The board of directors of Timex Group India Limited announced that the board of directors has, vide its resolution passed by circulation on December 6, 2023, approved the execution of letters with M/s Timex Nederland B.V. for extension of the distribution rights for Guess and Gc brand watches in India and other SAARC member countries for 2 years until December 31, 2025. The distribution rights will be subject to the terms and conditions mentioned in these extension letters read with the Distribution Agreements dated December 24, 2021. The extension letters are in the process of execution by both parties.