The Company was incorporated on 1 March 2006 with one issued share of fifty pence held by Carlisle Group Limited (“CGL”) and has not yet traded, generated any revenue or made any investments.  Shellshock has no borrowings.  On 13 September 2007 Shellshock issued a further 5,999,999 ordinary shares of fifty pence each in Shellshock to CGL at a subscription price of fifty pence per share in cash, equal, together with the subscriber share issued to CGL for fifty pence in cash, to a total subscription price of £3,000,000.  Shellshock is not raising any additional capital on Admission.

The Company’s accounting reference date is 31 March.  The first audited financial statements of Shellshock will be prepared for the period from 1 April 2007 to 31 March 2008.  The Company will also publish half-yearly reports.