SLIPFORM ENGINEERING GROUP LTD

Hsbc UK Bank PLC

A fixed and floating charge over all assets.

C Spencer Limited and Spencer Engineering Group Limited

Means all freehold and leasehold properties (whether registered or unregistered) and all commonhold properties, now or at any time after the date of this deed (and from time to time) owned by the company, or in which the company holds an interest and property means any of them.