MIRA INFORM REPORT

Report Date :

29.06.2012

IDENTIFICATION DETAILS

Name :	GLAXOSMITHKLINE TRADING SERVICES LIMITED

Registered Office :	6900 Cork Airport Business Park, Kinsale Road,Co Cork, 999937

Country :	Ireland

Date of Incorporation :	10.08.2005

Com. Reg. No.:	IE406446

Legal Form :	Limited Liability Company

Line of Business :	Manufacturer of pharmaceutical goods

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Ireland

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company summary

Company Name	GLAXOSMITHKLINE TRADING SERVICES LIMITED	Company Number	IE406446
Registered Address	6900 CORK AIRPORT BUSINESS PARK
	KINSALE ROAD
	CO CORK
	999937
Website Address	-
Telephone Number	0214378800	Fax Number
TPS	No	FPS	No
Incorporation Date	10/08/2005	Company Status	Section 17 (Southern Ireland)
Previous Name		Type	Other
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€816,253,216
SIC03	2442	Currency	GBP
SIC03 Description	MANUFACTURE OF PHARMACEUTICAL GOODS
SIC07	21200
SIC07 Description	MANUFACTURE OF PHARMACEUTICAL PREPARATIONS
Principal Activity

DIRECTORS/MANAGEMENT

Total Current Directors	4
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	4

Current Directors

Name	DAVID FINBAR WHYTE	Date of Birth	06/09/1949
Officers Title		Nationality
Present Appointments	3	Function	Director
Appointment Date	10/08/2005
Address	BIRCHFIELD HOUSE, FERNHILL, CARRIGALINE,
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	NICHOLAS COMYN	Date of Birth	02/04/1946
Officers Title		Nationality
Present Appointments	42	Function	Director
Appointment Date	10/08/2005
Address	10 SHELDON, PATRICKS HILL, CO. CORK.,
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	JAMES MICHAEL MCGRATH	Date of Birth	02/01/1968
Officers Title		Nationality
Present Appointments	3	Function	Director
Appointment Date	01/08/2010
Address	THE ELM, POST OFFICE AVENUE, BLACKROCK,
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	STEVE WILLIAMSON	Date of Birth	15/08/1961
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	17/10/2011
Address	FERNHURST, WEST FLEXFORD LANE WANBOROUGH, GUILDFORD,
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	R.D.J. LIMITED	Date of Birth	30/07/1974
Officers Title		Nationality
Present Appointments	45	Function	Company Secretary
Appointment Date	10/08/2005
Address	Ronan Daly Jermyn Solicitors, 12 South Mall, Cork,

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
PAUL FREDERICK BLACKBURN	0	2
GRAHAM PAUL RIVERS	0	1
JILL GICKING MC CONNELL	0	1
MELISSA CAVANAGH	0	1

NEGATIVE INFORMATION

Total Number of Exact CJs -	Total Value of Exact CJs -	€0
Total Number of Possible CJs -	Total Value of Possible CJs -	€0
Total Number of Satisfied CJs -	Total Value of Satisfied CJs -	€0

Exact CJ Details

There are no exact CJ details

Possible CJ Details

There are no possible CJ details

Writ Details

Unregistered - Exact CJ Details

No CJs found

Unregistered - Possible CJ Details

No CJs found

Registered - Exact CJ Details

No CJs found

Registered - Possible CJ Details

No CJs found

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Individual Share Value
SETFIRST LIMITED	816,253,216 ORDINARY GBP 1.00

PAYMENT INFORMATION

Creditor Details

No Creditor Data

Total Value

Trade Debtors / Bad Debt Detail

No Debtor Data

Total Value

GROUP STRUCTURE & AFFILIATED COMPANIES

Group	86 companies
Linkages	150 companies
Countries	In 48 countries

Summary

Holding Company	-
Ownership Status	Intermediately Owned
Ultimate Holding Company	GLAXOSMITHKLINE PLC

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
GLAXOSMITHKLINE PLC	03888792	31.12.2011	Y	£27,387,000,000
GLAXOSMITHKLINE MERCURY LIMITED	07004253	31.12.2011	N
VIIV HEALTHCARE LIMITED	06876960	31.12.2011	Y	£1,536,512,000
PHIVCO UK LIMITED	06944223	31.12.2010	N	£1,611,000
PHIVCO UK II LIMITED	06944229	31.12.2010	N	£32,856,000
VIIV HEALTHCARE TRADING...	06982415	31.12.2010	N	£934,723,000
VIIV HEALTHCARE UK LIMITED	06990358	31.12.2010	N	£645,759,000
VIIV HEALTHCARE OVERSEAS...	07027385	31.12.2010	N
BLOCK DRUG CO INC	N/A	-	-
STAFFORD-MILLER LIMITED	00318499	31.12.2011	N
GLAXOSMITHKLINE BIOLOGICALS SA	440872918	31.12.2010	N	€2,541,068,084
GLAXOSMITHKLINE INTERNATIO...	02298366	31.12.2010	N	£69,000
GLAXOSMITHKILNE INTERNATIONA...	N/A	-	-
GLAXO WELLCOME INTERNATIONAL	IE310316	31.12.2003	Y	€30,430,000,000
GLAXOSMITHKLINE TRADING SE...	IE406446	31.12.2010	Y
GLAXOSMITHKLINE SERVICES UNL...	01047315	31.12.2010	N	£2,293,000,000
GLAXOSMITHKLINE (NETHERLANDS...	30153615	31.12.2006	N
GLAXOSMITHKLINE SL LP	LP013718	-	N
GLAXOCHEM (UK) UNLIMITED	04299472	31.12.2010	N
GLAXOSMITHKLINE HOLDINGS (ON...	04230101	31.12.2011	N
GLAXOSMITHKLINE HOLDINGS LIM...	05647873	31.12.2010	N
GLAXOSMITHKLINE FINANCE PLC	00242686	31.12.2010	N	£29,631,000
SETFIRST LIMITED	02332323	31.12.2010	N
GLAXOSMITHKLINE INVEST...	06968741	31.12.2010	N
GLAXOSMITHKLINE (IRELA...	IE015513	31.12.2010	N
GLAXOSMITHKLINE CONSUM...	IE024797	31.12.2010	N
GLAXOSMITHKLINE DUNGAR...	IE268666	31.12.2010	N
SMITHKLINE BEECHAM (MA...	IE187383	31.12.2010	N	€283,000
GLAXOSMITHKLINE IHC LIMITED	07257967	31.12.2010	N
GLAXO GROUP LIMITED	00305979	31.12.2010	N	£4,127,102,000
MONTROSE FINE CHEMICAL...	SC190635	31.12.2011	N
GLAXO WELLCOME UK LIMITED	00480080	31.12.2011	N
ALLEN & HANBURYS LIM...	00040209	31.12.2011	N
GLAXO LABORATORIES L...	00239893	31.12.2011	N
GLAXO OPERATIONS UK LI...	00711851	31.12.2010	N	£897,496,000
CLARGES PHARMACEUTICAL...	00100583	31.12.2011	N
DOMANTIS LIMITED	03907643	31.12.2010	N	£10,842,723
EDINBURGH PHARMACEUTIC...	SC005534	31.12.2011	N
GLAXOSMITHKLINE UK LIM...	04310159	31.12.2010	N	£1,945,824,000
GLAXOSMITHKLINE EXPORT...	02433585	31.12.2010	N	£5,557,729,000
GLAXOSMITHKLINE RESEAR...	00835139	31.12.2010	N	£1,439,683,000
MAXINUTRITION GROUP HO...	06445049	30.04.2011	Y
MM MIDCO LIMITED	06445050	30.04.2011	N
MM BIDCO LIMITED	06445051	30.04.2011	N
MAXIMUSCLE HOLDI...	05127535	30.04.2011	N
MAXINUTRITION...	03084288	30.04.2011	N
MAXIMUSCLE S...	03349674	30.04.2011	N
MAXIMUSCLE U...	03350050	30.04.2011	N
MAXIMUSCLE.C...	03959957	30.04.2011	N
MAXIMUSCLE L...	04873940	30.04.2011	N
MIXIS GENETICS LIMITED	03225840	31.12.2011	N
STAFFORD-MILLER (IRELA...	IE379445	31.12.2010	Y
SMITHKLINE BEECHAM LIMITED	02337959	31.12.2010	N	£815,000,000
SMITH KLINE & FRENCH L...	00052207	31.12.2011	N
BEECHAM GROUP P L C	00227531	31.12.2011	N
SMITHKLINE BEECHAM PEN...	00064836	31.12.2011	N
ESKAYLAB LIMITED	00099025	31.12.2011	N
SMITHKLINE BEECHAM (SW...	00190223	31.12.2011	N
HORLICKS LIMITED	00210281	31.12.2011	N
SMITHKLINE BEECHAM RES...	00229017	31.12.2010	N	£4,002,000
SMITHKLINE BEECHAM MAR...	00494385	31.12.2010	N
SMITHKLINE BEECHAM NOM...	00503868	31.12.2011	N
GLAXOSMITHKLINE CARIBB...	00522215	31.12.2010	N	£33,268,000
SMITHKLINE BEECHAM OVE...	02552828	31.12.2011	N
SMITHKLINE BEECHAM (EX...	02860752	31.12.2010	N
SMITHKLINE BEECHAM PEN...	03425311	31.12.2011	N
SMITHKLINE BEECHAM SEN...	03425313	31.12.2011	N
DEALCYBER LIMITED	03541898	31.12.2011	N	£11,917,000
GLAXOSMITHKLINE CAPITA...	02258699	31.12.2011	N
SMITHKLINE BEECHAM (IN...	00302065	31.12.2011	N
WELLCOME LIMITED	01955498	31.12.2010	N
SMITHKLINE BEECHAM (H)...	03296131	31.12.2011	N
WELLCOME FOUNDATION LI...	00194814	31.12.2010	N	£258,123,000
CHARLES MIDGLEY LIMITED	00162786	31.12.2011	N
WELLCOME CONSUMER HE...	00263054	31.12.2011	N
BURROUGHS WELLCOME...	00543757	31.12.2011	N
WELLCOME CONSUMER PR...	02873615	31.12.2011	N
SMITHKLINE & FRENCH B V	N/A	-	-
SMITHKLINE BEECHAM (CORK)...	IE217028	31.12.2010	N
STIEFEL LABORATORIES INCORPO...	N/A	-	-
STIEFEL CANADA INC	N/A	-	-
STIEFEL LABORATORIES (IR...	IE049850	31.12.2010	N	€108,086,749
STIEFEL DISTRIBUTORS (...	IE156130	31.03.2011	N
STIEFEL LABORATORIES (...	05354860	31.12.2010	N	£8,650,000
STIEFEL LABORATORIES (...	00831160	31.12.2010	N	£4,638,000
STIEFEL LABORATORIES...	01633638	31.12.2011	N

Other Linked companies

Name	Number	Latest Key Financials	Turnover
GLAXO SMITH KLINE PAKISTAN		31.12.2010	€151,534,403
PLIVA D.D.		31.12.2008	€664,502,862
GLAXOSMITHKLINE HOLDING AS	919157445	31.12.2010
GLAXOSMITHKLINE	00208407	31.12.2011	€100,644,321
SETFIRST (NO. 2) LIMITED	FC025752	31.12.2008
GLAXO WELLCOME PRODUCTION	410352777	31.12.2010	€418,896,064
LABORATOIRE GLAXOSMITHKLINE	642041362	31.12.2010	€1,550,241,537
GROUPE GLAXOSMITHKLINE	592052146	31.12.2010
GLAXOSMITHKLINE BIOLOGICALS	338460017	31.12.2010	€75,719,169
SMITHKLINE BEECHAM HOLDINGS (UK) LIMITED	03890815	31.12.2009
GLAXOSMITHKLINE AKTIEBOLAG	5562366343	31.12.2010	1,098,510 KSEK
GLAXOSMITHKLINE OY	01083784	31.12.2010	€115,056,000
GLAXO PROPERTIES B.V.	30102544	31.12.2011
GLAXOSMITHKLINE SANTE GRAND PUBLIC	672012580	31.12.2010	€173,262,122
MIXIS FRANCE	339627234	31.12.2010	€3,429
GLAXOSMITHKLINE AS	930606308	31.12.2010	€88,153,500
GLAXOSMITHKLINE INTERNATIONAL (LUXEMBOURG) S.À R.L.	B73232	31.12.2010
GLAXOSMITHKLINE CONSUMER HEALTHCARE B.V.	33147823	31.12.2010	€65,552,000
GLAXOSMITHKLINE B.V.	27141630	31.12.2010	€235,452,000
GLAXO AS	954225178	31.12.2010

Miscellaneous

Date Of Accounts	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06
Contingent Liability	NO	-	NO	-	NO	-	NO	-	YES
Capital Employed	-	-	-	-	-	-	-	-	-
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors	PRICEWATERHOUSECOOPERS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Mortgage Summary

Outstanding	0
Satisfied	0

Status History

No Status History found

Event History

Date	Description
17/10/2011	New Board Member (STEVE WILLIAMSON) appointed
06/10/2011	Annual Returns
06/10/2011	New Accounts Filed
06/10/2011	New Accounts Filed
23/09/2011	PAUL FREDERICK BLACKBURN has left the board
13/11/2010	Annual Returns
13/11/2010	New Accounts Filed
13/11/2010	New Accounts Filed
01/08/2010	New Board Member (JAMES MICHAEL MCGRATH) appointed
31/07/2010	JILL GICKING MC CONNELL has left the board
31/07/2010	MELISSA CAVANAGH has left the board
04/06/2010	New Board Member (MELISSA CAVANAGH) appointed
28/09/2009	New Accounts Filed
24/09/2009	Annual Returns
16/11/2008	Annual Returns

Limit History

Date	Limit
28/09/2009	-
15/11/2007	€0
31/08/2007	€3,500,000

Previous Company Names

No Previous Names found

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.92
UK Pound	1	Rs.88.91
Euro	1	Rs.71.25

INFORMATION DETAILS

Report Prepared by :

MNL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

Company summary

DIRECTORS/MANAGEMENT

NEGATIVE INFORMATION

SHARE & SHARE CAPITAL INFORMATION

PAYMENT INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

NOTES & COMMENTS

Unit