Silvercity Brands AG acquires 100% stake in Favre Leuba GmbH

SILVERCITY BRANDS AG, wholly owned subsidiary of Ethos Limited, has acquired 100% stake in Favre Leuba GmbH, a Swiss stock corporation having its registered office at c/o Badertscher Rechtsanwälte AG, Grafenauweg 6, 6300 Zug, Switzerland. Consequently, Favre Leuba GmbH has become the wholly owned subsidiary body corporate of the Silvercity Brands AG and thereby, step - down subsidiary of the Company with immediate effect.

Favre Leuba GmbH is a Swiss Company which was incorporated on 9th March 2023 with Registration number CHE-351.614.668 within the jurisdiction of laws of Switzerland. The registered office of the Company is situated at c/o Badertscher Rechtsanwälte AG, Grafenauweg 6, 6300 Zug, Switzerland.

The share capital amounts to CHF 20,000 and is divided into 20,000 registered shares of CHF 1.00 each. The Company is yet to start its commercial operations.

The purpose of the Company is to acquire, sell and hold and the administration of intellectual property rights and license rights, in particular in the watch industry and related areas. It also aims to buy and sell, market and development of watches, related products and other luxury goods and all related activities. It can set up branches and subsidiaries at home and abroad and participate in other companies at home and abroad as well as do business directly or indirectly related to their purpose. It can also provide financing for its own account or for the account of others as well as securities of any kind, including guarantees and sureties, for Subsidiaries and third parties.

Shares of Ethos Limited was last trading in BSE at Rs. 1249.55 as compared to the previous close of Rs. 1253.00. The total number of shares traded during the day was 3516 in over 436 trades.

The stock hit an intraday high of Rs. 1303.55 and intraday low of 1245.95. The net turnover during the day was Rs. 4437352.00.

Source : Equity Bulls

Keywords

ETHOS INE04TZ01018 Retail Watches Acquisition