Glottis Limited Completes Incorporation of U.S. Subsidiary, Glottis Inc.
Glottis Limited announced the incorporation of a wholly-owned subsidiary, Glottis Inc., in Texas, USA, on March 20, 2026. The subsidiary was incorporated on March 18, 2026, and is engaged in the business of freight forwarding.The incorporation was approved via mail on March 20, 2026. Glottis Inc. was established with a capital of 1,500 shares at a face value of USD $1 per share, with 100% of the share capital subscribed to in cash. The company intends to make further investments in tranches based on business requirements.
The subsidiary is considered a related party transaction due to Glottis Limited’s ownership. The primary objective of Glottis Inc. is to expand the business of Glottis Limited. No governmental or regulatory approvals were required for the acquisition.
Details of Incorporation
Here's a summary of key details regarding the incorporation of Glottis Inc.:
| Particulars | Details |
|---|---|
| Name of Entity & Date of Incorporation | Glottis Inc., 18-03-2026 |
| Country of Incorporation | Texas (USA) |
| Turnover | Nil |
| Relation with the Listed Entity | Wholly Owned Subsidiary |
| Industry | Freight Forwarding |
| Objects of Acquisition | To expand the business of Glottis Limited. |
| Consideration | 100% subscription to initial paid-up capital in Cash. |
| Cost of Acquisition | USD $ 1 per share |
| Percentage of Shareholding Acquired | 100% Subscription to the Share Capital |
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