Grand Banks Yachts Limited had on 15 March 2021 incorporated an indirect wholly-owned subsidiary in the United States of America ("USA"), known as GB Yachts Sales, LLC. ("GBY Sales") with an initial issued and paid-up share capital of USD 1,000.00. Details of the Company's new wholly- owned subsidiary, GBY Sales, are as follows: Principal Activities: Sales of new and used boats as well as brokerage of used boats.