NSG to dissolve a Subsidiary
Nippon Sheet Glass Co., Ltd., the ultimate holding entity of NSG Group, (hereinafter “the Company”) announces its plan to dissolve its subsidiary, as below.
1. Reason of Dissolution
Sovereign Glass (Leeds Limited was acquired as a part of the acquisition of Heywood Williams companies, a UK-based building glass distributor, by Pilkington on 1st April 1993. Since it has been dormant from then, now the Company decided to dissolve it.
2. Profile of Sovereign Glass (Leeds) Limited
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Registered Office
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Prescot Road, St. Helens, Merseyside WA10 3TT
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Representatives
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Sheila Lennon, Julie Brown
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Business description
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Dormant ( used to be a building glass distributor )
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Incorporation Date
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24th March 1977
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Share Capital
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Authorized 1,000 ordinary £1 shares, Issued 1,000 ordinary £1 shares
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Shareholders
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Pilkington Distribution Services Limited - 999 shares;
Pilkington Brothers ( South Wales ) Limited - 1 share
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Total Shareholder Equity
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0 ( Share capital £1,000, Deficit £1,000 )
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Total Assets
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0
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Fiscal Year end
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31st March
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Number of employees
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0
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3. Schedule and Impact on the operating result
The dissolution of the above-mentioned subsidiary will have been completed within this fiscal year ending March 2008 on the condition that a clearance by the local registry office is obtained. Its dissolution has no effect on the Company's consolidated and non-consolidated results.