Keydata Investment Services Limited (in administration) ("KIS")

This is an update produced on 16 July and supplements (or, as appropriate, supersedes) the other questions and answers documents on this website.

Questions and answers - 16/07/09

Early redemptions of Keydata products invested in SLS Capital S.A. ("SLS") or in Lifemark S.A. ("Lifemark") have been suspended since the appointment of administrators on 8 June 2009.  What is the position regarding early redemptions that were requested prior to that date?

Prior to our appointment on 8 June 2009 early redemptions of some products invested in SLS or in Lifemark were not effected during May 2009 despite correspondence being sent out by KIS advising of forthcoming May early redemption dates.  For the avoidance of doubt unless investors who requested early redemptions have already received their payment and the payment has cleared their bank, there are no early redemptions being processed on any SLS or Lifemark products.  Investors should be aware that it is possible that early redemptions on these products may remain suspended indefinitely. Events prior to the administrators' appointment continue to be investigated.

Dan Schwarzmann and Mark Batten were appointed as joint administrators of Keydata Investment Services Limited on 8 June 2009 to manage its affairs, business and property as agents without personal liability. Dan Schwarzmann and Mark Batten are licensed to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.