Second Meetings of Creditors 26 March 2019 RCR Group - PowerPoint PPT Presentation

DRAFT RCR Asset Maintenance Pty Ltd A.C.N. 060 002 968 Pty Ltd (formerly known as RCR Resources (Heat Treatment) Pty Ltd) (Both Administrators Appointed) Second Meetings of Creditors 26 March 2019 RCR Group (Administrators Appointed)

Agenda Introduction  Meeting formalities and overview of voting process  Meetings to be held concurrently  Purpose of meetings  Overview of the RCR Group  Financial performance of the RCR Group  Overview of Voluntary Administration of the RCR Group  Administrators’ actions to date  Administrators’ sale process  Reasons for failure  Potential claims  Estimated return to creditors  Administrators’ recommendation for the future of the RCR Group  Resolutions  Questions  RCR Group (Administrators Appointed) 2

Meetings being held: 6. RCR Asset Maintenance Pty Ltd 32. A.C.N. 060 002 968 Pty Ltd (formerly known as RCR Resources (Heat Treatment) Pty Ltd) RCR Group (Administrators Appointed) 3

Other RCR entities: 1. RCR Tomlinson Ltd 18. RCR Infrastructure (Corporate) Pty Ltd 32. 2. A.C.N. 076 421 755 Pty Limited 19. RCR Infrastructure Group (XNFK) Pty Ltd 33. RCR Resources (Tripower) Pty Ltd 3. Applied Laser Pty Ltd 20. RCR Infrastructure Pty Ltd 34. RCR Resources Pty Ltd 4. Positron Group Pty Ltd 21. RCR Laser Pty Ltd 35. RCR Tomlinson (Custodian) Pty Ltd 5. Positron Power Pty. Ltd. 22. A.C.N. 060 002 940 Pty Ltd (formerly known 36. RCR Trafalgar Building Products Pty Ltd as RCR Mining Pty Ltd) 6. 37. RCR Water (WA) Pty Ltd 23. A.C.N. 111 148 835 Pty Ltd (formerly known 7. RCR Building Products (Holdings) Pty Ltd 38. RCR Water Pty. Ltd. as RCR O'Donnell Griffin (Holdings) Pty Ltd) 8. RCR Building Services (Egan Bros) Pty Ltd 39. RCReate Pty Ltd 24. A.C.N. 151 990 573 Pty Ltd (formerly known 9. RCR Corporate Pty. Ltd. 40. Sartap Pty Ltd as RCR O'Donnell Griffin (Projects) Pty Ltd) 10. RCR Energy (Gladstone) Pty Ltd 41. Stelform Piping Systems Pty Ltd 25. A.C.N. 003 905 093 Pty Ltd (formerly known as RCR O'Donnell Griffin Pty Ltd) 11. RCR Energy (Stelform VRBT) Pty Ltd 26. RCR Oil & Gas Pty Ltd 12. RCR Energy (Stelform) Pty Ltd 27. RCR Power Pty Ltd 13. RCR Energy Pty Ltd 28. RCR Rel Corp Management Services Pty Ltd 14. RCR Energy Service Pty Ltd 29. RCR Resolve FM (Engineering) Pty Ltd 15. RCR Haden (Holdings) Pty Ltd Meetings were held in Sydney earlier today 30. RCR Resolve FM (Holdings) Pty Ltd 16. RCR Haden (Telco) Pty Ltd 31. RCR Resolve FM Pty Ltd 17. RCR Haden Pty Ltd RCR Group (Administrators Appointed) 4

Meeting formalities Open meeting  Administrator Chairperson: IPR 75-50  Introductions  Rob Brauer (Chairperson – Administrator)  Matthew Caddy (Administrator)  Attendance register  Quorum: IPR 75-105  Time and place convenient: IPR 75-30  Administrators’ report to creditors pursuant to IPR 75-225 ( the Administrators’ Report )  Proofs of debt and proxies  Updated Declaration of Independence, Relevant Relationships and Indemnities ( DIRRI )  Voting  RCR Group (Administrators Appointed) 5

Meeting formalities Quorum: Insolvency Practice Rules 75-105  6. RCR Asset Maintenance Pty Ltd 32. A.C.N. 060 002 968 Pty Ltd (formerly known as RCR Resources (Heat Treatment) Pty Ltd) RCR Group (Administrators Appointed) 6

Meeting formalities Open meeting  Administrator Chairperson: IPR 75-50  Introductions  Rob Brauer (Chairperson – Administrator)  Matthew Caddy (Administrator)  Attendance register  Quorum: IPR 75-105  Time and place convenient: IPR 75-30  Administrators’ report to creditors pursuant to IPR 75-225 ( the Administrators’ Report )  Proofs of debt and proxies  Updated Declaration of Independence, Relevant Relationships and Indemnities ( DIRRI )  Voting  RCR Group (Administrators Appointed) 7

Voting On the voices By poll On your voting slip, tick “In favour of” or “Against”, add your name and (for proxy holders) How to Hold up voting slip the creditor you represent vote Hand voting slip to Administrators’ staff General proxies: fill in a voting slip for each Each creditor/proxy holder in Voting general proxy you hold the room gets one vote, via regardless of how many Special proxies: we already have your creditor’s vote (provided proxy proxies they hold in advance or at sign-in) When more creditors (either in the room or via proxy) vote for When more creditors/ proxy it than vote against it How the holders vote for it than vote AND resolution against it When those who vote for it are owed a greater amount of is passed money than those who vote against it RCR Group (Administrators Appointed) 8

Propose for meetings to be held concurrently 6. RCR Asset Maintenance Pty Ltd 32. A.C.N. 060 002 968 Pty Ltd (formerly known as RCR Resources (Heat Treatment) Pty Ltd) RCR Group (Administrators Appointed) 9

Purpose of meetings The RCR Group enter into a Deed of Company Arrangement The RCR Group enter liquidation The RCR Group be returned to the current directors RCR Group (Administrators Appointed) 10

Overview of the RCR Group – By division RCR Tomlinson Limited RCR Energy Stelform RCR RCR Energy RCR RCR Positron RCR (Stelform RCR Energy RCR Laser Sartap Piping RCR Mining Tomlinson Service Infrastructure Resources Group Corporate VRBT) Systems (Custodian) RCR RCR RCR Energy RCR Oil & Positron Applied Laser RCR Water Infrastructure RCR Power Resources RCReate (Gladstone) Gas Power Group (XNFK) (Tripower) RCR RCR Energy RCR Water Infrastructure (Stelform) (WA) RCR (Corporate) Resources RCR Asset (Heat Maintenance Treatment) RCR RCR RCR Building RCR Resolve O’Donnell O’Donnell RCR Haden Products FM (Holdings) Griffin Griffin (Holdings) (Holdings) Energy (Holdings) (Projects) Infrastructure RCR Trafalgar RCR RCR Resolve RCR Haden ACN 076 421 Building O’Donnell RCR Haden Resources FM (Telco) 755 Products Griffin Corporate RCR Resolve RCR Rel Corp RCR Rel Corp RCR Building Dormant FM Management Management Services (Egan (Engineering) Services Services Bros) Note: Corporate structure only relates to the Australian entities in external administration RCR Group (Administrators Appointed) 11

Overview of the RCR Group – Employing entities RCR Tomlinson Limited RCR Energy Stelform RCR RCR Energy RCR RCR Positron RCR (Stelform RCR Energy RCR Laser Sartap Piping RCR Mining Tomlinson Service Infrastructure Resources Group Corporate VRBT) Systems (Custodian) RCR RCR RCR Energy RCR Oil & Positron Applied Laser RCR Water Infrastructure RCR Power Resources RCReate (Gladstone) Gas Power Group (XNFK) (Tripower) RCR RCR Energy RCR Water Infrastructure (Stelform) (WA) RCR (Corporate) Resources RCR Asset (Heat Maintenance Treatment) RCR RCR RCR Building RCR Resolve O’Donnell O’Donnell RCR Haden Products FM (Holdings) Griffin Griffin (Holdings) (Holdings) (Holdings) (Projects) RCR Trafalgar RCR RCR Resolve RCR Haden ACN 076 421 Building O’Donnell RCR Haden Employer FM (Telco) 755 Products Griffin Dormant RCR Resolve RCR Rel Corp RCR Rel Corp RCR Building Other FM Management Management Services (Egan (Engineering) Services Services Bros) Note: Corporate structure only relates to the Australian entities in external administration RCR Group (Administrators Appointed) 12

Overview of the RCR Group – DXG Companies Creditors of companies party to the Deed of Cross Guarantee ( DXG ) are contingent creditors of all the other companies which are party to the DXG RCR Tomlinson Limited RCR Energy Stelform RCR RCR Energy RCR RCR Positron RCR (Stelform RCR Energy RCR Laser Sartap Piping RCR Mining Tomlinson Service Infrastructure Resources Group Corporate VRBT) Systems (Custodian) RCR RCR RCR Energy RCR Oil & Positron Applied Laser RCR Water Infrastructure RCR Power Resources RCReate (Gladstone) Gas Power Group (XNFK) (Tripower) RCR RCR Energy RCR Water Infrastructure (Stelform) (WA) RCR (Corporate) Resources RCR Asset (Heat Maintenance Treatment) RCR RCR RCR Building RCR Resolve O’Donnell O’Donnell RCR Haden Products FM (Holdings) Griffin Griffin (Holdings) (Holdings) (Holdings) (Projects) DXG RCR Trafalgar RCR RCR Resolve RCR Haden ACN 076 421 Building O’Donnell RCR Haden Employer FM (Telco) 755 Products Griffin Dormant RCR Resolve RCR Rel Corp RCR Rel Corp RCR Building Other FM Management Management Services (Egan (Engineering) Services Services Bros) Note: Corporate structure only relates to the Australian entities in external administration RCR Group (Administrators Appointed) 13