Gold Bullion Securities Limited is engaged in listing and issue of gold bullion securities (Gold Securities). A Gold Security is a secured, undated zero coupon note of the Company, is secured on an amount of bullion equivalent to the gold entitlement of each Gold Security on any given date. It also allows investors to buy and sell the interest through the trading of a security to which that security may be admitted to trading from time to time. The Company earns a management fee by reducing the gold entitlement on a daily basis by an agreed amount (the Gold Sales Charge or Management Fee). The Company operates in the United Kingdom and Europe.Gold Bullion Securities Limited is a subsidiary of ETF Securities Limited.