Time Watch Raises Annual Cap on Connected Supply Deal With ILG

Time Watch Investments Ltd. ( (HK:2033) ) has issued an announcement.

Time Watch Investments Limited has revised the annual cap for its continuing connected transactions under a master supply agreement with the ILG Group, reflecting stronger demand for watch movements and OEM-manufactured watches. The company expects existing limits to be insufficient for the higher order volume and is increasing the cap while keeping all other contractual terms unchanged.

Because ILG is deemed a connected person at the subsidiary level through its ownership links with Time Watch’s indirect non-wholly owned subsidiary, the transactions fall under Hong Kong Listing Rules on continuing connected transactions. The revised annual cap exceeds the 5% threshold, triggering reporting and announcement requirements, but the deal is exempt from independent shareholders’ approval as the board, including independent non-executive directors, has deemed the terms fair, reasonable and in the interests of shareholders.

The most recent analyst rating on (HK:2033) stock is a Hold with a HK$0.29 price target. To see the full list of analyst forecasts on Time Watch Investments Ltd. stock, see the HK:2033 Stock Forecast page.

More about Time Watch Investments Ltd.

Time Watch Investments Limited is a Cayman Islands–incorporated company listed in Hong Kong that operates in the watch industry. The group supplies watch movements and finished watches, including products manufactured on an OEM basis, and serves both its own brands and external customers such as the ILG Group.

Average Trading Volume: 89,631

Technical Sentiment Signal: Sell

Current Market Cap: HK$596.8M

See more data about 2033 stock on TipRanks’ Stock Analysis page.