Notice of Cessation of Receivership

Pursuant to Section 29(1) of the Receiverships Act 1993

We, Richard Grant Simpson and David Ian Ruscoe, of Grant Thornton New Zealand Limited, hereby give notice that on 31 August 2016 we ceased to act as receivers and managers of all the understakings, property and assets of the above-named entities.

The receiverships were ceased by the refinancing of the secured debt.

Dated this 8th day of November 2016.

DAVID IAN RUSCOE, Former Receiver and Manager.