DEED OF RELEASE

THIS DEED is made on 28 January 2023

Between:-

(1) PARTY_1_NAME whose registered office is at PARTY_1_ADDRESS_SINGLE_LINE (the Seller);

(2) PARTY_2_NAME whose registered office is at PARTY_2_ADDRESS_SINGLE_LINE (the Chargor); and

(3) PARTY_3_NAME  whose registered office is at PARTY_3_ADDRESS_SINGLE_LINE (the Chargee).

Whereas:

(A) This Deed is supplemental to TRUST dated DATE (the Trust Deed) made between (inter alia) the Seller and the Chargee by which are currently constituted and secured Details of the Debenture Stock (the Existing Stocks) of the Seller.

(B) The Chargor under or pursuant to the provisions of the Trust Deed has given a first floating charge in favour of the Chargee upon its undertaking and all its property and assets both present and future wheresoever situate (including any uncalled capital) as collateral security for the payment to the Chargee of the principal amount of the Existing Stocks and interest thereon and all other moneys intended to be secured by the Trust Deed.

(C) The whole of the issued share capital of the Chargor is beneficially owned by the Seller and the Chargor is a Subsidiary within the meaning of the Trust Deed. The Seller now proposes to sell the whole of the issued share capital of the Chargor.

(D) Pursuant to the Trust Deed the Chargee has consented to the proposed sale and to the release of the charge given in its favour by the Chargor and the Seller has requested the Chargee to enter into this Deed for the purpose hereinafter expressed.

Now this deed witnesses as follows:

1. The Chargee hereby:

(a) releases and discharges the Chargor from any and all liability in respect of the principal amount of the Existing Stocks and interest thereon and all other moneys intended to be secured by the Trust Deed;

(b) releases and absolves the Chargor from all further liability under and compliance with any of the covenants, terms and provisions of the Trust Deed; and







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