MIRA INFORM REPORT

Report Date :

30.07.2013

IDENTIFICATION DETAILS

Name :	PRIMARK
Formerly Known As :	PRIMARK EXPORTS LIMITED
Registered Office :	47 Mary Street Dublin 1 216410
Country :	Ireland
Date of Incorporation :	06.05.1974
Com. Reg. No.:	IE047371
Legal Form :	Private unlimited with Share Capital
Line of Business :	Retail sale of clothing
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

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, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Ireland	B1	B1

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

IRELAND - ECONOMIC OVERVIEW

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis, with GDP falling by over 3% in 2008, nearly 7% in 2009, and less than 1% in 2010. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property and construction markets. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become a key component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the former COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the banking sector. In late 2010, the former COWEN government agreed to a $112 billion loan package from the EU and IMF to help Dublin further increase the capitalization of its banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the new KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland achieved moderate growth of 1.4% in 2011 and cut the budget deficit to 9.1% of GDP. Although the recovery slowed in 2012 because of weaker EU demand for Irish exports, Dublin managed to trim the deficit to about 8.5% of GDP.

Source : CIA

Company Name and address

PRIMARK

Company No:	IE047371
Registered Address:
47 MARY STREET
DUBLIN 1
216410

Company Summary

Company Name	PRIMARK	Company Number	IE047371
Registered Address	47 MARY STREET
	DUBLIN 1
	216410
Website Address	-
Telephone Number	018727788	Fax Number
TPS	No	FPS	No
Incorporation Date	06/05/1974	Company Status	Financial Statements not filed / too old
Previous Name	PRIMARK EXPORTS LIMITED	Type	Private unlimited with Share Capital
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€4
SIC03	5242	Currency	EUR
SIC03 Description	Retail sale of clothing
SIC07	47710
SIC07 Description	RETAIL SALE OF CLOTHING IN SPECIALISED STORES
Principal Activity

Key Financials

No key Financials Registered

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  

N/A	25
Company DBT	UK Average DBT

Steady

Improving Worsening

Within Terms 91+ Days

CJ

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

Exact CJ Details

There are no exact CJ details

Possible CJ Details

There are no possible CJ details

Mortgage Summary

Outstanding	0
Satisfied	0

Total Current Directors	5
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	10

Current Directors

Name	BREEGE O'DONOGHUE	Date of Birth	21/06/1944
Officers Title		Nationality
Present Appointments	4	Function	Director
Appointment Date	25/01/1988
Address	53 LANDSDOWNE WOOD, DUBLIN 4

Name	ARTHUR ST JOHN RYAN	Date of Birth	19/07/1935
Officers Title		Nationality
Present Appointments	19	Function	Director
Appointment Date	31/05/1974
Address	60 LANSDOWNE ROAD, BALLSBRIDGE, DUBLIN 4

Name	PAUL JOHN MARCHANT	Date of Birth	22/02/1968
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	01/01/2009
Address	SANTA MARIA, CUNNINGHAM ROAD, DALKEY, CO. DUBLIN

Name	AIDAN HUGH SHIELDS	Date of Birth	21/09/1967
Officers Title		Nationality
Present Appointments	8	Function	Director
Appointment Date	01/06/2010
Address	GLENDASAN HOUSE, CONVENT ROAD, DELGANY, CO.WICKLOW

Name	JOHN LYTTLE	Date of Birth	15/06/1967
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	14/01/2011
Address	RED HOUSE, RIVERHEAD, SEVENOAKS, KENT TN13 3BI

Current Company Secretary

Name	ROSALYN SHARON SCHOFIELD	Date of Birth	-
Officers Title		Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	13/08/2001
Address	45 OAKLEIGH PARK SOUTH, LONDON N20 9JR, ENGLAND

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
SIZZLERS	EUR	2	ORDINARY	1.27
A.B.F. NOMINEES LTD	EUR	1	ORDINARY	1.27

Unable to report percentage holdings as filed Shareholder listing is not full.

Status History

No Status History found

Event History

Date	Description
25/06/2013	Annual Returns
28/03/2013	Annual Returns
28/07/2012	Annual Returns
15/07/2011	Annual Returns
15/06/2011	SEAMUS MICHAEL HALFORD has left the board
27/01/2011	PATRICK BRENDAN PRIOR has left the board
14/01/2011	New Board Member (JOHN LYTTLE) appointed
07/07/2010	Annual Returns
01/06/2010	New Board Member (AIDAN HUGH SHIELDS) appointed
16/07/2009	Annual Returns
01/01/2009	New Board Member (PAUL JOHN MARCHANT) appointed
07/07/2008	Annual Returns
19/12/2007	BERNARD JOHN MICHAEL MANSFIELD has left the board
05/01/2004	New Board Member (BERNARD JOHN MICHAEL MANSFIELD) appointed
13/08/2001	LYN RICHARDSON has resigned as company secretary

Previous Company Names

Date	Previous Name
N/A	PRIMARK EXPORTS LIMITED
24/08/1987	PRIMARK LIMITED
11/01/1977	PRIMARK EXPORTS

Received Documents

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

Business Owner Links

	Business Name	Business No	Business Status.
	PRIMARK	IE047371
	PENNEYS	53984	NORMAL

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

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

Mortgage Details

Creditor Details

	No Creditor Data
Total Value		-

Trade Debtors / Bad Debt Detail

	No Debtor Data
Total Value		-

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.29
UK Pound	1	Rs.91.18
Euro	1	Rs.78.71

INFORMATION DETAILS

Report Prepared by :

SDA

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.