2006
 
 -Clothing company House of Pearl Fashions Ltd on Oct 10, filed a
 draft red herring prospectus with the Securities and Exchange Board
 of India for an initial public offering. The company plans to offer
 6.12 million shares at a price to be determined during the
 book-building process, it said in a statement. At least 50 per cent
 of the share issue will be earmarked for institutional investors,
 with 35 per cent set aside for retail investors. House of Pearl
 Fashions didn't disclose the amount of money it aims to raise through
 the IPO. The investment manager for the issue will be JM Morgan
 Stanley Private Ltd.
 
 The Company was incorporated as a private limited company under the
 name 
 Mina Estates Private Limited on July 5, 1989 under the Companies Act,
 1956. 
 The name of the Company was subsequently changed to House of Pearl 
 Fashions Private Limited by a special resolution of the members of
 the Company 
 passed at the extra ordinary general meeting on May 9, 2006. The
 fresh 
 certificate of incorporation consequent upon the change of name was
 granted 
 on June 19, 2006, by the RoC. The Company became a public limited
 company 
 pursuant to a special resolution of its shareholders passed at the
 extra ordinary
 general meeting on June 28, 2006. Pursuant to this special
 resolution, the name 
 of the Company was changed to House of Pearl Fashions Limited. The
 certificate 
 of incorporation was amended to reflect the new name on July 31, 2006
 
 by the RoC. 
 
 
 On October 24, 2000, pursuant to a scheme of merger approved 
 by the Delhi High Court (the “Merger Scheme”), the Company acquired
 the 
 properties, rights and claims of Seth Real Estates Private Limited,
 Passion 
 Estates Private Limited, India Watch Company Private Limited, Atlanta
 Estates 
 Private Limited, Pearl Housing (India) Private Limited and J.R.
 Apparel 
 Private Limited (the “Transferor Companies”) and the Transferor
 Companies 
 merged with and into the Company effective April 1, 1999. On January
 20, 2001, 
 under the terms of the Merger Scheme, the shareholders of the
 Transferor 
 Companies were granted an aggregate of 5,98,570 Equity Shares in the
 Company
 for consideration other than cash.
 
 
 Historically, we conducted business as a separate group of companies.
 Our 
 domestic operations have been carried out by Pearl Global, a listed
 company 
 in India, in which HoPFL owns a 62.8% equity interest. In order to
 integrate the 
 international operations with our domestic operations, we commenced a
 
 restructuring of certain of our businesses, which was completed ina
 phased 
 manner. On March 28, 2006, HoPFL incorporated its wholly-owned
 subsidiary 
 in Mauritius, Multinational Textiles, which acquired a 100% equity
 interest in 
 Global Textiles Group, a Mauritius company, on March 31, 2006, and an
 85% 
 equity interest in Norwest Industries (HK), a Hong Kong company, on
 May 
 31, 2006. Global Textiles Group owns Depa U.S., Poeticgem and PT
 Norwest, 
 our principal operating companies in the United States, the United
 Kingdom 
 and Indonesia, respectively. On March 28, 2006, HoPFL also acquired 
 approximately 99.9% and 98.0%, respectively, of Nor Pearl and Norp
 Knit, 
 companies incorporated in Bangladesh.
 
 
 Following the restructuring, in addition to Pearl Global, each of
 Multinational 
 Textiles, Nor Pearl, Norp Knit, Norwest Industries (HK), Global
 Textiles Group, 
 Poeticgem, PT Norwest, Depa U.S., Poeticgem Canada and Pacific
 Logistics 
 became a direct or indirect subsidiary of HoPFL. Further, on August
 1, 2006, 
 we also incorporated HoP (U.S.), a wholly-owned subsidiary in the
 U.S. Our 
 indirect subsidiary, Depa International (Canada) Inc., was acquired
 by our 
 subsidiary, Poeticgem on October 1, 2006.
 
 
 The name was changed to “Poeticgem (Canada) Limited” on October 12,
 2006.
 
 Major Events:
 
 Date Events
 
 1987       Pearl Global started operations
 
 1994       Pearl Global lists at the BSE, NSE, DSE and ASE
 
 1998       Establishment of international presence with incorporation
 of Norwest 
                Industries in Hong Kong
 
 2002       PT Norwest, Indonesia started production
 
 2002       Setting up of sourcing office in China
 
 2004       The Company acquired import and distribution businesses in
 the U.S.A. 
                and the U.K. and also consolidated overseas entities
 
 2005       Setting up of sourcing office in Bangladesh
 
 2005        Nor Pearl and Norp Knit, subsidiaries in Bangladesh
 commenced 
                operations
 
 2006        Reorganization of group companies and consolidation of
 operations 
                 under House of Pearl Fashions Limited
 
 2006        HoP (U.S.), new subsidiary incorporated in U.S.
 
 1987      Pearl Global started operations
 
 
 2009
 
 - House of Pearl Fashions Limited (HOPFL) through its subsidiary,
 House of Pearl Fashions (US) Ltd has signed a multi year agreement
 with Geoffrey Beene, LLC for Men's Casual Shorts and Dress Slacks
 under the Geoffrey Beene Label.
 
 2012
 
 -Company has changed its name from House of Pearl Fashions Ltd. to
 Pearl Global Industries Ltd.