New Company Registrations

1. Annual Data (2011)

   A total of 130 companies were formed in Marlborough in 2011. This total is 9.7% lower than in 2010 and compares poorly to the UK figure of a 13.1% growth compared to 400,358 the previous year.

   Year	Marlborough	UK
   2011	130	452,870
   2010	144	400,358
   2009	137	362,675
   2008	142	349,203
   2007	129	457,649
   Record Year	2010 (144)	2007 (457,649)

   incorporation year	uk year	uk companies	number of companies	sort
   2011	2011	452870	130	1
   2010	2010	400358	144	1
   2009	2009	362675	137	1
   2008	2008	349203	142	1
   2007	2007	457649	129	1
   2006	2006	405440	117	1
   2005	2005	367689	121	1
   2004	2004	340803	116	1
   2003	2003	403670	144	1
   2002	2002	299401	131	1
   2010	2007	457649	144	2

   New Companies by Year

2. Half Year Data (Jul-Dec 2011)

   In the second half of 2011 a total of 57 companies were formed in Marlborough. This figure is 9.5% lower than last year, which compares badly to the UK wide figure of 14.0%.

   The highest total for a second half year in Marlborough occurred in 2002 when a total of 74 were formed.

   Half Year (Jul-Dec)	Marlborough	UK
   2011	57	224,135
   2010	63	196,609
   % change	-9.5%	14.0%
   Record Year	2002 (74)	2011 (224,135)

   half	uk companies	number of companies
   H2 2011	224135	57
   H2 2010	196609	63
   H2 2009	180654	74
   H2 2008	160932	67
   H2 2007	178552	54
   H2 2006	190031	57
   H2 2005	180291	55
   H2 2004	166374	59
   H2 2003	201446	65
   H2 2002	162884	74

   New Companies by Half Year

3. Quarterly Data (Q4 Oct-Dec 2011)

   A total of 31 companies were registered in Marlborough during the fourth quarter of 2011 (Oct 2011 - Dec 2011).

   This figure is a decrease of 16.2% versus the same period last year (Q4 2010). This figure compares badly to the UK as a whole, which saw an increase of 15.3% against the same period last year.

   fourth quarter (Oct 2011 - Dec 2011)	Marlborough	UK
   2011	31	109,623
   2010	37	95,117
   % change	-16.2%	15.3%
   Record Year	2003 (42)	2011 (109,623)

   quarter	number of companies	uk quarter	uk companies	sort
   Q4 2011	31	Q4 2011	109623	1
   Q4 2010	37	Q4 2010	95117	1
   Q4 2009	32	Q4 2009	85983	1
   Q4 2008	39	Q4 2008	76038	1
   Q4 2007	24	Q4 2007	83140	1
   Q4 2006	33	Q4 2006	94527	1
   Q4 2005	30	Q4 2005	89564	1
   Q4 2004	31	Q4 2004	81122	1
   Q4 2003	42	Q4 2003	94243	1
   Q4 2002	32	Q4 2002	82677	1
   Q4 2003	42	Q4 2011	109623	2

   New Companies by Quarter

4. Monthly Data (Oct, Nov & Dec 2011)

   month	uk companies	number of companies
   Dec 2011	30598	8
   Nov 2011	40319	13
   Oct 2011	38706	10
   Sep 2011	38920	12
   Aug 2011	38461	6
   Jul 2011	37131	8
   Jun 2011	39725	12
   May 2011	38130	10
   Apr 2011	34489	10
   Mar 2011	44847	18
   Feb 2011	37762	9
   Jan 2011	33782	14

   New Companies by Month

   	October	November	December
   New companies in 2011	10	13	8
   New companies in 2010	13	16	8
   % change	-23.1%	-18.8%	0.0%
   Record Year	2003 (15)	2010 (16)	2008 (16)

Closed Companies (dissolved)

1. Annual Data (2011)

   A total of 107 companies were dissolved in Marlborough in 2011. This total is 1.9% higher than in 2010 and compares favourably to the UK figure of 8.1% decrease compared to the previous year.

   Year	Marlborough	UK
   2011	107	314,523
   2010	105	342,232
   2009	143	533,773
   2008	54	237,901
   2007	58	220,295
   Record Year	2009 (143)	2009 (533,773)

   dissolution year	uk year	uk companies	number of companies	sort
   2011	2011	314523	107	1
   2010	2010	342232	105	1
   2009	2009	533773	143	1
   2008	2008	237901	54	1
   2007	2007	220295	58	1
   2006	2006	200166	68	1
   2005	2005	189329	59	1
   2004	2004	171967	74	1
   2003	2003	161127	47	1
   2002	2002	163577	46	1
   2009	2009	533773	143	2

   Dissolved Companies by Year

2. Half Year Data (Jul-Dec 2011)

   In the second half of 2011 a total of 54 companies were dissolved in Marlborough. This figure is 17.4% higher than last year, which compares badly to the UK wide change of -7.5%.

   The highest total for a second half year in Marlborough occurred in 2009 when a total of 68 were closed.

   Half Year (Jul-Dec)	Marlborough	UK
   2011	54	152,213
   2010	46	164,601
   % change	17.4%	-7.5%
   Record Year	2009 (68)	2009 (244,537)

   half	uk companies	number of companies
   H2 2011	152213	54
   H2 2010	164601	46
   H2 2009	244537	68
   H2 2008	134798	27
   H2 2007	112494	29
   H2 2006	100900	31
   H2 2005	98663	29
   H2 2004	87430	35
   H2 2003	83674	27
   H2 2002	90537	24

   Dissolved Companies by Half Year

3. Quarterly Data (Q4 Oct-Dec 2011)

   Q4 2011 saw a new record in company closures in Marlborough when compared to any previous Q4.

   A total of 34 companies were dissolved in Marlborough during the fourth quarter of 2011 (Oct 2011 - Dec 2011).

   This figure is an increase of 78.9% versus the same period last year (Q4 2010). This figure compares poorly to the UK as a whole, which saw an increase of 4.0% against the same period last year.

   fourth quarter (Oct 2011 - Dec 2011)	Marlborough	UK
   2011	34	79,983
   2010	19	76,896
   % change	78.9%	4.0%
   Record Year	2011 (34)	2009 (85,136)

   quarter	number of companies	uk quarter	uk companies	sort
   Q4 2011	34	Q4 2011	79983	1
   Q4 2010	19	Q4 2010	76896	1
   Q4 2009	27	Q4 2009	85136	1
   Q4 2008	7	Q4 2008	52051	1
   Q4 2007	12	Q4 2007	53829	1
   Q4 2006	15	Q4 2006	49456	1
   Q4 2005	16	Q4 2005	48529	1
   Q4 2004	21	Q4 2004	43135	1
   Q4 2003	6	Q4 2003	37068	1
   Q4 2002	9	Q4 2002	49574	1
   Q4 2011	34	Q4 2009	85136	2

   Dissolved Companies by Quarter

4. Monthly Data (Oct, Nov & Dec 2011)

   December 2011 saw a new record in company closures in Marlborough when compared to any previous December.

   November 2011 saw a new record in company closures in Marlborough when compared to any previous November.

   month	uk companies	number of companies
   Dec 2011	29283	10
   Nov 2011	31065	11
   Oct 2011	19635	13
   Sep 2011	22852	7
   Aug 2011	25745	10
   Jul 2011	23633	3
   Jun 2011	23848	3
   May 2011	31305	9
   Apr 2011	16171	6
   Mar 2011	27947	15
   Feb 2011	29849	12
   Jan 2011	33190	8

   Dissolved Companies by Month

   	October	November	December
   Closed companies in 2011	13	11	10
   Closed companies in 2010	7	6	6
   % change	85.7%	83.3%	67%
   Record Year	2004 (15)	2011 (11)	2011 (10)

Net Company Growth

1. Annual Data (2011)

   A total of 23 companies were added to the company register for Marlborough in 2011. This number represents growth of 16.0% in the total number of active companies, which compares unfavourably to the UK figure of 34.6%.

   This number is 16 companies lower than the previous year.

   The highest net company growth figure ever seen in one year came in 2003 when the Marlborough company register grew by 97 companies.

   Year	Marlborough	UK
   2011	23	138,347
   2010	39	58,126
   2009	-6	-171,098
   2008	88	111,302
   2007	71	237,354
   Record Year	2003 (97)	2003 (242,543)

   year	net	prev total	uk year	uk net	uk prev	sort
   2011	23	144	2011	138347	400358	1
   2010	39	137	2010	58126	362675	1
   2009	-6	142	2009	-171098	349203	1
   2008	88	129	2008	111302	457649	1
   2007	71	117	2007	237354	405440	1
   2006	49	121	2006	205274	367689	1
   2005	62	116	2005	178360	340803	1
   2004	42	144	2004	168836	403670	1
   2003	97	131	2003	242543	299401	1
   2002	85	100	2002	135824	226399	1
   2003	97	0	2003	242543	0	2

   Net Growth by Year

2. Half Year Data (Jul-Dec 2011)

   In the second half of 2011 the company register for Marlborough increased by 3 companies.

   Half Year (Jul-Dec)	Marlborough	UK
   2011	3	71,922
   2010	17	32,008
   Record Year	2002 (50)	2003 (117,772)

   half	uk net	net
   H2 2011	71922	3
   H2 2010	32008	17
   H2 2009	-63883	6
   H2 2008	26134	40
   H2 2007	66058	25
   H2 2006	89131	26
   H2 2005	81628	26
   H2 2004	78944	24
   H2 2003	117772	38
   H2 2002	72347	50

   Net Growth by Half Year

3. Quarterly Data (Q4 Oct-Dec 2011)

   Net company growth for Marlborough during the fourth quarter of 2011 (Oct 2011 - Dec 2011) was -3 companies.

   fourth quarter (Oct 2011 - Dec 2011)	Marlborough	UK
   2011	-3	29,640
   2010	18	18,221
   Record Year	2003 (36)	2003 (57,175)

   quarter	net	prev total	uk quarter	uk net	uk prev	sort
   Q4 2011	-3	37	Q4 2011	29640	95117	1
   Q4 2010	18	32	Q4 2010	18221	85983	1
   Q4 2009	5	39	Q4 2009	847	76038	1
   Q4 2008	32	24	Q4 2008	23987	83140	1
   Q4 2007	12	33	Q4 2007	29311	94527	1
   Q4 2006	18	30	Q4 2006	45071	89564	1
   Q4 2005	14	31	Q4 2005	41035	81122	1
   Q4 2004	10	42	Q4 2004	37987	94243	1
   Q4 2003	36	32	Q4 2003	57175	82677	1
   Q4 2002	23	26	Q4 2002	33103	53729	1
   Q4 2003	36	0	Q4 2003	57175	0	2

   Net Growth by Quarter

4. Monthly Data (Oct, Nov & Dec 2011)

   month	uk net	net
   Dec 2011	1315	-2
   Nov 2011	9254	2
   Oct 2011	19071	-3
   Sep 2011	16068	5
   Aug 2011	12716	-4
   Jul 2011	13498	5
   Jun 2011	15877	9
   May 2011	6825	1
   Apr 2011	18318	4
   Mar 2011	16900	3
   Feb 2011	7913	-3
   Jan 2011	592	6

   Net Growth by Month

   	October	November	December
   Net growth in 2011	-3	2	-2
   Net growth in 2010	6	10	2
   Record Year	2003 (14)	2003 (13)	2008 (14)

UK Company Share

1. Annual Data (2011)

   In 2011 Marlborough formed 0.0% of all UK companies. This is no change on 2010 when Marlborough was responsible for 0.0% of all UK companies.

   Year	Marlborough
   2011	0.0%
   2010	0.0%
   2009	0.0%
   2008	0.0%
   2007	0.0%
   Record Year (since 1960)	1968 (0.1%)

   incorporation year	percentage	num town	sort
   2011	0.0287	130	1
   2010	0.0360	144	1
   2009	0.0378	137	1
   2008	0.0407	142	1
   2007	0.0282	129	1
   2006	0.0289	117	1
   2005	0.0329	121	1
   2004	0.0340	116	1
   2003	0.0357	144	1
   2002	0.0438	131	1
   1968	0.0803	4	2

   Company Share by Year

2. Half Year Data (Jul-Dec 2011)

   In the second half of 2011 Marlborough formed 0.0% of all UK companies. This is the same as the 2010 figure of 0.0%.

   Half Year (Jul-Dec)	Marlborough
   2011	0.0%
   2010	0.0%
   2009	0.0%
   2008	0.0%
   2007	0.0%
   Record Year (since 1960)	1965 (0.1%)

   half	percentage	num town	sort
   H2 2011	0.0254	57	1
   H2 2010	0.0320	63	1
   H2 2009	0.0410	74	1
   H2 2008	0.0416	67	1
   H2 2007	0.0302	54	1
   H2 2006	0.0300	57	1
   H2 2005	0.0305	55	1
   H2 2004	0.0355	59	1
   H2 2003	0.0323	65	1
   H2 2002	0.0454	74	1
   H2 1965	0.1373	4	2

   Company Share by Half Year

3. Quarterly Data (Q4 Oct-Dec 2011)

   In the fourth quarter of 2011, Marlborough formed 0.0% of all UK companies.

   fourth quarter (Oct 2011 - Dec 2011)	Marlborough
   2011	0.0%
   2010	0.0%
   2009	0.0%
   2008	0.1%
   2007	0.0%
   Record Year (since 1960)	1966 (0.2%)

   quarter	percentage	num town	sort
   Q4 2011	0.0283	31	1
   Q4 2010	0.0389	37	1
   Q4 2009	0.0372	32	1
   Q4 2008	0.0513	39	1
   Q4 2007	0.0289	24	1
   Q4 2006	0.0349	33	1
   Q4 2005	0.0335	30	1
   Q4 2004	0.0382	31	1
   Q4 2003	0.0446	42	1
   Q4 2002	0.0387	32	1
   Q4 1966	0.2331	3	2

   Company Share by Quarter

4. Monthly Data (Oct, Nov & Dec 2011)

   month	percentage	num town
   Dec 2011	0.0261	8
   Nov 2011	0.0322	13
   Oct 2011	0.0258	10
   Sep 2011	0.0308	12
   Aug 2011	0.0156	6
   Jul 2011	0.0215	8
   Jun 2011	0.0302	12
   May 2011	0.0262	10
   Apr 2011	0.0290	10
   Mar 2011	0.0401	18
   Feb 2011	0.0238	9
   Jan 2011	0.0414	14

   Company Share by Month

   	October	November	December
   UK formation share in 2011	0.0%	0.0%	0.0%
   UK formation share in 2010	0.0%	0.0%	0.0%
   % change	-33.2%	-30.9%	-11.5%
   Record Year	1965 (0.6%)	1992 (0.1%)	1966 (0.7%)

Director Age

1. Annual Data (2011)

   The average age of a director in 2011 was 47.2.

   The percentage of directors under the age of 25 was 2.9% compared to the UK figure of 3.7%.

   The percentage of directors over the age of 65 was 7.1% compared to the UK figure of 4.2%.

   incorporation year	average age	over 65	under 25	uk average age	uk under 25	uk over 65
   2011	47.1833	7.0833	2.9167	43.5012	3.6548	4.1918
   2010	49.9258	9.7656	1.1719	44.4401	2.4538	4.5333
   2009	49.6287	7.1661	0.6515	45.2261	1.7605	5.0704
   2008	48.7020	7.2848	0.9934	46.1030	1.1038	5.5656
   2007	49.7692	9.0659	0.5495	46.9178	0.6450	6.2914
   2006	52.2636	14.4022	0.0000	47.8828	0.4451	7.0508
   2005	51.0720	9.6000	0.0000	48.7391	0.2649	7.9581
   2004	52.5604	9.1787	0.0000	49.4951	0.1758	8.9625
   2003	53.1230	15.1639	0.2049	50.8740	0.1352	10.6270
   2002	53.9447	15.9574	0.0000	51.6935	0.1273	11.7651

   Director Age by Year

2. Half Year Data (Jul-Dec 2011)

   The average age of a director in the second half of 2011 was 47.8.

   The percentage of directors under the age of 25 was 0.9% compared to the UK figure of 4.1%.

   The percentage of directors over the age of 65 was 7.1% compared to the UK figure of 4.1%.

   half	average age	over 65	under 25	uk average age	uk under 25	uk over 65
   H2 2011	47.8214	7.1429	0.8929	43.1922	4.1183	4.0977
   H2 2010	49.6949	10.1695	2.5424	44.1077	2.8067	4.4080
   H2 2009	49.7866	7.9268	0.6098	45.0201	1.9353	4.9560
   H2 2008	48.1504	6.0150	0.7519	45.8334	1.2764	5.4631
   H2 2007	49.3766	8.4416	0.6494	46.8152	0.7598	6.1076
   H2 2006	52.5329	16.1677	0.0000	47.7247	0.5102	6.9628
   H2 2005	50.9925	7.4627	0.0000	48.4938	0.2844	7.7243
   H2 2004	51.3029	7.2115	0.0000	49.3406	0.1993	8.8644
   H2 2003	53.4454	16.5939	0.4367	50.4891	0.1411	10.0769
   H2 2002	55.0941	19.2157	0.0000	51.6317	0.1268	11.7639

   Director Age by Half Year

3. Quarterly Data (Q4 Oct-Dec 2011)

   The average age of a director in the fourth quarter of 2011 was 47.1.

   The percentage of directors under the age of 25 was 1.5% compared to the UK figure of 4.2%.

   The percentage of directors over the age of 65 was 6.0% compared to the UK figure of 4.1%.

   quarter	average age	over 65	under 25	uk average age	uk under 25	uk over 65
   Q4 2011	47.1493	5.9701	1.4925	43.1368	4.2237	4.1394
   Q4 2010	49.0484	8.0645	1.6129	44.1115	2.9654	4.4413
   Q4 2009	49.9474	6.5789	1.3158	45.0208	1.9341	4.7453
   Q4 2008	48.3472	4.1667	0.0000	45.8957	1.3524	5.5383
   Q4 2007	47.8356	2.7397	0.0000	46.8486	0.7878	5.9462
   Q4 2006	50.3011	10.7527	0.0000	47.7754	0.5298	7.0007
   Q4 2005	51.9595	6.7568	0.0000	48.4782	0.2883	7.6552
   Q4 2004	50.1735	5.1020	0.0000	49.3119	0.2130	8.5903
   Q4 2003	53.3828	14.8438	0.7813	50.4240	0.1555	9.9952
   Q4 2002	55.2521	19.3277	0.0000	51.6196	0.1377	11.7155

   Director Age by Quarter

Director Gender

1. Annual Data (2011)

   The record year for female directors in Marlborough was 1857 when 36.4% of all directors were female.

   The percentage of female directors in Marlborough in 2011 was 30.0%. The average for the UK during this time was 28.6%

   incorporation year	percentage female	uk year	uk percentage female	sort
   2002	30.0000	2002	28.5637	1
   2003	35.7678	2003	29.8456	1
   2004	31.2644	2004	26.7982	1
   2005	31.1436	2005	26.5473	1
   2006	32.4390	2006	26.5349	1
   2007	37.0370	2007	27.0885	1
   2008	31.8182	2008	27.0648	1
   2009	32.7635	2009	25.4309	1
   2010	33.9041	2010	24.9134	1
   2011	25.9542	2011	25.7049	1
   1857	36.3636	1962	100.0000	2

   Director Gender by Year

2. Half Year Data (Jul-Dec 2011)

   The record second half year for female directors in Marlborough was 1860 when 42.9% of all directors were female.

   26.1% of all director appointments in Marlborough in the second half of 2011 were female. This compares to a UK average of 25.7% for the same period.

   half	percentage female	uk half	uk percentage female	sort
   H2 2011	26.0504	H2 2011	25.6738	1
   H2 2010	33.5878	H2 2010	24.9631	1
   H2 2009	31.6062	H2 2009	24.8956	1
   H2 2008	29.4872	H2 2008	26.2791	1
   H2 2007	36.2573	H2 2007	26.7504	1
   H2 2006	29.7297	H2 2006	26.4750	1
   H2 2005	31.8182	H2 2005	26.2215	1
   H2 2004	33.7900	H2 2004	26.7574	1
   H2 2003	37.3494	H2 2003	29.3888	1
   H2 2002	31.3653	H2 2002	29.5525	1
   H2 1860	42.8571	H2 1956	100.0000	2

   Director Gender by Half Year

3. Quarterly Data (Q4 Oct-Dec 2011)

   The record fourth quarter for female directors in Marlborough was in 1977 when 31.1% of all directors were female.

   26.4% of all director appointments in Marlborough in the fourth quarter of 2011 were female. This compares to a UK average of 25.3% for the same period.

   quarter	percentage female	uk quarter	uk percentage female	sort
   Q4 2011	26.3889	Q4 2011	25.2910	1
   Q4 2010	29.4118	Q4 2010	24.7227	1
   Q4 2009	32.2581	Q4 2009	24.0749	1
   Q4 2008	21.4286	Q4 2008	26.3450	1
   Q4 2007	30.2632	Q4 2007	26.5826	1
   Q4 2006	29.4118	Q4 2006	25.9680	1
   Q4 2005	29.2683	Q4 2005	26.0272	1
   Q4 2004	32.6923	Q4 2004	26.4556	1
   Q4 2003	36.6906	Q4 2003	29.1713	1
   Q4 2002	27.5591	Q4 2002	29.6130	1
   Q4 1977	31.0539	Q4 1956	100.0000	2

   Director Gender by Quarter

Naming Trends

1. Previous 12 months (Dec 2010-Dec 2011)

   Excluding: LIMITED, LTD, &, UK, SERVICES, THE, (UK), AND, LTD., A, LLP, SOLUTIONS, COMPANY, OF.

   word	percentage	uk word	uk percentage
   MARLBOROUGH	2.97%	CONSULTING	5.07%
   MANAGEMENT	2.23%	MANAGEMENT	4.74%
   TREE	1.49%	CONSULTANCY	3.26%
   ASSOCIATES	1.49%	PROPERTY	2.37%
   R	1.49%	TRADING	2.07%
   G	1.12%	DESIGN	1.92%
   CONSTRUCTION	1.12%	ASSOCIATES	1.86%
   CO	1.12%	ENGINEERING	1.78%
   IT	1.12%	BUSINESS	1.78%
   J	1.12%	CONSULTANTS	1.76%
   CONSULTING	1.12%	CONSTRUCTION	1.73%
   HR	0.74%	MEDIA	1.71%
   T	0.74%	LONDON	1.63%
   LEISURE	0.74%	J	1.51%
   COACHING	0.74%	INVESTMENTS	1.48%
   FARMING	0.74%	GLOBAL	1.46%
   CONSULTANTS	0.74%	IT	1.41%
   D	0.74%	CARE	1.39%
   EASTRIDGE	0.74%	PROPERTIES	1.29%
   COMMERCIAL	0.74%	ELECTRICAL	1.29%
   TECHNICAL	0.74%	M	1.27%
   SCOTT	0.74%	BUILDING	1.26%
   BUSINESS	0.74%	ENERGY	1.25%
   HILLSIDE	0.74%	S	1.20%
   DIRECTIONS	0.74%	ENTERPRISES	1.20%

SIC Data

1. Previous 36 months, excluding companies less than 12 months old

   sic code	number of companies	uk companies
   None Supplied	49	205,525
   7487 - Other business activities	17	57,052
   7414 - Business & management consultancy	15	13,034
   70229 - Management consultancy activities other than financial management	13	17,765
   99999 - Dormant Company	8	21,846
   74909 - Other professional, scientific and technical activities not elsewhere classified	7	8,671
   9999 - Dormant Company	7	20,199
   62090 - Other information technology service activities	7	7,493
   74990 - Non-trading company	7	8,929
   82990 - Other business support service activities not elsewhere classified	6	32,483
   7499 - Non-trading company	6	9,957
   96090 - Other service activities not elsewhere classified	6	11,768
   47990 - Other retail sale not in stores, stalls or markets	5	2,699
   64999 - Financial intermediation not elsewhere classified	5	2,946
   41100 - Development of building projects	4	4,331
   62020 - Information technology consultancy activities	4	12,072
   71111 - Architectural activities	4	1,615
   43210 - Electrical installation	3	3,175
   61900 - Other telecommunications activities	3	1,386
   7011 - Development & sell real estate	3	2,287

Recent Companies

1. Randomly selected companies from this quarter

   COMPANY NUMBER	COMPANY NAME	INCORPORATION DATE
   07869496	OPERATIONS CHANGE MANAGEMENT LIMITED	02 Dec 2011
   07870188	ACN TESTING LTD	05 Dec 2011
   07873110	CLIVE ADOLPH LTD	06 Dec 2011
   07874053	KINGSDOWN JOINERY LTD	07 Dec 2011
   07876315	DIRHAM LIMITED	09 Dec 2011
   07883543	M4 CONSULTANTS LIMITED	15 Dec 2011
   07883787	TECHNICAL TALENT LTD	15 Dec 2011
   07890102	DISPENSARIES DIRECT LIMITED	22 Dec 2011