Acquisition - Titan Company Ltd

Code BSE: 500114 NSE:

Titan Holdings International FZCO., a wholly owned subsidiary of the Company, has today signed an Agreement for Sale and Purchase of Shares (“Definitive Agreement”) with Damas International Limited, UAE, a wholly owned subsidiary of Mannai Corporation QPSC, Qatar (“Mannai”) for the purchase of 67% shareholding in Damas LLC (UAE), the current holding company for Damas jewellery business in GCC countries (“Proposed Transaction”). 1. As per the Proposed Transaction, Titan Holdings will acquire 67% shareholding subject to conditions precedent specified in the Definitive Agreement and relevant regulatory approvals, as may be required, in the applicable jurisdictions. 2. After 31st December 2029, Mannai shall have the right to sell and Titan Holdings shall have the right to acquire the balance 33% shareholding in the holding company, subject to conditions agreed upon in the definitive document in this regard.