KDDL subsidiary acquires shares in Silvercity Brands AG

KDDL Limited [BSE:KDDL] announced today that its wholly-owned subsidiary, Mahen Distribution Limited, has acquired 874,000 partly paid equity shares of CHF 1 each in Silvercity Brands AG. Silvercity Brands AG, a Swiss stock corporation involved in the watch industry, was incorporated on March 6, 2023, and has its registered office in Grenchen, Switzerland. The acquisition price was CHF 2.86 per share. Following the acquisition, KDDL, directly and indirectly, holds 93.07% equity in Silvercity Brands AG. The transaction, conducted at arm's length, aims to support Silvercity Brands AG's business activities, including manufacturing, trading, and investment in watches and luxury products.