF OKLAHOMA CITY 4) MARINE MIDLAND BANK, N
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER TERMS OFTHE CHARGE & AN AGREEMENT DATED 1.4.80
Details:	ANY & ALL INTERESTS WHICH THE COMPANY MAY NOW HAVE OR MAY HEREAFTER ACQUIRE IN,TO & UNDER THE SILVERSALES CONTRACT COLLATERAL, AS SUCH TERM IS MORE PARTICULARLY DESCRIBED DEFINED IN THE AGREEMENT

Mortgage Type:	ASSIGNMENT
Date Charge Created:	24/04/80
Date Charge Registered:	29/04/80
Date Charge Satisfied:	29/04/80
Status:	SATISFIED
Person(s) Entitled:	TRUST COMPANY 6) THE FIRST NATIONA
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER TERMS OFTHE CHARGE & AN AGREEMENT DATED 1.4.80
Details:	ANY & ALL INTERESTS WHICH THE COMPANY MAY NOW HAVE OR MAY HEREAFTER ACQUIRE IN,TO & UNDER THE SILVERSALES CONTRACT COLLATERAL, AS SUCH TERM IS MORE PARTICULARLY DESCRIBED DEFINED IN THE AGREEMENT

Mortgage Type:	ASSIGNMENT
Date Charge Created:	24/04/80
Date Charge Registered:	29/04/80
Date Charge Satisfied:	29/04/80
Status:	SATISFIED
Person(s) Entitled:	ST NATIONAL BANK OF CHICAGO 5) THE NORTHERN
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER TERMS OFTHE CHARGE & AN AGREEMENT DATED 1.4.80
Details:	ANY & ALL INTERESTS WHICH THE COMPANY MAY NOW HAVE OR MAY HEREAFTER ACQUIRE IN,TO & UNDER THE SILVERSALES CONTRACT COLLATERAL, AS SUCH TERM IS MORE PARTICULARLY DESCRIBED DEFINED IN THE AGREEMENT

Mortgage Type:	ASSIGNMENT
Date Charge Created:	24/04/80
Date Charge Registered:	29/04/80
Date Charge Satisfied:	29/04/80
Status:	SATISFIED
Person(s) Entitled:	2) HARRIS TRUST & SAVINGS BANK 3) IR
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER TERMS OFTHE CHARGE & AN AGREEMENT DATED 1.4.80
Details:	ANY & ALL INTERESTS WHICH THE COMPANY MAY NOW HAVE OR MAY HEREAFTER ACQUIRE IN,TO & UNDER THE SILVERSALES CONTRACT COLLATERAL, AS SUCH TERM IS MORE PARTICULARLY DESCRIBED DEFINED IN THE AGREEMENT

Mortgage Type:	ASSIGNMENT
Date Charge Created:	24/04/80
Date Charge Registered:	29/04/80
Date Charge Satisfied:	29/04/80
Status:	SATISFIED
Person(s) Entitled:	VING TRUST COMPANY 1) THE FIR
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER TERMS OFTHE CHARGE & AN AGREEMENT DATED 1.4.80
Details:	ANY & ALL INTERESTS WHICH THE COMPANY MAY NOW HAVE OR MAY HEREAFTER ACQUIRE IN,TO & UNDER THE SILVERSALES CONTRACT COLLATERAL, AS SUCH TERM IS MORE PARTICULARLY DESCRIBED DEFINED IN THE AGREEMENT

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
JEFFERIES INTERNATIONAL (HOLDINGS) LTD	USD	63,606,300	ORDINARY	1	100

PAYMENT INFORMATION

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Trade Payment Information

Average Invoice Value	n/a
Invoices available	n/a
Paid	n/a
Outstanding	n/a

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

GROUP STRUCTURE & AFFILIATED COMPANIES

Previous Company Names

Date	Previous Name
01/07/2011	BACHE COMMODITIES LIMITED
08/01/2007	BACHE FINANCIAL LIMITED
11/10/2004	PRUDENTIAL-BACHE INTERNATIONAL LIMITED
01/10/1996	PRUDENTIAL-BACHE (FUTURES) LIMITED
07/08/1987	BACHE LONDON LIMITED
01/01/1986	BACHE COMMODITIES LIMITED
03/05/1983	BACHE HALSEY STUART (LONDON) LIMITED
31/12/1976	BACHE & CO.(LONDON)LIMITED

Statistics

Group	11 companies
Linkages	37 companies
Countries	In 1 countries

Summary

Holding Company	JEFFERIES INTERNATIONAL (HOLDINGS) LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	JEFFERIES GROUP, INC

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
JEFFERIES GROUP, INC		-	-	$3,871,205,000
JEFFERIES INTERNATIONA...	03977886	30.11.2013	Y	£419,985,000
JEFFERIES BACHE LIMITED	00512397	30.11.2013	N	£65,705,155
LONGACRE PARTNERS LI...	03902703	30.11.2013	N
JEFFERIES INTERNATIO...	01978621	30.11.2013	N	£339,844,000
JEFFERIES INTERNAT...	03141117	30.11.2013	N
JEFFERIES INTERNAT...	03168635	30.11.2013	N
JEFFERIES SECURITI...	07485599	30.11.2013	N
LEUCADIA LIMITED	08315235	30.11.2013	N
LEUCADIA ASSET MAN...	08660035	-	N
JEFFERIES INVESTME...	08660011	-	N

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	30/11/13	(%)	30/11/12	(%)	30/11/11	(%)	31/12/10	(%)	31/12/09
Weeks	52	(%)	52	(%)	48	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£65,705,155	4.3%	£62,970,757	9.4%	£57,555,408	18.3%	£48,631,948	40.2%	£34,682,534
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	£24,681,942	-1.3%	£25,011,758	0.5%	£24,878,567	9.2%	£22,779,344	-0.3%	£22,852,245
Directors Emoluments	£1,075,068	-2.7%	£1,105,216	-5%	£1,163,238	-40.7%	£1,960,895	-52.1%	£4,097,053
Operating Profit	-£13,029,846	-239.8%	£9,321,073	-55%	£20,696,749	39.3%	£14,859,309	48.3%	£10,020,439
Depreciation	£385,288	-39.8%	£640,338	-14.1%	£745,853	1.7%	£733,221	-18.7%	£901,958
Audit Fees	£208,019	-36.7%	£328,610	-27.5%	£453,218	109.6%	£216,206	-27.1%	£296,697
Interest Payments	£2,803,738	0.9%	£2,777,811	84.6%	£1,504,977	121.7%	£678,699	-67.9%	£2,111,162
Pre Tax Profit	-£11,501,960	-201.4%	£11,338,559	-54.4%	£24,885,866	28.6%	£19,351,382	42.5%	£13,576,844
Taxation	£1,807,055	162.9%	-£2,873,681	59%	-£7,009,290	-26.9%	-£5,522,341	-76.7%	-£3,124,547
Profit After Tax	-£9,694,905	-214.5%	£8,464,878	-52.6%	£17,876,576	29.3%	£13,829,041	32.3%	£10,452,298
Dividends Payable	-	-	-	-100%	£87,276,709	-	-	-	-
Retained Profit	-£9,694,905	-214.5%	£8,464,878	112.2%	-£69,400,133	-601.8%	£13,829,041	32.3%	£10,452,298

Balance Sheet

Date Of Accounts	30/11/13	(%)	30/11/12	(%)	30/11/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£20,284,595	6.8%	£18,996,081	-16.7%	£22,792,303	36.6%	£16,684,841	-12%	£18,952,990
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£20,284,595	6.8%	£18,996,081	-16.7%	£22,792,303	36.6%	£16,684,841	-12%	£18,952,990
Stock	0	-	0	-	0	-	0	-100%	£23,628,272
Trade Debtors	£167,810,672	0.6%	£166,733,796	-55.5%	£375,094,891	-55%	£832,840,760	22%	£682,538,406
Cash	£333,063,009	39.1%	£239,456,738	6.4%	£224,982,084	-48.9%	£440,599,110	38.9%	£317,180,721
Other Debtors	£361,915,586	-12%	£411,272,234	142.2%	£169,828,799	-0.2%	£170,095,883	-9.6%	£188,192,128
Miscellaneous Current Assets	£21,969,249	-57.4%	£51,619,536	49.7%	£34,475,780	60.9%	£21,425,707	-83.2%	£127,753,676
Total Current Assets	£884,758,517	1.8%	£869,082,303	8%	£804,381,553	-45.1%	£1,464,961,459	9.4%	£1,339,293,202
Trade Creditors	£145,975,279	41.9%	£102,891,770	-79.8%	£508,867,286	-56.7%	£1,174,000,125	26.3%	£929,181,117
Bank Loans & Overdrafts	0	-	0	-100%	£1,004,645	-	0	-	0
Other Short Term Finance	£77,856,497	999.9%	£5,351,221	-82.3%	£30,226,277	-61.9%	£79,425,331	-11%	£89,200,897
Miscellaneous Current Liabilities	£490,835,695	3.1%	£476,094,061	999.9%	£21,994,691	0.7%	£21,848,718	-83%	£128,316,081
Total Current Liabilities	£714,667,471	22.3%	£584,337,052	4%	£562,092,900	-55.9%	£1,275,274,174	11.2%	£1,146,698,095
Bank Loans & Overdrafts and LTL	£33,723,847	-67.9%	£105,114,260	243.5%	£30,601,194	112.7%	£14,389,296	-49.1%	£28,254,764
Other Long Term Finance	£15,073,862	-83.3%	£90,447,392	445.2%	£16,589,250	-	0	-	0
Total Long Term Liabilities	£33,723,847	-67.9%	£105,114,260	255.2%	£29,596,549	105.7%	£14,389,296	-49.1%	£28,254,764

Capital & Reserves

Date Of Accounts	30/11/13	(%)	30/11/12	(%)	30/11/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£38,351,522	-	£38,351,522	-9.1%	£42,207,034	-1.6%	£42,900,921	-5%	£45,135,492
P & L Account Reserve	-£1,500,754	-118.9%	£7,932,469	-68.6%	£25,262,110	-76%	£105,334,963	12.4%	£93,693,545
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£119,801,025	-21.4%	£152,343,081	-9.3%	£168,015,262	284.1%	£43,746,945	-1.6%	£44,464,297
Shareholder Funds	£156,651,794	-21.1%	£198,627,073	-15.7%	£235,484,406	22.7%	£191,982,829	4.7%	£183,293,334

Other Financial Items

Date Of Accounts	30/11/13	(%)	30/11/12	(%)	30/11/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£156,651,794	-21.1%	£198,627,073	-15.7%	£235,484,406	22.7%	£191,982,829	4.7%	£183,293,334
Working Capital	£170,091,046	-40.3%	£284,745,252	17.5%	£242,288,653	27.7%	£189,687,285	-1.5%	£192,595,108
Total Assets	£905,043,111	1.9%	£888,078,384	7.4%	£827,173,855	-44.2%	£1,481,646,299	9.1%	£1,358,246,192
Total Liabilities	£748,391,317	8.5%	£689,451,311	16.5%	£591,689,449	-54.1%	£1,289,663,471	9.8%	£1,174,952,858
Net Assets	£156,651,794	-21.1%	£198,627,073	-15.7%	£235,484,406	22.7%	£191,982,829	4.7%	£183,293,334

Cash Flow

Date Of Accounts	30/11/13	(%)	30/11/12	(%)	30/11/11	(%)	31/12/10	(%)	31/12/09
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	30/11/13	(%)	30/11/12	(%)	30/11/11	(%)	31/12/10	(%)	31/12/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	YES
Capital Employed	£190,375,641	-37.3%	£303,741,333	14.6%	£265,080,956	28.4%	£206,372,125	-2.4%	£211,548,098
Number of Employees	140	-	140	-12.5%	160	3.9%	154	-1.3%	156
Auditors	PRICEWATERHOUSECOOPERS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	BARCLAYS BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	30/11/13	30/11/12	30/11/11	31/12/10	31/12/09
Pre-tax profit margin %	-17.51	18.01	43.24	39.79	39.15
Current ratio	1.24	1.49	1.43	1.15	1.17
Sales/Net Working Capital	0.39	0.22	0.24	0.26	0.18
Gearing %	21.50	52.90	13	7.50	15.40
Equity in %	17.30	22.40	28.50	13	13.50
Creditor Days	808.68	594.76	2970.69	8787.14	9751.93
Debtor Days	929.65	963.79	2189.74	6233.63	7163.37
Liquidity/Acid Test	1.23	1.48	1.43	1.14	1.14
Return On Capital Employed %	-6.04	3.73	9.38	9.37	6.41
Return On Total Assets Employed %	-1.27	1.27	3	1.30	0.99
Current Debt Ratio	4.56	2.94	2.38	6.64	6.25
Total Debt Ratio	4.77	3.47	2.51	6.71	6.41
Stock Turnover Ratio %	-	-	-	-	68.12
Return on Net Assets Employed %	-7.34	5.70	10.56	10.07	7.40

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Enquiries Trend

There have been 35 enquiries in the last 12 months.

There are an average of 3 reports taken each month.

	3 MONTHS	6 MONTHS	9 MONTHS
Enquiries	2	19	25

Total Current Directors	9
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	52

Status History

No Status History found

Event History

Date	Description
15/04/2014	New Board Member Mr W.P. Campbell appointed
09/04/2014	Annual Returns
03/04/2014	New Board Member Mr W.P. Campbell appointed
02/04/2014	New Board Member Mr D. Lester appointed
02/04/2014	New Board Member Mr A. Shortland appointed
02/04/2014	New Board Member Mr T.E. Cronin appointed
18/03/2014	New Accounts Filed
18/03/2014	New Accounts Filed
26/02/2014	Mr M.J. Coomber has left the board
12/04/2013	Annual Returns
19/03/2013	New Accounts Filed
19/03/2013	New Accounts Filed
25/04/2012	Annual Returns
13/03/2012	New Accounts Filed
13/03/2012	New Accounts Filed

Average Invoice Value	n/a
Invoices available	n/a
Paid	n/a
Outstanding	n/a

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

Sales in the latest trading period increased 4.3% on the previous trading period.

Net Worth decreased by 21.1% during the latest trading period.

A 1.9% growth in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 201.4% compared to the previous trading period.

The company saw an increase in their Cash Balance of 39.1% during the latest trading period.

The audit report contains no adverse comments.

The company has undergone recent changes in its directorships.

The company is part of a group.

The company was established over 61 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.44
UK Pound	1	Rs.100.24
Euro	1	Rs.80.35

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	SMN

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.

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