Stamford Tyres Establishes Indian Subsidiary

Stamford Tyres Distributors India Private Limited (Stamford Tyres India) was incorporated on 6 July 2005 with an authorized capital of 500,000 rupees (£5700) and will sell and distribute wheels and tyres to the Indian market.

Executive directors Mr Wee Kok Wah and Mrs Dawn Wee Wai Ying held 10,000 shares in the company divided equally between them until they were transferred to the Stamford Tyres Corp Ltd and Stamford Tyres International Pte Ltd at 9900 and 100 ordinary shares respectively. Stamford Tyres Corp Ltd subscribed for an additional 39,923 ordinary shares in Stamford Tyres India for 399,230 rupees.

As a result Stamford Tyres India is made up of the following share holders: Stamford Tyres Corporation Limited – 49,823 shares; and Stamford Tyres International Pte Ltd 100 shares.