Studds Accessories Limited has informed the Exchange regarding Outcome of Board Meeting held on April 22, 2026 regarding update for Incorporation of Wholly Owned Subsidiary.
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Studds Accessories Limited's Board has approved a change in the location for incorporating a Wholly Owned Subsidiary (WOS) in Europe. The earlier plan was to set up the WOS in Spain, but this has now been changed to Italy. The WOS will be 100% owned by the company with a capital of up to EUR 1,000,000. The subsidiary's purpose will be importation, distribution, marketing, and sales of the company's products in Europe as part of its global growth strategy. The incorporation will be subject to approvals from relevant European statutory authorities.
This represents a strategic shift in geographic focus for the company's European expansion from Spain to Italy. For shareholders, this indicates continued intent to expand internationally, though the change in location may reflect revised market assessment or regulatory considerations.