In the HIGH COURT OF JUSTICE, BUSINESS AND PROPERTY COURTS OF ENGLAND & WALES, COMPANY AND INSOLVENCY LIST (CH. D.)

Court Number: CR-2023-001722

IN THE MATTER OF

WEALTHTEK LIMITED LIABILITY PARTNERSHIP

(Company Number OC355200)

IN THE MATTER OF THE INVESTMENT BANK SPECIAL ADMINISTRATION REGULATIONS 2011

UNDER REGULATIONS 11, 12A AND 12E OF THE INVESTMENT BANK SPECIAL ADMINISTRATION REGULATION 2011

AND

RULE 138 OF THE INVESTMENT BANK SPECIAL ADMINISTRATION (ENGLAND AND WALES) RULES 2011

Shane Crooks, Mark Shaw and Emma Sayers of BDO LLP, 55 Baker Street, London W1U 7EU were appointed Joint Special Administrators ("JSAs") of WealthTek LLP (in investment bank special administration), with LLP number OC355200 ("WealthTek"), on 6 April 2023 pursuant to an application made by the Financial Conduct Authority ("FCA") under Regulation 5(1)(h) of the Investment Bank Special Administration Regulations 2011 ("Regulations").

The JSAs hereby give notice as follows:

1. The JSAs consider it necessary, in order to expedite the return of Client Assets and Client Money, to set a bar date of 17:00 hours (GMT) on 20 March 2024 (the "Bar Date"), for the submission of:

a. claims to the beneficial ownership, or other form of ownership, of Client Assets;

b. claims of persons in relation to a security interest asserted over, or other entitlement to, those Client Assets (a "Security Interest Claim"); or

c. claims to Client Money,

as set out in Regulations 11(1)(a) and (b) and 12A(1), respectively, of the Regulations.

2. Contingent or disputed claims are included within the claims described above.

3. The Bar Date represents the deadline by which:

a. each client is required to complete and submit to the JSAs their Client Assets Claim Form (or otherwise submit their claim(s)) to submit their Client Assets and Client Money claim(s), in accordance with the instructions contained in their Client Assets Statement;

b. any party asserting a Security Interest Claim is required to submit details of its claim to the JSAs; and

c. any party asserting a security interest over, or other entitlement to, Client Money is required to submit details of its claim to the JSAs (a "Client Money Security Interest Claim").

4. The JSAs gave notice in the London Gazette on 17 April 2023 that WealthTek was put into special administration. The JSAs consider that the time between the notice of the special administration being published, and the Bar Date is a reasonable amount of time for clients to calculate and submit their claims.

5. Client Assets Statements were issued to all known clients on 12 February 2024, containing instructions as to how to submit Client Assets and Client Money claims.

6. The purpose of the Bar Date is to allow the JSAs to commence the processes for returning Client Assets to the clients of WealthTek, in accordance with the terms of a Distribution Plan, and distributing Client Money to the clients of WealthTek. Details of the Distribution Plan will be made available by the JSAs in due course.

7. This notice will be:

a. sent to all clients of WealthTek, claiming beneficial ownership, or other form of ownership, of the Client Assets and Client Money that the JSAs are aware of and have a means of contacting;

b. sent to any party whom the JSAs believe has a Security Interest Claim and that the JSAs have a means of contacting;

c. placed in the London Gazette;

d. posted on each individual client`s portal;

e. placed on the dedicated WealthTek webpage of the BDO LLP website at https://www.bdo.co.uk/en-gb/insights/advisory/business-restructuring/wealthtek-administration;

f. posted on the IPS Creditor Portal;

g. advertised in the following newspapers: The Chronicle (Newcastle) and the Hull Daily Mail;

h. sent to the FCA; and

i. sent to the Financial Services Compensation Scheme ("FSCS");

8. A person submitting a claim to Client Assets, a Security Interest Claim, a claim to Client Money and/or a Client Money Security Interest Claim must do so in writing to the JSAs. In the case of Client Assets and Client Money, the Client Assets Statements issued to all known clients on 12 February 2024 include instructions as to how to submit such claims.

9. A person who believes they have a claim to Client Assets, a Security Interest Claim, a claim to Client Money and/or a Client Money Security Interest Claim, should submit details of their claim, in advance of the Bar Date, in accordance with the instructions provided to them.

10. Following the Bar Date, (i) those clients who have had their respective assets returned through the Distribution Plan (with the approval of the Court), will have acquired good title to those assets and there shall be no disruption to those assets that have already been returned and (ii) no payment or part of any payment of Client Money made by the JSAs may be recovered for the purpose of meeting a late claim.

11. Unless otherwise ordered by the Court, every client who submits a claim to Client Assets, a Security Interest Claim, a claim to Client Money and/or a Client Money Security Interest Claim must bear the cost of making its own claim, including but not limited to, providing additional documentation, or supporting evidence.

12. Any general queries in relation to the notice should be directed to the JSAs by email at Wealthtekclients@bdo.co.uk, by telephone at +44(0)151 351 4700 or +44(0)113 521 4470, or in writing to WealthTek LLP (in investment bank special administration), c/o BDO LLP, 5 Temple Square, Temple Street, Liverpool L2 5RH.

13. Specific advice relating to the scope and effects of the notice, should be directed to your own legal or professional adviser.

Shane Crooks, Mark Shaw and Emma Sayers (JSAs of WealthTek).

The JSAs act as agents of WealthTek without personal liability.

12 February 2024.