DRM 2.0.0 Creating a new Repository Fails with .NET Error

i have downloaded DRM 2.0.0 to run on Windows Server 2012R2, running as Administrator and receiving .NET Unhanded Exception when trying to create a new Local Repository.

Changed FileStore location from both default to separate HDD with more space same error.

has anyone else had this issue and if so how did you overcome it?

Event ID 1000: Application Error

Faulting application name: RepositoryManager.exe, version: 2.0.0.187, time stamp: 0x547ecc82
Faulting module name: KERNELBASE.dll, version: 6.3.9600.17415, time stamp: 0x54504ade
Exception code: 0xe0434352
Fault offset: 0x00014598
Faulting process id: 0x1f18
Faulting application start time: 0x01d04ab832cd105a
Faulting application path: C:\Program Files (x86)\Dell\Dell Repository Manager v2.0.0\RepositoryManager.exe
Faulting module path: C:\Windows\SYSTEM32\KERNELBASE.dll
Report Id: 9588cfc3-b6ab-11e4-80f0-0050568ec892
Faulting package full name:
Faulting package-relative application ID: