Share Acquisition Agreement
between
Tamaris plc
as Seller
and
Omega Worldwide, Inc.
as Purchaser
relating to
sale and purchase of certain subsidiaries of Tamaris plc
THIS Agreement is dated the 29th day of October 1999 and made
BETWEEN:
(1) TAMARIS PLC (the "Seller"), a company registered in England and Wales
with company number 1698076 and having its registered office at Xxxxx
Xxxxx, Xxxxxxxxx Xxxx, Xxxxxxxxxxx, Xxxxxxxxx XX0 0XX; and
(2) OMEGA WORLDWIDE, INC. (the "Purchaser"), a company incorporated in
Maryland, USA and having its principal place of business at 000 Xxxxxxx
Xxx, Xxxxx 000, Xxx Xxxxx, Xxxxxxxx 00000, XXX.
WHEREAS the Purchaser has offered to purchase (or procure the purchase of) and
the Seller has agreed to sell (or procure the sale of) the entire issued share
capital of the Companies (defined below) on the terms and conditions hereinafter
set out.
IT IS HEREBY AGREED as follows:-
1. Interpretation
1.1 Definitions
In this Agreement the following expressions shall bear the following
respective meanings:-
"Agreed Form" means in the form of the document annexed hereto
and initialled by or on behalf of the Seller and the
Purchaser for the purposes of identification;
"Bank Indebtedness" means all amounts owed or owing by the Companies to
Barclays Bank plc at Completion;
"Companies" means the companies details of which are set out in
Schedule 1 and the term "Company" shall be construed accordingly;
"Charge" means the debenture dated 14 October 1998 in favour of
Barclays Bank plc (and any other security in favour of Barclays Bank
plc over or in respect of the Sale Shares);
"Completion" shall mean completion of the sale and purchase of the Sale
Shares as provided or referred to in Clause 4;
"Condition" means the condition described in Clause 4.1;
"Deeds of Release" means the deeds of release in favour of the
Companies, the Seller and certain members of the Seller's Retained
Group from Barclays Bank plc in the Agreed Form;
"Encumbrances" includes any interest or equity of any person (including
any right to acquire, option or right of pre-emption) or any mortgage,
charge, pledge, lien (other than liens arising by operation of law and
securing indebtedness not more than seven days overdue), assignment,
hypothecation or other priority interest, deferred purchase,
entitlement of retention, trust, leasing, sale and repurchase or sale
and lease back arrangements, right of set off or any other agreement or
arrangement whatsoever having the same commercial or economic effect as
security (including any hold-back or "flawed asset" arrangement) over
or in any property, assets or rights of whatsoever nature and includes
any agreement for any of the foregoing;
"Idun" means Mixtop Limited, a wholly owned subsidiary of the
Purchaser, being a company incorporated in England under number 3863850
which is in the course of changing its name to Idun Health Care
Limited;
"Properties" means the leasehold properties short particulars of which
are set out in Part I of Schedule 2 and the freehold (or
heritable/freehold) properties short particulars of which are set out
in Part 2 of Schedule 2;
"Retention" means the sum referred to in Clause 3.2;
"Sale Shares" means the entire issued share capital of each of the
Companies;
"Seller's Nominee" means the person to be nominated by the Seller to
the Purchaser in writing for the purposes of Clause 3.1(B) who shall
agree to hold the Tamaris Shares on trust for all members of the Seller
other than the Purchaser [or any of the Purchaser's subsidiaries];
"Seller's Retained Group" means the Seller and each of its subsidiaries
other than the Companies; and
"Tamaris Shares" means the 4,170,250 ordinary shares of 10p each in the
capital of the Seller held by the Purchaser.
1.2 Headings
The headings and sub-headings and any contents pages are inserted for
convenience only and shall not affect the construction of this
Agreement.
1.3 Schedules
Each of the Schedules shall have effect as set out in this Agreement.
2. Sale of Shares
2.1 Sale and Purchase
Subject to the terms and conditions of this Agreement, the Seller with
full title guarantee shall sell or procure the sale of and the
Purchaser shall purchase (or procure the purchase of) the Sale Shares
free of all Encumbrances and together with all rights now or
hereinafter attaching thereto.
2.2 Simultaneous Completion
The Purchaser shall not be obliged to complete the sale and purchase of
any of the Sale Shares unless the sale and purchase of all the Sale
Shares is completed simultaneously.
3. Consideration
3.1 Amount
The total consideration for the Sale Shares shall consist of:-
(A) the sum of(pound)1,075,000 which shall be apportioned between
the Companies as set out in Schedule 1; and
(B) the transfer by the Purchaser to the Seller's Nominee of the
Tamaris Shares.
3.2 Retention
The Purchaser shall be entitled to retain out of the consideration
payable under Clause 3.1(A) the sum of (pound)200,000 which it shall
apply at the Seller's direction solely towards the settlement of the
outstanding fees and expenses owed by the Seller and its subsidiaries
as at the date of Completion to Messrs Xxxxx Xxxxxxxx and any balance
remaining after final settlement of such fees and expenses shall be
paid as soon as reasonably practicable to Barclays Bank Plc on behalf
of the Seller.
4. Condition and Completion
4.1 Condition
Subject to the following provisions of this Clause, Completion is
conditional upon The London Stock Exchange Limited giving consent to
the Seller in terms reasonably satisfactory to the Seller and the
Purchaser to enable the sale of the Sale Shares to be completed without
the posting of a circular to the Seller's shareholders and without the
approval of the Seller's shareholders.
4.2 Completion
(A) The Seller shall use all reasonable endeavours to procure
satisfaction of the Condition as quickly as possible and in
any event within 2 days of the date hereof. If the Condition
cannot be fulfilled simultaneously with Completion within 2
days of the date hereof this Agreement shall upon the expiry
of such period terminate.
(B) Completion shall take place at the offices of Xxxxxxx &
Xxxxxxx, 00 Xxxxxx Xxxxxx, Xxxxxx XX0X 0XX on the date hereof
immediately following the execution hereof or (if later) on
the date that the Condition can be fulfilled when the Seller
shall do or procure the doing of the things set out in
paragraph 1 of Schedule 3 and the Purchaser shall do or
procure the doing of the things set out in paragraph 2 of
Schedule 3.
5. Warranties and Undertakings
5.1 Warranties
The Seller warrants and represents to the Purchaser as follows:
(A) the Seller, Meadowvale Care Limited, Tamaris Healthcare plc,
Tamaris (Scotland) Limited, Tamaris (QCH) Limited and
Caledonian Care Limited are the beneficial owners of all the
Sale Shares free of all Encumbrances (other than the Charge);
(B) so far as the Seller is aware having made all reasonable
enquiries, the Companies are the beneficial owners of the
leasehold interests in each of the Properties as described in
Schedule 2 free of all Encumbrances other than (1) the Charge
(2) the charges in favour of the landlords described in
Schedule 2 and (3) such rights of forfeiture as may exist by
reason of the failure of the Company to pay rent and other
payments to the respective landlords;
(C) so far as the Seller is aware having made all reasonable
enquiries, the rental arrears for each Property listed in Part
I (A) of Schedule 2 are as set out against such Property and
so far as the Seller is aware there are no other arrears of
rental or other payments due by the Companies to the landlords
of such Properties;
(D) so far as the Seller is aware having made all reasonable
enquiries, there are no charges or other Encumbrances over any
of the assets of the Companies save as set out in such
respective Companies' register of charges which have been made
available for inspection by the Purchaser prior to the date
hereof;
(E) the Bank Indebtedness does not and will not immediately prior
to Completion exceed (pound)3,900,000; and
(F) so far as the Seller is aware having made all reasonable
enquiries, no petition has been presented for the winding up
of the Seller and no administrator or receiver (including an
administrative receiver) has been appointed over any or all of
the Seller's assets.
5.2 Seller's Undertaking
The Seller undertakes, so far as it is able, to procure that the
businesses of the Companies are carried on as going concerns until
Completion.
5.3 Purchaser's Undertakings etc
(A) The Purchaser undertakes to procure the release of the Seller
(and each other member of the Seller's Retained Group) from
all guarantees given by it in respect of any of the leases set
out in Part 1 of Schedule 2 granted to certain of the
Companies as soon as reasonably practicable after Completion
and pending such release the Purchaser undertakes to indemnify
and keep the Seller (and each such member of the Seller's
Retained Group) indemnified from and against any loss, damage,
liability, cost, charge or expense incurred thereunder. All
sums payable under any such indemnity shall be paid free and
clear of all deductions or witholdings unless the deduction or
withholding is required by law.
(B) The Purchaser acknowledges and agrees that it has not entered
into this Agreement in reliance upon any warranties,
representations, assurances or promises made by the Seller or
any member of the Seller's Retained Group save for those
specified in clause 5.1 above.
5.4 Tax Administration
(A) The Seller shall make such surrender of losses etc. to the
Companies under section 402 Income and Corporation Taxes Xxx
0000, as the Purchaser may direct save that the Purchaser
acknowledges and agrees that losses surrendered in respect of
the financial year of the Seller ended 31 March 1998 shall not
exceed those taken into account in the draft computations
prepared by Messrs Xxxxx Xxxxxxxx and submitted to the
Inspector of Taxes and the losses available for surrender in
respect of the financial year of the Seller ended 31 March
1999 shall be limited such that the Seller's Retained Group
(other than Lifecare International plc, Tamaris Estates
Limited, Billinghay Limited and Walcott Limited) shall be
entitled to retain up to (pound)300,000 of such losses.
(B) The Seller and Purchaser shall, as soon as reasonably
practicable and at their own cost and expense attend to the
preparation, submission and agreement of the tax computations
of their respective companies to be made in respect of all
accounting periods of such companies ending on or before 31
March 1999. Before any such computations or returns are
submitted to a tax authority, Purchaser and Seller shall
deliver drafts thereof to the other party. Provided that the
recipient party provides the other with comments on such draft
computations and returns within 21 days of them having been
received, the Purchaser and Seller shall incorporate the other
party's reasonable comments before submission of the
computations and returns to a tax authority, subject to 5.4(A)
above.
(C) The Purchaser and the Seller agree that, insofar as reasonably
practicable, they will co-operate in providing each other with
such information as they may reasonably require to prepare,
submit and agree the tax computations and returns of the
Companies. For the avoidance of doubt, this clause 5.4(A)
shall apply in respect of all accounting periods of the
Companies, whether ending on, before or after Completion.
5.5 Warranty Limitations
Save in the case of fraud or wilful concealment, the liability of the
Seller under the warranties and representations referred to in clause
5.1(B), (C) and (D) shall be limited to the aggregate of the sum
specified in clause 3.1(A) together with the Bank Indebtedness and the
arrears of rent in relation to the Properties as at Completion. Save in
the case of fraud or wilful concealment, no claim shall be made by the
Purchaser under such warranties and representations unless such claim
is brought within 2 years of the date of Completion or if the subject
matter of such claim is specifically apparent from written information
disclosed by the Seller or its legal advisers to the Purchaser's legal
advisers prior to the date of this Agreement.
6. Announcements
6.1 The Seller shall fully consult with the Purchaser concerning any
announcement regarding this Agreement or the sale and purchase of the
Companies hereunder and, except to the extent required by law or the
requirements of The London Stock Exchange Limited, shall make such
amendments to any such announcement as the Purchaser shall reasonably
require.
7. General
7.1 Assignment
No party shall be entitled to assign the benefit or burden of all or
any of its obligations under this Agreement save that the Purchaser may
assign the benefit hereof to any wholly owned subsidiary nominated by
it to acquire any of the Sale Shares on Completion save that the
Purchaser may not assign the burden of any covenants, obligations or
indemnities of the Purchaser contained therein.
7.2 Variations
No variation of this Agreement shall be effective except if made in
writing and signed by each of the parties.
7.3 Further assurance
On the date of Completion the Seller shall, at the request and cost of
the Purchaser, execute or procure the execution of such documents and
do or procure the doing of such acts and things as the Purchaser may
reasonably require for the purpose of vesting the Sale Shares in the
Purchaser or its nominees and/or giving to the Purchaser and/or its
nominees the full benefit of all the provisions of this Agreement.
7.4 Costs
Each party shall bear its own costs arising under or out of this
Agreement or its preparation or implementation.
7.5 Notices
(A) Any notice required to be given under this Agreement or in
connection with the matters contemplated by it, shall be made
in writing in the English language.
(B) Any such notice shall be addressed as provided in
sub-clause(C) and may be:-
(1) personally delivered, in which case it shall be deemed
to have been given upon delivery at the relevant
address; or
(2) if within the United Kingdom sent by first class
pre-paid post, in which case it shall be deemed to
have been given two business days after the date of
posting; or
(3) if from or to any place outside the United Kingdom,
sent by pre-paid priority air mail, in which case it
shall be deemed to have been given seven business days
after the date of posting; or
(4) sent by facsimile, in which case it shall be deemed to
have been given when dispatched, subject to
confirmation of uninterrupted transmission by a
transmission report provided that any notice dispatched
by facsimile after 1700 hours on any day shall be
deemed to have been received at 0900 (London time) on
the next business day.
(C) The addresses and other details of the parties referred to in
sub-clause (B) above, subject to sub-clause (D), are:-
Tamaris plc
For the attention of: Xxxxxxx Xxx Xxxxxxx
Address: Xxxxxxxx Xxxxx
00xx Xxxxx
Xxxxxxxx
Xxxxxx XX0X 0XX
Facsimile number: 0171 630 6911
Omega Worldwide, Inc.
For the attention of: Xxx Xxxxxxxx / Chee Jap
Address: c/o Omega (UK) Limited
000 Xxxxxx Xxxxxx
Xxxxxx XX0X 0XX
Facsimile number: 0171 929 3555
(D) Any party to this Agreement may notify the other of any change
to the address or any of the other details specified in
sub-clause (C), provided that such notification shall only be
effective on the date specified in such notice or five
business days after the notice is given, whichever is later.
8. Proper law and jurisdiction
8.1 This Agreement shall be governed by and construed in accordance with
English law.
8.2 In relation to any legal action or proceedings to enforce this
Agreement or arising out of or in connection with this Agreement
("Proceedings"), each of the parties to this Agreement irrevocably
submits to the exclusive jurisdiction of the English courts and waives
any objection to Proceedings in such courts on the grounds of venue or
on the grounds that the Proceedings have been brought in an
inconvenient forum.
8.3 The Purchaser appoints Omega (UK) Limited of 000 Xxxxxx Xxxxxx, Xxxxxx
XX0X 0XX as its process agent to receive on its behalf service of
process for the Proceedings in England.
IN WITNESS whereof this Agreement has been executed the day and year first
before written.
SCHEDULE 1: DETAILS OF COMPANIES
-------------------------------------------------- -------------------------- ------------------------------------
Company Company Number Allocation of Purchase Price ((pound))
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Bearehill Limited 3320417 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Belmont Nursing Home Limited (The) 2704566 254,963
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Bewick Waverley Limited 3125868 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Caledonian Care Limited SC131800 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Caledonian Care (Turriff) Limited 3320451 Not Applicable
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Cedarhurst Lodge Limited 2983922/FC03205 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Chapelfield View Limited 3125856 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Chestnut Lodge Limited 2983917/FC03204 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Doulton Court Limited 3182910 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Dounemead Limited 3138896 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Edgewater Lodge Limited 3085604/FC03324 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Forebank Limited SC157072 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Xxxxxxx Court Limited 3230901 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Keslaw Limited 3182944 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Laudcare Limited 3245110 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Laurels Lodge Limited 3138898 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Leeland Limited 3215790 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Lisnisky Limited 2896335/FC03193 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Lodge Care PLC 2524759 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Lodge Care Services Limited 2894041 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Xxxxx House Limited 3230907 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Maldcare Limited 3245109 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Meadowvale Care Limited 3408575 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Continental 89 Limited SC175925 Not Applicable
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Xxxxxxx Limited 2983915/FC03199 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Ringdane Limited 3277059 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Rosevale Lodge Limited 3085602/FC03325 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Saintfield Limited 2983919/FC03198 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamaris (QCH) Limited 3328661 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
North East Pharmacies Limited 2868930 Not Applicable
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
St. Cuthberts Nursing Agency Limited 3231956 Not Applicable
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamaris (RAM) Limited 3690221 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamaris (Scotland) Limited SC145148 300,000
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Duncare Limited SC143116 Not Applicable
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamaris (South East) Limited 2896337 200,000
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamaris Care Properties Limited 3538492 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Atlas Healthcare Limited 3538441 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tameng Care Limited 3538499 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamscot Care Limited 3538455 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamulst Care Limited 3558522 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamcare Limited 3725605 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamhealth Limited 3655610 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tammillec Limited 3245111/FC03409 200,000
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamaris Management Services Limited 01621124 20,000
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Westview Lodge Limited 3065402 100,000
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Continental 92 Limited 3445911 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Tamaris (England) Limited 3445908 1
-------------------------------------------------- -------------------------- ------------------------------------
-------------------------------------------------- -------------------------- ------------------------------------
Xxxxxxx (Xxxxxx) Xxxxxxx XX 00000 1
-------------------------------------------------- -------------------------- ------------------------------------
SCHEDULE 2: DETAILS OF PROPERTIES
PART 1:
A: LEASEHOLD PROPERTIES:
LANDLORDS OTHER THAN PRINCIPAL HEALTHCARE FINANCE GROUP MEMBERS
Note T: Figure provided by Tamaris
------------ ---------- ----------------------------------- --------------- -------------- ------------ ---------------
Company Address of Details of Lease Current Rent Arrears of Rent Security Landlord
owning Lease Property and other Monies Interests
("Tenant") (Tamaris PLC: "Tamaris") (Annual) as at date of granted to ("Landlord")
this Agreement the Landlord
Date Parties Term
------------ ------------- --------- -------------- ---------- -------------- -------------- -------------- --------------
------------ ------------- --------- -------------- ---------- -------------- -------------- -------------- --------------
Tammillec Holywood Original (1) Atlantic 25 years (pound)925,000 (pound)231,250 Atlantic
Limited Nursing Home dated Healthcare from (all 5 (all 5 Healthcare
221 Old lease not Finance 31.12.1997 properties) properties) Finance Limited
Holywood seen Limited
Road
Holywood (2) Tammillec
Ltd
(3) Tamaris
Plc
------------------------------------------------------------------------------------------------------------------------------------
Tammillec Xxxx Xxxxxx Original (1) Atlantic 25 years As above As above Debenture Atlantic
Limited House dated Healthcare from 16.11.1998 Healthcare
Strangford lease not Finance 31.12.1997 Finance Limited
Road seen Limited
Downpatrick
County Down (2) Tammillec
Ltd
(3) Tamaris Plc
------------------------------------------------------------------------------------------------------------------------------------
Tammillec Jordanstown Original (1) Atlantic 25 years As above As above Debenture Atlantic
Limited Nursing dated Healthcare from 16.11.1998 Healthcare
Home lease not Finance 31.12.1997 Finance Limited
seen Limited
00 Xxx Xxxxx
Xxxx (2) Tammillec
Newtownabbey Ltd
(3) Tamaris
County Antrim Plc
------------------------------------------------------------------------------------------------------------------------------------
Tammillec Lecale Lodge Original (1) Atlantic 25 years As above As above Debenture Atlantic
Limited dated Healthcare from 16.11.1998 Healthcare
Stringford lease not Finance 31.12.1997 Finance Limited
Road seen Limited
Downpatrick
(2) Tammillec
County Down Ltd
(3) Tamaris
Plc
------------------------------------------------------------------------------------------------------------------------------------
Tammillec Stratheran Original (1) Atlantic 25 years As above As above Atlantic
Limited Court Care dated Healthcare from Healthcare
Centre lease not Finance 31.12.1997 Finance Limited
seen Limited
Belmont Road (2) Tammillec
Ltd
City & County (3) Tamaris
& Belfast Plc
------------------------------------------------------------------------------------------------------------------------------------
Dounemead The Xxxxxxx 03.03.1998 (1) Landlord 21 years (pound)170,500 9/99 Debenture Care Home
Limited Nursing from (pound)42,625 4.3.98 Properties
Home (2) Tenant 04.03.1998 T Standard Limited
[EXTENDED] Security ("CHP")
Huntly, Aberdeen (3) Tamaris 3.3.98
Xxxxxxxx Xxxx,
Xxxxxx
XX00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Dounemead Dounemount 03.03.1998 (1) Landlord 21 years (pound)105,050 9/99 Standard Care Home
Limited Nursing from (pound)26,263 Security Properties
Home, Manduff (2) Tenant 04.03.1998 T 3.3.98 Limited
[EXTENDED]
Xxxxxxxxx Xxxxxx (0) Xxxxxxx
Xxxxxxx
XX00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Dounemead Hall House 07.04.1999 (1) Landlord 25 years (pound)179,000 Q to 9/99 Standard Care Home
Limited Home, from (pound)44,750 Security Properties
Kilmarnock, (2) Tenant 31.03.1999 31.3.99 Limited
Ayr T
(3) Tamaris
00 Xxxx Xxxx
Xxxxxxx,
Xxxxxxxx
XX00 0XX
-----------------------------------------------------------------------------------------------------------------------------------
Ringdane Cameron House 2 26.01.1998 (1) Landlord 21 years (pound)112,200 Rent to 29/9/99 Debenture Carlton
Limited from Q to 6/99 28,000 00.00.00 Healthcare
Cameron Street (2) Tenant 25.12.1997 Q to 9/99 28,850 Properties
------ Limited
Xxxxx, Bury (3) Tamaris [EXTENDED] (pound)56,100 ("Carlton")
-------
XX0 0XX
------------------------------------------------------------------------------------------------------------------------------------
Ringdane Coventry 26.01.1998 (1) Landlord 21 years (pound)128,590 Rent Debenture Carlton
limited Beaumont from Q to 9/99
Nursing Home (2) Tenant 25.12.1997 (pound)32,147.50 31.03.98
[EXTENDED]
Conventry (3) Xxxxxxx
XX0 0XX
------------------------------------------------------------------------------------------------------------------------------------
Ringdane Dane House 26.01.1998 (1) Landlord 21 years (pound)141,350 Q to 0/00 Xxxxxxxxx Xxxxxxx
Xxxxxxx Xxxxxxxx from (pound)35,337.50
Nursing Home (2) Tenant 25.12.1997 31.03.98
[EXTENDED] Q to 9/99
00 Xxxx Xxxx (3) Tamaris (pound)35,337.50
Xxxxxxxx
XX0 0XX
------------------------------------------------------------------------------------------------------------------------------------
Ringdane Havencourt 31.05.1999 (1) Landlord 29 years 11 (pound)176,300 Q to 6/99 Standard Carlton
Limited Nursing months from Security
Home, (2) Tenant 17.5.1999 and 15.05.99
Stonehaven (3) Tamaris Q to 9/99
AB39 22H (pound)62,912
(in total)
------------------------------------------------------------------------------------------------------------------------------------
Ringdane Ringshill 26.01.1998 (1) Landlord 21 years (pound)277,530 Q to 6/99 Debenture Carlton
Limited from (pound)69,382.50
Nursing (2) Tenant 12.12.1997 31.03.98
Q to 9/99
Home Sallowbush Road (3) Tamaris [EXTENDED] (pound)69,382.50
Xxxxxxxxxx
XX00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Ringdane South Bebside 26.01.1998 (1) Landlord 21 years (pound)78,100 Q to 6/99 Debenture Carlton
Limited Nursing Home from (pound)19,525.00
Patterdale Road (2) Tenant 25.12.1997 31.03.98
Blyth NE 24 5JU [EXTENDED] Q to 9/99
(3) Tamaris (pound)19,525.00
------------------------------------------------------------------------------------------------------------------------------------
Ringdane South Park I and 26.01.1998 (1) Landlord 21 years (pound)281,600 Q to 6/99 Debenture Carlton
Limited from (pound)70,400
South Park II (2) Tenant 25.12.1997 Q to 9/99 31.03.98
(pound)70,400
Nursing Homes (3) Tamaris [EXTENDED]
Xxxx Xxxx, Xxxxx, York
------------------------------------------------------------------------------------------------------------------------------------
Ringdane South Quay I and 26.01.1998 (1) Landlord 21 years (pound)190,630 Q to 6/99 Debenture Carlton
Limited from (pound)47,657.50 31.03.98
South Quay II (2) Tenant 25.12.1997
Q to 9/99
Nursing Homes (3) Tamaris [EXTENDED] (pound)47,657.50
Xxxxxx Xxxx, Xxxxx
XX00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Meadowvale Meadowvale 14.04.1999 (1) Landlord 10.03.1999 (pound)173,250 9/99 Standard Healthcare
Care Nursing to (pound)43,312.50 Security
Limited Home Bathgate West (2) Tenant 28.09.2033 08.03.1999 Holdings
Lothian Limited
(3) Xxxxxxx ("XX")
XX00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Flowerdown 08.12.1998 (1) Healthcare 08.12.1998 - (pound)145,425 9/99 Supplemental HH
Limited Nursing Home, Holdings Ltd 30.11.2033 (pound)36,356.25 Legal Charge
Xxxxxxxxxx Road To be 08.12.1998
(2) Tamhealth Ltd increased
Winchester when advance
XX00 0XX (3) Tamaris Plc made for
extension of
(pound)900,000 by
(pound)94,500 pm.
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Rosemount 23.04.1999 (1) Landlord 11.12.1998 (pound)173,250 9/99 Standard HH
Limited to (pound)43,313 Security
Nursing Home, (2) Tenant 30.11.2033 03.02.99
Perth Road,
(3) Xxxxxxx
Xxxxx Gowrie
Perthshire
PH10 6PY
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Garioch Nursing 15.04.1999 (1) Landlord 23.12.1998 (pound)173,250 9/99 Standard HH
Limited Home Commercial to (pound)43,313 Security
Road, (2) Tenant 30.11.2033 03.02.99
Inverurie, Aberdeen
(3) Tamaris
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Xxxxxxxx House (1) Landlord 9.12.1999 (pound 330,750) 9/99 Supplemental HH
Limited Gampien Way to (pound)122,062.50 Legal Charge
Bearsden (2) Tenant 30.11.2033 8.12.1998
Glasgow Xxxxxxxx Xxxxxxxx Xxxxxxxxx
X00 0XX (3) Tamaris Lodge 24.12.1998
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Xxxxxxxx Nursery, (1) Landlord (pound)1 HH
Limited Grampien Way,
Bearsden (2) Tenant
(3) Tamaris
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Xxxxxxxx Lodge, (1) Landlord 9.12.1999 to (pound)157,500 As above HH
Limited Grampien Way, 30.11.2033
Bearsden (2) Xxxxxx
X00 0XX
(3) Tamaris
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Gosmore Nursing 18.01.1999 (1) Landlord 18.01.1999 to (pound)271,950 9/99 Supplemental HH
Limited Home 30.11.2033 (pound)67,987.50 Legal Charge
Hitxhin Road, (2) Tenant 18.01.1999
Gosmore SG4 QN
(3) Tamaris
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Highfield Nursing 18.01.1999 (1) Landlord 18.01.1998 to (pound)211,050 9/99 Supplemental HH
Limited Care Centre 30. 11.2033 (pound)52,763 Legal Charge
(2) Tenant 18.01.1999
00-00 Xxx Xxxx
(3) Xxxxxxx
Xxxx
SG1 9N2
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Xxxxxx Valence 18.01.1999 (1) Landlord 18.01.1999 to (pound)231,000 9/99 Supplemental HH
Limited Nursing Home, 30.11.2033 (pound)57,750 Legal Charges
Warmlake, North (2) Xxxxxx 00.00.0000
Xxxxxx, Xxxxxx Xxxxxxx
XX00 0XX (3) Tamaris 08.03.1999
------------------------------------------------------------------------------------------------------------------------------------
Tamhealth Woodside House, 15.04.1999 (1) Landlord 23.12.1998 to (pound)115,500 9/99 Standard HH
Limited Xxxxxxx, 30.11.2033 (pound)28,875 Security
Aberdeen (2) Tenant 03.02.1999
XX00 0XX
(3) Tamaris
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Dormy Nursing & 20.03.1997 (1) Landlord 21 years from (pound)258,500 9/99 Debenture IHP
(South 29.09.1996 (pound)64,625 20.03.1997 Limited
East) Residential Home, (2) Tenant ("IHP")
Limited Ridge Mount Road [EXTENDED]
(3) Xxxxxxx
Xxxxxxxxxxx,
Xxxxxxxxx
XX0 0XX
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Lydfords Nursing 20.03.1997 (1) Landlord 21 years from (pound)198,000 (pound)49,500 Debenture IHP
(South Home, 29.09.1996 9/99 20.03.1997
East) 00 Xxxx Xx, Xxxx (2) Tenant
Limited [EXTENDED]
Hoathly, Wealden E. (3) Tamaris
Sussex
BN8 6DR
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Bearehill Nursing Undated (1) IHP Limited 21 years from (pound)185,350 (pound)46,337.50 ? IHP
(South Home 17.06.1997 9/99
East) Bearehill (2) Bearehill
Limited Breclan, Angus Limited [EXTENDED]
? 00 Xxxxxx Xxxxxx ?
Brechin Dundee (3) Xxxxxxx Xxx
XX0 0XX
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Lakeside Gardens 04.12.1996 (1) IHP Limited 21 years from (pound)200,040 (pound)50,010 Debenture IHP
(South Nursing Home (2) Torrcare Ltd 29.09.1996 9/99 31.03.1998
East) Station Road (3) Tamaris Plc
Limited Washington [EXTENDED]
Xxxxxxxxxx
XX00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Laurels Lodge 02.09.1997 (1) Landlord 21 years from (pound)192,500 (pound)48,125 Standard IHP
(South Nursing and (2) Tenant 03.09.1996 9/99 Security
East) Residential Home, (3) Tamaris 30.10.1997
Limited Xxxxxxx Xxxx, [XXXXXXXX]
Xxxxxxxx, Xxxxxxxx
XX00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Pear Tree 20.03.1997 (1) Landlord 21 years (pound)264,000 (pound)66,000 IHP
(South Residential (2) Xxxx Pear from 9/99
East) Nursing Home Limited 29.09.96 T
Limited 00 Xxxxxx Xxxx (3) Tamaris [EXTENDED]
Xxxxxxxxx
X00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Xxxxxxx Xxxx Wyld 20.03.1997 (1) Landlord 21 years (pound)385,000 (pound)96,250 IHP
(South Nursing Home, (2) Xxxx Pear from 9/99
East) 000 Xxxxxx Xxxx, Limited 29.09.1996 T
Limited Walthamstow (3) Tamaris [EXTENDED]
X00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Xxxxxxx Xxxxxxx Nursing o (1) Landlord 21 years (pound)201,300 (pound)50,325 IHP
(South and Residential from 9/99
East) Home (2) Continental 25.03.1977 T T
Limited AB53 4DD Shelf 76 [EXTENDED]
Limited (now
called Caledonian
Care (Turriff)
Limited)
------------------------------------------------------------------------------------------------------------------------------------
Belmont The Belmont 20.03.1997 (1) Landlord 21 years (pound)363,000 (pound)90,750 Debenture IHP
Nursing Nursing Home (2) Tenant from 9/99 20.03.1997
Home Limited, (3) Tamaris 29.09.1996 T
Limited 93 Pevensey [EXTENDED]
(The) Xxx Xxxx,
Xxxxxxxxxx,
Xxxx Xxxxxx
XX00 0XX
------------------------------------------------------------------------------------------------------------------------------------
Chestnut Chestnut Lodge 06.02.1995 (1) Nursing Home 25 years (pound)124,200 None NHPS 1
Lodge Nursing Home, Properties PLC from
Limited 00 Xxxxxxxxxxxx 00.00.0000
Xxxx, Xxxxxxx, (2) Tenant
Co. Xxxxxx
------------------------------------------------------------------------------------------------------------------------------------
Saintfield Saintfield Lodge 06.02.1995 (1) Nursing Home 25 years (pound)176,256 None Rent Deposit NHPS 1
Limited Nursing Properties PLC from 06.02.1995
Home 06.02.1995 T
(2) Tenant Mortgage
Debenture
06.02.1995
------------------------------------------------------------------------------------------------------------------------------------
Lisnisky Lisnisky Nursing o (1) Nursing Home 25 years pound)210,996 None NHPS 1
Limited Home, Properties PLC
00 Xxxxxxxx Xxxx, X
Xxxxxxxxx, Xx. (2) Tamaris (Ulster)
Armagh Limited
------------------------------------------------------------------------------------------------------------------------------------
Edgewater Edgewater Lodge 27.03.1997 (1) Landlord 25 years (pound)257,796 None Mortgage NHPS 1
Lodge Nursing Home, (2) Tenant from Debenture
Limited 0 Xxxxxxxxx Xxxxxx, (3) Tamaris 27.03.1997 T 27.03.1997
Millisle Road,
Bonaghade, County
Down
-----------------------------------------------------------------------------------------------------------------------------------
West West View Lodge 27.03.1997 (1) Landlord 25 years from None NHPS 1
View (2) Tenant 27.03.1997
Lodge
Limited (3) Tamaris
------------------------------------------------------------------------------------------------------------------------------------
West West View House 22.04.1999 (1) Landlord 22.04.1999 to None NHPS 3
View (2) Tenant 27.03.2022
Lodge (3) Tamaris
Limited
------------------------------------------------------------------------------------------------------------------------------------
Rosevale Rosevale Lodge, 27.03.1997 (1) Landlord 25 years from None NHPS 1
Limited 000 Xxxxx Xxxx (2) Tenant 27.03.1997
Lisburn (3) Tamaris
Co. Antrim
------------------------------------------------------------------------------------------------------------------------------------
Cedarhurst Cedarhurst Lodge 06.02.1995 (1) Nursing Home 25 years (pound)238,500 None Mortgage NHP Plc
Lodge Nursing Home, Properties PLc from Debenture
Limited Cederhurst Road, 06.02.1995 T 06.02.1995
Belfast (2) Tenant
Rent Deposit
Deed 06.02.1995
------------------------------------------------------------------------------------------------------------------------------------
Laudcare Xxxxxxxxx 04.10.1996 (1) NHP Securities 25 years (pound)246,240 None Debenture NHP
Limited Nursing Home from 04.12.1996 Securities
Durder Road (2) Landcare 04.10.1996 T
Carlisle Cumbria Limited
------------------------------------------------------------------------------------------------------------------------------------
Laudcare Millbrow Nursing 22.01.1996 (1) NHP Plc 25 years (pound)167,400 None NHP
Limited Home from Securities
Widness (2) Speciality 01.01.1996 T Number 3
Care UK Limited
Lease Homes Ltd ("NHPS3" )
(3) Speciality Care
Plc
------------------------------------------------------------------------------------------------------------------------------------
Laudcare Stanton Lodge 31.07.1995 (1) NHP Securities 25 years (pound)248,400 None NHPS 1
Limited Nursing & Ltd from
Residential Home (2) Maldcare Ltd 27.03.1997
Shiremoor
Newcastle Upon Tyne
------------------------------------------------------------------------------------------------------------------------------------
Laudcare Xxxxxxxxxx 19.12.1996 (1) NHP Securities 25 years (pound)162,000 None NHP
Limited Nursing Home No 1 from Securities
Boston, 04.10.1996 Plc
Lincolnshire (2) Speciality Care
UK Lease Homes Ltd
(3) Speciality Care
Plc
------------------------------------------------------------------------------------------------------------------------------------
Laudcare Avonmead 13.02.1998 (1) NHP Securities 25 years (pound)171,315 None Mortgage NHPS3
Limited Nursing Home Number 4 from Debenture
10.02.1998 28.05.1999
(2) Loughbray Ltd
(3) Arcadia Healthcare
------------------------------------------------------------------------------------------------------------------------------------
Laudcare Kingsmead 13.02.1998 (1) Landlord 25 years (pound)163,260 None NHPS3
Limited Nursing from
Home, (2) Loughbray 10.02.1998 T
Prospect Place, Limited
Old Town Swindon (3) Arcadia
Healthcare PLC
------------------------------------------------------------------------------------------------------------------------------------
Laudcare Ladymead 13.02.1998 (1) Landlord 25 years (pound)159,840 None Mortgage NHPS 3
Limited Nursing Home from Debenture
Moormead Road, (2) Loughbray 10.02.1998 28.05.1999
Wroughton, Limited
Swindon (3) Arcadia
Healthcare Plc
------------------------------------------------------------------------------------------------------------------------------------
Laudcare Oak Tree 17.06.1998 (1) Employagent Ltd 25 years (pound)267,840 None Debenture NHPS3
Limited House Area 14, from 30.07.1999
Brisham Park, Yate, (2) Loughbray Ltd 17.06.1998
Bristol Avon
(3) Arcadia
Healthcare Plc
------------------------------------------------------------------------------------------------------------------------------------
Laudcare Stanshawes 19.12.1996 (1) Landlord 25 years (pound)165,900 None NHPS 1
Limited Nursing Home from
11 Standshares (2) Loughbray 19.12.1996
Drive Limited
Bristol, Avon
(3) Arcadia
Healthcare Plc
------------------------------------------------------------------------------------------------------------------------------------
Xxxxxxx Xxxxxxx 06.02.1995 (1) Nursing Home 25 years (pound)108,000 None Debenture NHP Plc
Limited Nursing Home, Properties Plc from 06.02.1995
00 Xxxxxxx Xxxx 00.00.0000
Xxxxxxx (2) Tenant
------------------------------------------------------------------------------------------------------------------------------------
Forebank Forebank
Limited
------------------------------------------------------------------------------------------------------------------------------------
Lodge Appointed Manager of 2
Care Doulton Court Homes,
PLC Kestrel & Lawn Park
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Ballieston (pound)245,004 (pound)1,595 GCP
(RAM) Nominees
Limited T T Limited ("GCP")
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Benholm (pound)120,000 (pound)746 GCP
(RAM)
Limited
T T
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Bracknell 14.09.1999 (1) MM&S (2538) 30 years (pound)99,996 (pound)808 Charge GCP
(RAM) Ltd from 14.09.1999
Limited (2) Tenant 04.09.1999 T
(3) Tamaris Plc
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Cardonald (pound)110,009 (pound)817 GCP
(RAM)
Limited T T
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Cumberland (pound)300,000 (pound)1563 GCP
(RAM)
Limited
T T
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Montrose 10.09.1999 (1) MM&S (2538) 30 years (pound)69,996 (pound)757 Charge GCP
(RAM) Ltd from 14.09.1999
Limited (2) Tenant 14.09.1999 T T
(3) Tamaris Plc
------------------------------------------------------------------------------------------------------------------------------------
Tamaris Stobhill (pound)234,996 (pound)1592 GCP
(RAM)
Limited
T T
------------------------------------------------------------------------------------------------------------------------------------
Tamscot Beach Court 04.05.1999 (1) Landlord 25 years (pound)165,000 (pound)41,250 Care Home
Care Nursing Home, from Properties
Limited Constition Street, (2) Tenant 31.03.1999
Aberdeen
(3) Tamaris
------------------------------------------------------------------------------------------------------------------------------------
Tameng St. Catherine's 24.06.1998 (1) Landlord 25 years (pound)170,000 Tamaris Care
Care Nursing Home, from Properties
Limited Queen Street, (2) Tenant 24.06.199 Limited
Harwich, Xxxxxx
(3) Tamaris
------------------------------------------------------------------------------------------------------------------------------------
Caledonian Xxxxxxxxxx
Care Merithelp Limited
Limited Murieston,
Livingston
------------------------------------------------------------------------------------------------------------------------------------
B: LEASEHOLD PROPERTIES
PRINCIPAL HEALTHCARE FINANCE GROUP LANDLORDS
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Lessor Company owning Lease ("Tenant") Property Landlord (Landlord)
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Chapelfield View Limited Chapel View PHF Securities No.1 Limited
Field View ("PHFS1")
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Bewick Waverley Limited Bewick PHFS1
Waverley
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Duncare Limited Camperdown PHFS1
Rosebank
Tullideph
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Xxxxxxx Court Limited Xxxxxxx Court PHFS1
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Doulton Court Limited Doulton Court-Xxxxxx PHFS1
Doulton Court-Skegness
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Keslaw Limited Xxxxxxx Xxxxx XXXX0
Lawn Park
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Leeland Limited Oaklands PHFS1
Woodlea
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Maldcare Limited Xxxxxxx Xxxxx PHF Securities No.2 Limited
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Tamulst Care Limited Hawthorn PHF Securities No.3 Limited
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Atlas Healthcare Limited The Arc PHF Leasing Property Limited
Xxxxxxxx
-------------- ----------------------------------- ---------------------------------- ----------------------------------
Tamaris (QCH) Limited Xxxxxxx Xxxxx PHF Leasing Property Limited
Bannatyne Lodge
Barrington Lodge
Beauley Lodge
Brampton Court
Xxxxxxx Xxxxx
Brydan Court
Burlam Road
Byker Hall
Chasedale
Eastbourne
Xxxxxxx Xxxx
Harbour View
Xxxxxxxxxx Grange
Xxxxxx Xxxx
Xxxxxx Xxxx
Highstone Xxxx
Xxxxxxxx Court
Xxx Xxxxx Court
Maple Lodge
Marton Road
Northlea Court
Norton Court
Norton Glades
Peterlee
Regents View
Riverside Court
Roseworth
Rydal
Springfield
Swan Lodge
The Laurels
The Mews
Victoria Lodge
Xxxxxx Lodge
Warrior Park
Xxxxxxxx
-------------- ----------------------------------- -------------------------------- ----------------------------------
PART 2: FREEHOLD PROPERTIES
---------------------------- ----------------------------- ---------------------------------
Address Company Owning Security Interest
---------------------------- ----------------------------- ---------------------------------
---------------------------- ----------------------------- ---------------------------------
St. Catherines Tamaris Care Properties Charge to Barclays Bank Plc
Limited
---------------------------- ----------------------------- ---------------------------------
---------------------------- ----------------------------- ---------------------------------
Xxxxx House Xxxxx House Limited Charge to Barclays Bank Plc
---------------------------- ----------------------------- ---------------------------------
SCHEDULE 3: COMPLETION ARRANGEMENTS
1. Seller's obligations
On Completion, the Seller shall:-
(A) deliver or procure the delivery to the Purchaser of :-
(1) duly executed transfers of the Sale Shares by the
registered holders thereof in favour of the Purchaser
or its nominee(s) together with the related share
certificates;
(2) such waivers or consents as the Purchaser may require to
enable the Purchaser or its nominee(s) to be registered
as holder(s) of the Sale Shares; and
(3) the Deeds of Release;
(B) procure that each of the directors and secretary of each of
the Companies shall (unless otherwise specified by the
Purchaser) retire from all their respective offices and
execute and deliver to the Purchaser a deed (in the Agreed
Form) made out in favour of the relevant Company acknowledging
that following such loss of office such director or secretary
has no claim outstanding for compensation, indemnity or
otherwise and without any payment under the Employment
Protection (Consolidation) Act 1978 (as amended);
(C) deliver to the Purchaser as agent for the Companies:-
(1) all statutory and other books (duly written up to
Completion) of each of the Companies and their
Certificate of Incorporation, and common seal;
(2) the original leases (and all other title deeds) to each of
the Properties in the possession and/or which are
available to the Purchaser (or where these are not
available, an undertaking from the holder that (subject only
to any such Encumbrances as are referred to in Clause
5.1) he/it is holding the same to the unconditional
order of the relevant Company free from all liens and/or
other Encumbrances); and
(3) a deed duly executed by the Seller and each other
member of the Seller's Retained Group in the Agreed
Form confirming that with effect from Completion there
is no indebtedness or other obligations or liabilities
owed by any of the Companies to the Seller and/or each
other such member of the Seller's Retained Group on any
account whatsoever;
(D) procure a board meeting of each of the Companies to be held
at which there shall be:-
(1) passed a resolution to register a transfer of the Sale
Shares (subject only to due stamping) and to register,
in the Register of Members, each transferee as the
holder of the shares concerned;
(2) appointed as directors and/or secretary of each of the
Companies such persons as the Purchaser may nominate,
such appointments to take effect upon Completion;
(3) tendered the resignations and acknowledgements of the
directors and secretary referred to in sub-paragraph (B)
above; and
(4) changed the situation of the registered office and (subject
to the Companies Act 1985) the accounting reference date,
each as the Purchaser may direct and deliver certified
copies of the relevant board minutes to the Purchaser;
(E) deliver to the Purchaser a certified copy extract (in the
Agreed Form) from the board minutes of the Seller approving
and authorising the entry into by the Seller of this
Agreement;
(F) subject to the satisfaction of the Purchaser's obligation
under paragraph 2(D) below, procure the registration as soon
as reasonably practicable of the Tamaris Shares in the name of
the Seller's Nominee and deliver to the Purchaser as soon as
reasonably practicable a certified copy extract of the
Seller's Nominee's register of members evidencing the same and
a certified copy of a declaration of trust (in a form
reasonably acceptable to the Purchaser) duly executed by the
Seller to the effect that the Seller's Nominee holds the
Tamaris Shares on trust for all the members of the Seller
other than the Purchaser [and its subsidiaries];
(G) deliver to the Purchaser an acknowledgement by the Seller
and each other member of the Seller's Retained Group:
(i) that none of them has any beneficial interest in
or right in respect of any rent deposits
(whether or not referred to in Schedule 2) held
by or on behalf of landlords in relation to the
Properties; and
(ii) that to the extent that any of them hold
documents of title or original documents
relating to the Properties, or they have
rights of control over the same, they
hold such documents and rights on trust
for the Companies and free of all liens;
and
(H) assist the Purchaser in revoking all existing authorities of
the Companies to banks and the giving of new authorities to
them as the Purchaser may direct.
2. Purchaser's obligations
-----------------------
On Completion the Purchaser shall:-
(A) procure the payment to Barclays Bank plc on behalf of the
Seller of the sum of(pound)1,060,312.50 less the Retention;
(B) subject to the delivery of Memery Crystal's invoice to the
Purchaser, procure the payment to Xxxxxx Xxxxxxx on behalf of
the Seller of the sum of (pound)14,687.50;
(C) procure the payment to Barclays Bank plc of the sum of
(pound)1,250,000 by way of security for the guarantee to be
issued by Idun to Barclays Bank plc; and
(D) deliver to the Seller's Nominee a duly executed share transfer
(together with the related share certificates or an indemnity
in lieu thereof) for the Tamaris Shares.
Any payment required to be or procured to be made by the Purchaser
shall be by bankers draft or wire transfer of immediately available
funds and payment of the same to Barclays Bank plc or Xxxxxx Xxxxxxx
(as the case may be) shall constitute a complete discharge to the
Purchaser.
EXECUTED by )
Tamaris plc acting by the )
following duly authorised directors: )
/s/ XXXXXX XXXXXX
......................................................
Director
/s/ XXXXXXX-XXX XXXXXXX
........................................................
Director
EXECUTED on behalf of )
OMEGA WORLDWIDE, INC )
by XXXXX X. XXXXXXXX ) /s/ XXXXX X. XXXXXXXX
being a person who in )
accordance with the )
laws of its jurisdiction of )
incorporation is acting under )
the authority of the company )
