BRUUN & HJEJLE

ANDERSEN I PARTNERS

Our ref. 31064S-3-AHJ

CREDITOR INFORMATION CIRCULAR NO.2 Report pursuant to section 125(1) of the Danish Insolvency Act

Bankruptcy Court's reference no.:

Name:

Registered address:

Business reg. no.:

Reference date:

Date of bankruptcy order:

Trustee:

Kolding Copenhagen Odense Hamburg

SKS 521-489/2016 - The Bankruptcy Court in Odense

Bios Ambulance Services Danmark A/S under konkurs (in

bankruptcy)

Blangstedgaardsvej 8, DK-5220 Odense Sø

35815619

25 July 2016

27 July 2016

Lawyer Henrik Selchau Poulsen, Bruun & Hjejle

Lawyer Jan Bruun Jørgensen, Andersen Partners

In continuation of creditor information circular no. l, we, the trustees, hereby

present a report pursuant to section 125(1) of the Danish Insolvency Act:

On 27 July 2016, the Bankruptcy Court in Odense made a bankruptcy order

against Bios Ambulance Services Danmark A/S, Blangstedgaardsvej 8, DK-5220

Odense, company reg. no. 35815619. Bankruptcy proceedings against the

company were commenced on the basis of a petition filed by a creditor and

received by the Bankruptcy Court on 25 July 2016, which date is thus the

reference date of the estate.

The Bankruptcy Court appointed Lawyer Henrik Selchau Poulsen, Bruun & Hjejle,

and Lawyer Jan Bruun Jørgensen, Andersen Partners, as trustees of the estate in

bankruptcy.

A fidelity insurance policy in the amount of DKK 2,500,000 has been taken out

with Tryg Forsikring A/S under policy no. 67462141.

Redirection of letters has not been requested.

The company's bankers were Rabobank Nederland and Danske Bank A/S.

Statements of account for a two-year period prior to the reference date have

been requisitioned.

On 2 August 2016, creditor information circular no. 1 was sent to all ascertained

creditors pursuant to section 124 of the Danish Insolvency Act.

1. Information about the company

The company was founded on 20 March 2014 with a share capital of DKK

500,000 paid up in cash at the price of 100. The founder of the company was

Aktieselskabet Stakemann, Kronprinsessegade 18, 1306 Copenhagen K and the

company is a so-called shelf company.

According to a report from the Danish Business Authority, the company is wholly

owned by Cetorhinus Maximus B.V.

The registered auditor of the company was Baker Tilly Denmark Godkendt

Revisionspartnerselskab. The auditor took up the appointment on 23 November

2015.

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According to its registration with the Danish Business Authority, the object of the

company was to provide ambulance services, and the activities of the company

have consisted thereof.

2. Assets and administration of the estate to date

Since the date of the bankruptcy order, the trustees have been endeavouring to

preserve the activities of the estate, preserve the assets of the estate and

register any claims against the estate, negotiate a transfer of the business and

prepare the completion thereof.

On the same day as the bankruptcy order was made, the trustees entered into

an agreement with the Region of Southern Denmark on continued operation, to

the effect that the company's ambulance services could be continued.

Briefly, the object of the agreement was that the estate should continue the

usual operations of the company. If and to the extent that the operations should

be loss-making, the Region of Southern Denmark would cover the loss in

relation to the estate.

Subsequently, the trustees have examined the market to find potential buyers of

the company's assets and activities.

On the basis thereof and following negotiations and a due diligence process, an

agreement has been made with the Region of Southern Denmark on sale of the

majority of all the company's assets and activities, except for i.a. any amounts

receivable concerning the period prior to the bankruptcy.

The date of completion is no later than three working days after the Danish

Competition and Consumer Authority's approval of the transfer. The Danish

Competition and Consumer Authority approved the agreement on 12 August

2016 and consequently the date of completion is 18 August 2016.

Until then, the agreement on the continued operation of the estate continues to

be in effect.

The transfer takes place at book values less 15 %. The purchase price has not yet been finally determined.

The purchase price is due and payable on 15 September 2016. It concerns free

funds for the estate, as the assets have not been charged.

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The preliminary statement of assets and liabilities is as follows:

3. Assets and liabilities

Assets:

Balance with Danske Bank

Balances with BIOS's lawyer - prepayment

Sale of operating machinery, equipment, stocks,

leasehold improvements, deposits, etc. -

not yet calculated

Paid Kontorsupermarked A/S

DKK 718,074.43

30,737.84

DKK

DKK 1,990.00

Claims relating to reimbursement, e.g. concerning DKK

maternity/paternity leave ?

Claims relating to any disputes, e.g. claim against

Falck of which notice has been given

Repayment of premium

DKK

DKK

Total assets, estimated so far DKK

Liabilities:

Claims under section 82 of the Insolvency Act,

lodged so far: DKK 1,140,464.07

Claims under section 93 of the Insolvency Act,

lodged so far: DKK 750.00

Claims under section 94 of the Insolvency Act,

lodged so far: DKK 101,722.02

Claims under section 95 of the Insolvency Act,

lodged so far: DKK 3,057,486.17

Claims under section 97 of the Insolvency Act,

lodged so far: DKK 48,402,338.78

?

?

?

?

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Claims under section 98 of the Insolvency Act, DKK 31,786,391.00

lodged so far:

Total liabilities, lodged so far DKK 84,489,152.04

Costs:

Fee, bankruptcy petition DKK 750.00

Danish Official Gazette, notice DKK 281.25

Fidelity insurance policy DKK 3,135.00

Mileage DKK 3,404.94

Meals DKK 3,373.16

Total costs DKK 10,944.35

In addition, there will be additional costs incurred in connection with the

administration of the estate.

4. Future estate administration

The trustees' future estate administration is at present expected to consist in:

Completion of the transfer to the Region of Southern Denmark;

Recovery of any reimbursement claims belonging to the estate, e.g.

relating to maternity/paternity leave;

Handling of legal actions and disputes;

The Falck matter;

Continuous registration of claims against the estate and subsequent

adjudication of claims and the related handling of various questions from

creditors and employees, etc.;

General tasks of estate administration, including examination of voidable

transactions, management liability and management disqualification as a

result of bankruptcy.

5. Future information to creditors

Before 25 November 2016, the creditors will receive a detailed statement of the

status of the estate in bankruptcy and the reasons for the bankruptcy.

By creditor information circular no. 1 of 2 August 2016, all ascertained creditors

were requested to lodge their claim with the trustee, accompanied by

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documentation of the claim, within four weeks of the date of the bankruptcy

order. If no claim is lodged, no further information about the administration of

the estate will be sent, just as claims that have not been lodged will not be

considered in connection with the administration.

6. Communications to the trustee

Inquiries to the trustee regarding the administration of the estate should be

addressed to Lawyer Rasmus Moliin, rmo@bruunhjeile.dk or Lawyer Rikke Licht

Bøtcher, rlb@andersen-partners.dk, who assist the undersigned trustees with the administration of the estate.

Claims against the estate should be lodged with biosanmeldelse@andersen- partners.dk. Please address any communication relating to the lodging of claims

to Secretary Jeanette Lehn Lille-Sellebjerg at biosanmeldelse@andersen-

partners.dk.

Copenhagen, on 17 August 2016

~(JL Henrik Selchau Poulsen,

Bruun & Hjejle

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