MIRA INFORM REPORT

Report No. :	498038
Report Date :	15.03.2018

IDENTIFICATION DETAILS

Name :	EDWARDS LIMITED
Formerly Known As :	EDWARDS UKCO 3 LIMITED
Registered Office :	Innovation Drive Burgess Hill,West Sussex,Rh15 9tw
Country :	United Kingdom
Financials (as on) :	31.12.2015
Date of Incorporation :	22.02.2007
Com. Reg. No.:	06124750
Legal Form :	Private limited with Share Capital
Line of Business :	· Manufacture of Pumps · Intermediate holding company
No. of Employees :	702 (2015)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Status :	Excellent
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately 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. 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; the UK has been a net importer of energy since 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.

In 2008, 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 the UK’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. Facing burgeoning public deficits and debt levels, in 2010 the then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. However, the deficit still remains one of the highest in the G7, standing at 3.6% of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20% to 17% by 2020. The UK had a debt burden of 90.4% GDP at the end of 2017.

The UK’s economy has begun to slow since the referendum vote to leave the EU in June 2016. A sustained depreciation of the British pound has increased consumer and producer prices, weighing on consumer spending without spurring a meaningful increase in exports. The UK has an extensive trade relationship with other EU members through its single market membership and economic observers have warned the exit will jeopardize its position as the central location for European financial services. Prime Minister MAY is seeking a new “deep and special” trade relationship with the EU following the UK’s exit. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations.

Source : CIA

Company name and address

Company Name: EDWARDS LIMITED

Company No: 06124750

Registered Address: INNOVATION DRIVE BURGESS HILL WEST SUSSEX RH15 9TW

Company Summary

Registered Address INNOVATION DRIVE BURGESS HILL
WEST SUSSEX
RH15 9TW

Trading Address Innovation Drive
Burgess Hill
West Sussex
RH15 9TW

Website Address http://www.edwardsvacuum.com

Telephone Number 01444253000

Fax Number

TPS Yes

FPS Yes

Incorporation Date 22/02/2007

Previous Name EDWARDS UKCO 3 LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 30/04/2007

Filing Date of Accounts 26/07/2016

Currency GBP

Share Capital £1,000

SIC07 28131

Charity Number -

SIC07 Description MANUFACTURE OF PUMPS

Principal Activity An intermediate holding company.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company ATLAS COPCO AKTIEBOLAG

Accountant -

Mortgages 22

Trade Debtors -

Group 21 companies

Linkages 254 companies

Countries In 44 countries

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder's Funds Employees

31/12/2015 £302,086,000 £122,228,000 £285,905,000 702

31/12/2014 £328,170,000 £92,033,000 £165,382,000 709

31/12/2013 £273,737,000 £8,678,000 £80,810,000 665

Mortgage Summary

Total Mortgage 22

Outstanding 18

Satisfied 4

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 2

Total Value of Documented Trade £99,432

Commentary

This company's return on total assets employed ratio indicates a highly efficient use of assets.

This company has made late payments on a medium percentage of invoices.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

The company has more cash than short term bank borrowings.

This company trades in an industry with a moderate level of corporate failures.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	1	Total Value of Possible CCJs -	£5,742
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -

Current Directors	4	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	17	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Michael Allison	Nationality	British
Date of Birth	10/1962	Present Appointments	2
Latest Address	Innovation Drive Burgess Hill, West Sussex	Appointment Date	15/06/2009
Post Code	RH15 9TW
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Title	Mr	Function	Director
Name	Gareth Valentine Harte	Nationality	Irish
Date of Birth	10/1966	Present Appointments	3
Latest Address	Innovation Drive Burgess Hill, West Sussex	Appointment Date	31/12/2013
Post Code	RH15 9TW
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Title		Function	Director
Name	Alex Jan Christiaan Bongaerts	Nationality	Belgian
Date of Birth	01/1960	Present Appointments	1
Latest Address	Innovation Drive Burgess Hill, West Sussex	Appointment Date	21/01/2014
Post Code	RH15 9TW
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Title	Mr	Function	Director
Name	Geert Henri Follens	Nationality	Belgian
Date of Birth	04/1959	Present Appointments	4
Latest Address	Innovation Drive Burgess Hill, West Sussex	Appointment Date	21/01/2014
Post Code	RH15 9TW
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Current Company Secretary

Title	Ms	Function	Company Secretary
Name	Caroline Amanda Peace	Nationality
Date of Birth	-	Present Appointments	1
Latest Address	Innovation Drive Burgess Hill, West Sussex	Appointment Date	12/12/2016
Post Code	RH15 9TW
Other Actions		View Consumer Report	View Trace Report
	View Compliance Report

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
ATLAS COPCO AIRPOWER NV	GBP	1,000	ORDINARY	1	100

Financials

Profit & Loss

	Date Of Accounts	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£302,086,000	-7.9%	£328,170,000	19.9%	£273,737,000	16.6%	£234,718,000	-50.7%	£475,849,000
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	£184,675,000	-8.7%	£202,365,000	22.1%	£165,779,000	14.4%	£144,856,000	-60.1%	£363,387,000
	Gross Profit	£117,411,000	-6.7%	£125,805,000	16.5%	£107,958,000	20.1%	£89,862,000	-20.1%	£112,462,000
	Wages & Salaries	£45,440,000	-0.8%	£45,789,000	4.5%	£43,823,000	5.6%	£41,483,000	-19.4%	£51,464,000
	Directors Emoluments	£1,404,000	-11.1%	£1,579,000	68.3%	£938,000	-27.2%	£1,289,000	-27.8%	£1,785,000
	Operating Profit	£123,335,000	37.1%	£89,984,000	328.3%	£21,010,000	50.4%	£13,967,000	-66.2%	£41,367,000
	Depreciation	£1,430,000	16.9%	£1,223,000	-17.4%	£1,480,000	54.3%	£959,000	5.2%	£912,000
	Audit Fees	£94,000	11.9%	£84,000	-30%	£120,000	-	£120,000	300%	£30,000
	Interest Payments	£3,960,000	-72.7%	£14,514,000	-43.8%	£25,806,000	-9%	£28,370,000	-6%	£30,168,000
	Pre Tax Profit	£122,228,000	32.8%	£92,033,000	960.5%	£8,678,000	5.1%	£8,253,000	-58.1%	£19,676,000
	Taxation	-£5,304,000	14.4%	-£6,195,000	-180.6%	-£2,208,000	63.4%	-£6,030,000	9.2%	-£6,642,000
	Profit After Tax	£116,924,000	36.2%	£85,838,000	999.9%	£6,470,000	191%	£2,223,000	-82.9%	£13,034,000
	Dividends Payable	-	-	-	-100%	£25,000,000	-	-	-	-
	Retained Profit	£116,924,000	36.2%	£85,838,000	563.2%	-£18,530,000	-933.6%	£2,223,000	-82.9%	£13,034,000

Balance Sheet

	Date Of Accounts	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11
	Tangible Assets	£332,381,000	-15.9%	£395,257,000	-31.4%	£575,864,000	-1.9%	£587,068,000	-5.1%	£618,461,000
	Intangible Assets	£49,371,000	10%	£44,867,000	-4.6%	£47,045,000	3.2%	£45,608,000	2.1%	£44,683,000
	Total Fixed Assets	£381,752,000	-13.3%	£440,124,000	-29.3%	£622,909,000	-1.5%	£632,676,000	-4.6%	£663,144,000
	Stock	£1,002,000	-62%	£2,639,000	281.9%	£691,000	30.6%	£529,000	-76.7%	£2,266,000
	Trade Debtors	£35,233,000	-0.7%	£35,489,000	50.6%	£23,563,000	23.5%	£19,086,000	-15.4%	£22,568,000
	Cash	£9,241,000	999.9%	£78,000	-85.4%	£535,000	-79.5%	£2,609,000	-87.9%	£21,474,000
	Other Debtors	£11,265,000	-94%	£187,899,000	129.7%	£81,797,000	-1.3%	£82,885,000	-23.2%	£107,883,000
	Miscellaneous Current Assets	£4,475,000	227.1%	£1,368,000	-68.8%	£4,385,000	7.2%	£4,092,000	399.6%	£819,000
	Total Current Assets	£61,216,000	-73.1%	£227,473,000	105%	£110,971,000	1.6%	£109,201,000	-29.6%	£155,010,000
	Trade Creditors	£2,451,000	-28.3%	£3,417,000	18.2%	£2,891,000	5.7%	£2,734,000	-42.1%	£4,722,000
	Bank Loans & Overdrafts	0	-	0	-100%	£49,667,000	-	0	-100%	£20,803,000
	Other Short Term Finance	£20,625,000	-94.2%	£357,757,000	75.9%	£203,413,000	123.4%	£91,052,000	-8.3%	£99,265,000
	Miscellaneous Current Liabilities	£24,826,000	-16.8%	£29,847,000	23.7%	£24,125,000	37.5%	£17,551,000	-32.5%	£26,006,000
	Total Current Liabilities	£47,902,000	-87.7%	£391,021,000	39.6%	£280,096,000	151.6%	£111,337,000	-26.2%	£150,796,000
	Bank Loans & Overdrafts and LTL	£109,161,000	-1.8%	£111,194,000	-73.7%	£422,641,000	-21.1%	£535,694,000	-11.1%	£602,393,000
	Other Long Term Finance	0	-100%	£357,000	-99.9%	£361,980,000	-31.1%	£525,519,000	999.9%	£10,470,000
	Total Long Term Liabilities	£109,161,000	-1.8%	£111,194,000	-70.2%	£372,974,000	-30.4%	£535,694,000	-7.9%	£581,590,000

.

Capital & Reserves

	Date Of Accounts	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11
	Called Up Share Capital	£1,000	-	£1,000	-	£1,000	-	£1,000	-	£1,000
	P & L Account Reserve	£285,904,000	72.9%	£165,381,000	104.7%	£80,809,000	-21.7%	£103,145,000	20.3%	£85,767,000
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	100%	-£8,300,000	-	-
	Shareholder Funds	£285,905,000	72.9%	£165,382,000	104.7%	£80,810,000	-14.8%	£94,846,000	10.6%	£85,768,000

Other Financial Items

	Date Of Accounts	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11
	Net Worth	£236,534,000	96.3%	£120,515,000	256.9%	£33,765,000	-31.4%	£49,238,000	19.8%	£41,085,000
	Working Capital	£13,314,000	108.1%	-£163,548,000	3.3%	-£169,125,000	-999.9%	-£2,136,000	-150.7%	£4,214,000
	Total Assets	£442,968,000	-33.6%	£667,597,000	-9%	£733,880,000	-1.1%	£741,877,000	-9.3%	£818,154,000
	Total Liabilities	£157,063,000	-68.7%	£502,215,000	-23.1%	£653,070,000	0.9%	£647,031,000	-11.7%	£732,386,000
	Net Assets	£285,905,000	72.9%	£165,382,000	104.7%	£80,810,000	-14.8%	£94,846,000	10.6%	£85,768,000

Cash Flow

	Date Of Accounts	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11
	Net Cashflow from Operations	£15,531,000	-71.4%	£54,366,000	29.7%	£41,928,000	21.3%	£34,572,000	-33.3%	£51,826,000
	Net Cashflow before Financing	£65,002,000	26.4%	£51,437,000	357.4%	£11,245,000	-53.6%	£24,252,000	-55.1%	£53,961,000
	Net Cashflow from Financing	£104,257,000	164.2%	-£162,323,000	-157.7%	-£62,986,000	-46.1%	-£43,117,000	60.3%	-£108,643,000
	Increase in Cash	£169,259,000	252.6%	-£110,886,000	-114.3%	-£51,741,000	-174.3%	-£18,865,000	65.5%	-£54,682,000

Miscellaneous

	Date Of Accounts	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11
	Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
	Capital Employed	£395,066,000	42.8%	£276,576,000	-39.1%	£453,784,000	-28%	£630,540,000	-5.5%	£667,358,000
	Number of Employees	702	-1%	709	6.6%	665	-8.3%	725	-14.1%	844
	Accountants
	Auditors	DELOITTE LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/12/15	31/12/14	31/12/13	31/12/12	31/12/11
	Pre-tax profit margin %	40.46	28.04	3.17	3.52	4.13
	Current ratio	1.28	0.58	0.40	0.98	1.03
	Sales/Net Working Capital	22.69	-2.01	-1.62	-109.89	112.92
	Gearing %	38.20	67.20	523	564.80	702.40
	Equity in %	72.60	26.60	11.80	13.60	11.10
	Creditor Days	2.95	3.79	3.84	4.23	3.61
	Debtor Days	42.45	39.36	31.33	29.59	17.26
	Liquidity/Acid Test	1.25	0.57	0.39	0.97	1.01
	Return On Capital Employed %	30.93	33.27	1.91	1.30	2.94
	Return On Total Assets Employed %	27.59	13.78	1.18	1.11	2.40
	Current Debt Ratio	0.16	2.36	3.46	1.17	1.75
	Total Debt Ratio	0.54	3.03	8.08	6.82	8.53
	Stock Turnover Ratio %	0.33	0.80	0.25	0.22	0.47
	Return on Net Assets Employed %	42.75	55.64	10.73	8.70	22.94

Event History View Documents

Date	Description
30/08/2017	Payment Data Update Received
03/07/2017	Mr N.A. Lavender Jones has left the board
03/03/2017	Annual Returns
16/12/2016	New Company Secretary Ms C.A. Peace appointed
14/12/2016	Ms S.S. Patrick has resigned as company secretary
05/09/2016	Change in Reg.Office
05/09/2016	Change of Company Postcode
04/08/2016	Payment Data Update Received
04/08/2016	New Accounts Filed
04/08/2016	New Accounts Filed
09/03/2016	Annual Returns
05/12/2015	New Accounts Filed
05/12/2015	New Accounts Filed
03/12/2015	Payment Data Update Received
03/03/2015	Annual Returns

Previous Company Names

Date	Previous Name
30/04/2007	EDWARDS UKCO 3 LIMITED

Statistics

Group	21 companies
Linkages	254 companies
Countries	In 44 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	ATLAS COPCO AKTIEBOLAG

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
ATLAS COPCO AKTIEBOLAG	5560142720	31.12.2016	Y
ATLAS COPCO (IRELAND)...	IE023286	31.12.2015	N	€7,893,681
AIRCOSSE LIMITED	IE386087	31.12.2015	N
COMPRESSED AIR SYSTE...	NI022596	31.12.2015	N
ATLAS COPCO (NI) L...	NI041336	31.12.2015	N
ATLAS COPCO AIRPOWER NV	403992231	31.12.2016	N	€1,567,959,645
EDWARDS LIMITED	06124750	31.12.2015	N	£302,086,000
EDWARDS HIGH VACUU...	01148654	31.12.2016	N	£92,284,000
EDWARDS VACUUM TEC...	IE438251	31.12.2015	N	€9,150,000
ATLAS COPCO UK HOLDING...	01194804	31.12.2016	N	£1,257,000
CHICAGO PNEUMATIC TO...	03817109	31.12.2016	N
AIR COMPRESSORS & TO...	00164206	31.12.2015	N	£14,597,000
ATLAS COPCO LIMITED	00159809	31.12.2015	N	£181,285,000
COMPRESSOR ENGINEE...	01263078	31.12.2016	N
COMPRESSOR ENGINEE...	01723871	31.12.2016	N
ATLAS COPCO MEDICAL...	02957933	31.12.2016	N	£24,950,000
HENROB LIMITED	01873269	31.12.2016	N	£37,684,804
SCA SCHUCKER UK LTD	07789707	31.12.2016	N	£5,242,155
TENTEC LIMITED	02269292	31.12.2015	N	£17,406,000
MEDAESUSCO INC	N/A	-	-
MEDAESUKCO	05254026	31.12.2012	N

Statistics

Group	21 companies
Linkages	254 companies
Countries	In 44 countries

Other Linked Companies

Name	Number	Latest Key Financials	Turnover
ATLAS COPCO (INDIA)	00020566	31.03.2014	€406,932,052
ATLAS COPCO FINANCE EUROPE NV	439928751	31.12.2016	€1,409,381
ATLAS COPCO FINANCE BELGIUM BVBA	821054421	31.12.2016	€4,756,832
ATLAS COPCO K.K.	8010401001811	01.12.2013	14,600,000,000
THERMADOR GROUPE	339159402	31.12.2016
ATLAS COPCO FRANCE HOLDING	678200569	31.12.2016	€5,122,483
ATLAS COPCO HOLDING GMBH	HRB 7550	31.12.2015	€439,539,743
EDWARDS SAS	378821771	31.12.2015	€13,038,939
EDWARDS SAS	378821771	31.12.2015	€13,038,939
POWER TOOLS DISTRIBUTION NV	443676020	31.12.2016	€887,153,449
ATLAS COPCO ROCK DRILLS AKTIEBOLAG	5560779018	31.12.2016	8,221,294 KSEK
ATLAS COPCO AS	910324381	31.12.2016
ATLAS COPCO ITALIA S.P.A.	MI397265	31.12.2016	€169,498,358
ATLAS COPCO DYNAPAC AB	5566550413	31.12.2013
CAPANYD AB	5566550421	31.12.2016
EPIROC TREASURY AKTIEBOLAG	5562779537	31.12.2016
ATLAS COPCO ANLEGG- OG	954582736	31.12.2016	533,107 KNOK
ATLAS COPCO BEHEER B.V.	23048106	31.12.2015
CONSTRUCTION TOOLS PC AB	5560697228	31.12.2016	448,779 KSEK
HIBON INTERNATIONAL SA	335093076	31.12.2015

Mortgage Details

Mortgage Type:	SUPPLEMENTAL MORTGAGE
Date Charge Created:	23/01/13
Date Charge Registered:	04/02/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE TO ANY SECURED PARTY UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	ALL OF THE RIGHT TITLE AND INTEREST FROM TIME TO TIME IN THE MORTGAGED PROPERTY. MORTGAGED PROPERTYMEANS F/H PROPERTYWITH T/NO WSX206151 AT INNOVATION DRIVE, BURGESS HILL TOGETHER WITH ALL BUILDINGS, FIXTURES AND ALL PROCEEDS OF SALE. SEE IMAGE FOR FULL DETAILS

Mortgage Type:	AN OWNERSHIP INTEREST PLEDGE AGREEMENT EXECUTED OUTSIDE THE UNITED KINGDOM OVERPROPERTY SITUATED THERE
Date Charge Created:	29/06/11
Date Charge Registered:	19/07/11
Date Charge Satisfied:	18/07/17
Status:	SATISFIED
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH;
Amount Secured:
Details:	PLEDGES THE OWNERSHIP INTEREST,INCLUDING ALL INCOME,DISTRIBUTIONS OF PROFITS AND OTHER PAYMENTS AND BENEFITS SEE IMAGE FOR FULL DETAILS

Mortgage Type:	DEED OF CHARGE OVER CREDIT BALANCES
Date Charge Created:	22/12/10
Date Charge Registered:	31/12/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	THE CHARGE CREATES A FIXED CHARGE OVER ALL THE DEPOSIT(S) REFERRED TO IN THE SCHEDULE TO THE FORM 395 (INCLUDING ALL ORANY PART OF THE MONEY PAYABLE PURSUANT TO SUCH DEPOSIT(S) & THE DEBTS REPRESENTEDTHEREBY) TOGETHER WITH ALL INTEREST FROM TIME TO TIME ACCRUING THEREON. IT ALSO CREATES AN ASSIGNMENT BY THE CHARGOR FOR THE PURPOSES OF & TO GIVE EFFECT TO THE SECURITY OVER THE RIGHT OF THE CHARGORTO REQUIRE REPAYMENT OF SUCH DEPOSIT(S) & INTEREST THEREON BARCLAYS BANK PLC RE EDWARDS LIMITED CURRENT ACCOUNT ACCOUNT NUMBER 33589595

Mortgage Type:	SHARE PLEDGE AGREEMENT
Date Charge Created:	31/08/10
Date Charge Registered:	10/09/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG, NEW YORK BRANCH
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	ALL OF ITS RIGHT, TITLE AND INTEREST IN, TO AND UNDER ITS PLEDGED SHARES MEANING THE 393,231 COMMONSHARES SEE IMAGE FOR FULL DETAILS

Mortgage Type:	OWNERSHIP INTEREST PLEDGE AGREEMENT
Date Charge Created:	16/06/10
Date Charge Registered:	24/06/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	OWNERSHIP INTEREST, INCLUDING ALL INCOME, DISTRIBUTIONS OF PROFITS AND OTHER PAYMENTS AND BENEFITS,SEE IMAGE FOR FULL DETAILS

Mortgage Type:	A PLEDGE OVER SHARES AGREEMENT
Date Charge Created:	31/05/07
Date Charge Registered:	13/03/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS ADMINISTRATIVE AGENT
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE SHARES BEING 1,632,000 ORDINARY SHARES HAVING EACH A PAR VALUE OF EUR 0.52SEE IMAGE FOR FULL DETAILS

Mortgage Type:	A PLEDGE OVER SHARES AGREEMENT
Date Charge Created:	31/05/07
Date Charge Registered:	13/03/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS ADMINISTRATIVE AGENT
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE SHARES BEING 1,632,000 ORDINARY SHARES HAVING EACH A PAR VALUE OF EUR 0.52 SEE IMAGE FOR FULL DETAILS

Mortgage Type:	KUN-PLEDGE AGREEMENT
Date Charge Created:	25/11/08
Date Charge Registered:	01/12/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG, NEW YORK BRANCH
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO ANY LENDER COUNTERPARTY OR OTHER COVERED COUNTERPARTY ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE COLLATERAL BEING THE MORTGAGED LOANASSETS, INVENTORY LOAN ASSETS AR LOAN ASSETS INSURANCE LOAN ASSETS AND MEMBERSHIP LOAN ASSETS, SEE IMAGE FOR FULL DETAILS

Mortgage Type:	A SHARE PLEDGE AGREEMENT
Date Charge Created:	17/07/07
Date Charge Registered:	14/11/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS COLLATERAL AGENT FOR AND ON BEHALF OF THE SECURED PARTIES
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE PLEDGEES ON ANY ACCOUNTWHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE SHARES TOGETHER WITH ALL ANCILLIARYRIGHTS AND CLAIMS SEE IMAGE FOR FULL DETAILS

Mortgage Type:	A SHARE PLEDGE AGREEMENT
Date Charge Created:	17/07/07
Date Charge Registered:	14/11/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS COLLATERAL AGENT FOR AND ON BEHALF OF THE SECURED PARTIES
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE PLEDGEES ON ANY ACCOUNTWHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE SHARES TOGETHER WITH ALL ANCILLIARYRIGHTS AND CLAIMS SEE IMAGE FOR FULL DETAILS

Mortgage Type:	A PLEDGE OVER SHARES
Date Charge Created:	31/05/07
Date Charge Registered:	14/11/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS ADMINISTRATIVE AGENT FOR THE LENDERS
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE BUT NOTEXCEEDING US$825,000,000 UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	ALL RIGHT TITLE AND INTEREST IN AND TO THE PLEDGED PROPERTY BEING THE INITIALLYPLEDGED SHARES AND ANY OTHER SHARES IN EDWARDS TECHNOLOGIES LIMITED OR BOC EDWARDS HTC LTD TOGETHER WITH ALL DIVIDENS STOCKS SHARES SEE IMAGE FOR FULL DETAILS

Mortgage Type:	A SHARE CHARGE
Date Charge Created:	31/05/07
Date Charge Registered:	14/11/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS ADMINISTRATIVE AGENT FOR AND ON BEHALF OF THE SECURED PARTI
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE PLEDGOR UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE SHARES BEING 150,000 FULLY PAID UP ORDINARY SHARES IN THE COMPANY ALL OTHERCHARGED SECURITIES ALL RIGHTS SEE IMAGEFOR FULL DETAILS

Mortgage Type:	A SHARE CHARGE
Date Charge Created:	31/05/07
Date Charge Registered:	14/11/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS ADMINISTRATIVE AGENT FOR AND ON BEHALF OF THE SECURED PARTI
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE PLEDGOR UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE SHARES BEING 150,000 FULLY PAID UP ORDINARY SHARES IN THE COMPANY ALL OTHERCHARGED SECURITIES ALL RIGHTS SEE IMAGEFOR FULL DETAILS

Mortgage Type:	A PLEDGE OVER SHARES
Date Charge Created:	31/05/07
Date Charge Registered:	14/11/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS ADMINISTRATIVE AGENT FOR THE LENDERS
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	ALL OF ITS RIGHT TITLE AND INTEREST PRESENT AND FUTURE IN AND TO THE EQUITY INTEREST SEE IMAGE FOR FULL DETAILS

Mortgage Type:	A PLEDGE OVER SHARES
Date Charge Created:	31/05/07
Date Charge Registered:	14/11/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS ADMINISTRATIVE AGENT FOR THE LENDERS
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	ALL OF ITS RIGHT TITLE AND INTEREST PRESENT AND FUTURE IN AND TO THE EQUITY INTEREST SEE IMAGE FOR FULL DETAILS

Mortgage Type:	AN AMENDMENT AGREEMENT
Date Charge Created:	31/07/08
Date Charge Registered:	14/11/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS ADMINISTRATIVE AGENT FOR THE LENDERS
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE PLEDGED SHARES AND ALL DIVIDENDS DISTRIBUTIONS CASH INSTRUMENTS AND OTHER PROPERTY SEE IMAGE FORFULL DETAILS

Mortgage Type:	A PLEDGE OVER SHARES
Date Charge Created:	31/05/07
Date Charge Registered:	14/11/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS ADMINISTRATIVE AGENT FOR THE LENDERS
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE PLEDGED SHARES AND ALL DIVIDENDS DISTRIBUTIONS CASH INSTRUMENTS AND OTHER PROPERTY SEE IMAGE FORFULL DETAILS

Mortgage Type:	AMENDED AND RESTATED SHARE KUN-PLEDGE AGREEMENT
Date Charge Created:	31/07/08
Date Charge Registered:	12/08/08
Date Charge Satisfied:	18/07/17
Status:	SATISFIED
Person(s) Entitled:	DEUTSCHE BANK AG, NEW YORK BRANCH;
Amount Secured:
Details:	ALL OF ITS RIGHT, TITLE AND INTEREST INTHE SHARES MEANING 100% OF SHARES IN THE COMPANY, SEE IMAGE FOR FULL DETAILS

Mortgage Type:	AMENDMENT AND RESTATEMENT AGREEMENT
Date Charge Created:	30/07/07
Date Charge Registered:	16/08/07
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS AGENT AND TRUSTEES FOR THE SECURED PARTIES
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL UNCALLED CAPITAL BUILDINGS FIXTURES PLANT ANDMACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	AN AMENDMENT AND RESTATEMENT AGREMMENT
Date Charge Created:	30/07/07
Date Charge Registered:	16/08/07
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS AGENT AND TRUSTEES FOR THE SECURED PARTIES
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE CUSTOMER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL UNCALLED CAPITAL BUILDINGS FIXTURES PLANT ANDMACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	31/05/07
Date Charge Registered:	13/06/07
Date Charge Satisfied:	18/07/17
Status:	SATISFIED
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS AGENT AND TRUSTEE FOR THE SECURED PARTIES;
Amount Secured:
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL UNCALLED CAPITAL BUILDINGS FIXTURES PLANT ANDMACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	31/05/07
Date Charge Registered:	04/04/14
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	DEUTSCHE BANK AG NEW YORK BRANCH AS AGENT AND TRUSTEE FOR THE SECURED PARTIES;
Amount Secured:
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL UNCALLED CAPITAL BUILDINGS FIXTURES PLANT ANDMACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-

No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	2	£99,432

Company Name	Amount	Statement Date
Rimara Thermal Ltd	£99,061	21/05/2010
Fluoro Precision Coatings Ltd	£371	09/03/2017

Previous Director/Company Secretaries

Name	Current Active Appointments	Previous Appointments	Dissolved Companies
Stephen Ellis Ormrod	0	2	2
Stephen Frank Welton	0	19	16
Matthew Gordon Robert Taylor	0	22	6
Heinz Henrik Holsten	0	2	7
Heinz Henrik Holsten	0	2	7
Caroline Gibbings	0	1	1
Melanie Jane Rowlands	0	2	4
Sarah Louise Larkins	0	1	0
David Miles Smith	2	25	13
Michael Anscombe	0	1	0
Nigel David Hunton	1	6	6
Neil Anthony Lavender Jones	1	2	2
Christopher Bradley	9	14	6
Christopher Bradley	9	14	6
Sally Suzanne Patrick	0	1	0
INSTANT COMPANIES LIMITED	9	33962	88800
SWIFT INCORPORATIONS LIMITED	11	77826	188231

Total Persons With Significant Control	1	Total Statements	0
Active	1	Active	0
Ceased	0	Ceased	0

Active Persons With Significant Control

Name	Atlas Copco Ab	Kind	Corporate Entity With Significant Control
Address	Sickla Industriväg 19 1341 54 Nacka, Stockholm	Notified On	06/04/2016
Post Code	-	Legal Form	Aktiebolag
Authority	Swedish	Place Registered	Bolagsverkert, Sweden
Country Registered	Sweden	Registration Number	556014-2720
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 Percent,Right To Appoint And Remove Directors

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.99
UK Pound	1	INR 90.83
Euro	1	INR 80.58
GBP	1	INR 90.72

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.