A distribution plan is a document prepared by the Joint Special Administrators detailing how funds will be returned to customers with a successful claim as quickly and efficiently as possible within the rules laid down by the relevant legislation. To become effective, it needs to be approved by, first, the Creditors’ Committee and, secondly, the Court.

The distribution plan includes information in relation to:

• when and how the Joint Special Administrators plan to return funds to customers with a successful claim;
• how the costs of this process are to be met; and
• how unclaimed distributions will be handled.

A Hard Bar Date is the final date on which the Administrators can receive a claim from a customer.

As set out in the Explanatory Statement, the Joint Special Administrators anticipate setting a Hard Bar Date by no later than August 2025.

All customers will be notified at least four weeks prior to the Hard Bar Date being set by the Joint Special Administrators. However, customers are encouraged to complete and return their Customer Claim Form as soon as possible. There is no need to wait for the Hard Bar Date.

A Failed Payment Transaction is a payment transaction where the Company received funds from a customer (or someone else on their behalf) to carry out a payment transaction which was not processed prior to the Company entering into special administration on 18 June 2024.

A Failed Payment Transaction consists of the following:

• Funds the Company received to make a payment transaction (i.e. the sending value) which was not processed before the Company entered special administration (‘Relevant Funds Claim’); and
• Transaction fees associated or paid in connection with a payment transaction which was not processed (‘Unsecured Fees Claim’)

A Customer Claim Form is a document a customer must use to submit details of their claim in the special administration. It is required to record your claim.

If you believe you have a claim, you will need to compete and return a Customer Claim Form, attaching any supporting documentation (as specified in the Customer Claim Form), to the Joint Special Administrators on or before the Hard Bar Date.

You can submit your completed Customer Claim Form and any supporting documentation by either:

1. Emailing it to smallworlduk@uk.gt.com by no later than 5:00pm on the Hard Bar Date; or
2. Posting it to LCC Trans-Sending Limited (In Special Administration), C/O Grant Thornton UK LLP, 11th Floor, Landmark, St Peter’s Square, 1 Oxford St, Manchester, M1 4PB.

Customer Claim Forms must be completed and received before the Hard Bar Date in order to be eligible to receive any distribution of funds.

A Hard Bar Date is yet to be set, however, the Joint Special Administrators anticipate they will set a Hard Bar Date by no later than August 2025.

Customers are encouraged to complete and return their Customer Claim Form as soon as possible. There is no need to wait for the Hard Bar Date.

What should I do if I have a question in relation to my Customer Claim Form?

Should you have any queries in relation to your Customer Claim Form, please contact the Small World Customer Service team at smallworlduk@uk.gt.com or on 020 3198 0387.

The exact timing of a distribution remains uncertain. However, the Joint Special Administrators’ application to approve the Distribution Plan and the setting of a Hard Bar Date in accordance with the terms of the Distribution Plan will be heard on 13 March 2025, meaning a distribution to customers with a successful claim may take place by mid-Autumn 2025.

Please be aware, if your claim is successful (either in whole or in part), the payment you receive is likely to be less than the amount your claim is admitted for. This is because costs associated with returning funds to customers with a successful claim will be deducted from the money available to be distributed, as provided for in relevant legislation.

Further information in relation to such costs and the funds available for distribution to customers will be shared with you as soon as possible.

Should you have any queries in relation to this letter or general queries in respect of the special administration of the Company, please contact the Small World Customer Service team at smallworlduk@uk.gt.com or on 020 3198 0387.