Corporate News, 09.09.2014

English

Setfortrading S.L.

The Board of Directors of Setfortrading SL, Leioa, Spain, 45% shareholder of Tamarix Noa S.L., announced today that the reclaim of 55% of the shares of Tamarix Noa S.L. was not completed by Norwich S.a.r.l. , a company which is 100% owned by BAGR GmbH in Berlin a subsidiary of Metal Corp Group BV. Instead BAGR GmbH transferred 100% of the shares of Norwich S.a.r.l on August 28, 2014 to a letterbox company, whose beneficial owners are unknown.

Background information: In 2012 Setfortrading has purchased 100% of the shares of the copper recycling plant Tamarix Noa S.L. in Bilbao, Spain (former Euro Metall Recycling S.L.). In order to secure the long-term financing of the raw material and to market the finished copper products, Setfortrading was looking for a qualified investor which was avertible found. For that reason Setfortrading has transferred 55% of the shares of Tamarix to Norwich S.a.r.l. a subsidiary company of BAGR GmbH, Berlin, a Group Company of Metalcorp Group B.V. Due to the partial non-performance of Norwich S.a.r.l. and the Metalcorp Group B.V. fellow subsidiary Tennant Metals SAM, Monaco, to bring the committed financial lines in Tamarix Noa, the shares are claimed back by Setfortrading by July 3rd, 2014.

From September 2013 until today, Tamarix Noa S.L was led by Mr. Victor Carballo and Mrs. Pascale Younes (two high-level executives and board member of Metalcorp Group). Metalcorp Group B.V. and its Group Company BAGR GmbH, was directly involved into every decision making and has taken over substantial direct control of the plant at every level.

During this time, the Basque regional and Spanish environmental requirements for recycling facilities were probably insufficient filed and Tamarix Noa S.L. has not compliant with local regulations and most of them were fulfilled only partly.

The land on which Tamarix Noa S.L. has setup its plant bears the risk of a potential contamination with black plastic and suspended particulate matter by polymer fibers produced over the last twelve months. Because of those and other facts, Ms. Maribel Luque Jimenez resigned from the supervisory board from Tamarix in June 2014. Ms Jimenez is also owner of Setfortrading S.L.

The transfer of Norwich S.a.r.l. shares by the BAGR GmbH to a letterbox company is related to the monetary claims of Setfortrading related to the non-fulfillment of the financing and the cleanup of the supposedly contaminated surfaces of the owner of the industrial site and the adjoining land to the Tamarix plant to the Metal Corp Group BV Subsidiary BAGR GmbH.

Setfortrading S.L. reclaims until the 12^th of September 2014 from Metalcorp Group B.V. the transfer of the remaining shares of Tamarix Noa S.L. holded in Norwich S.a.r.l. and to bring until September 30^th, 2014, the Tamarix plant into the old pre-share-transferred status from 2013.

Setfortrading has mandated a specialized legal financier to pre-finance the legal costs of the proceedings and enforce all related titles for them.

SETFORTRADING, S.L.

Alfonso Bereincua Gandarias

p.p. (power of attorney)