Gatemore Capital Management presents Watches of Switzerland Group at 13D Monitor

Gatemore Capital Management LLP England United Kingdom United States of America New York

to the Board of WOSG to highlight the gap between the Company's strong intrinsic value and relatively weak share price, calling for the Company to launch a substantial share buyback to accrete permanent value for shareholders.

In order for WOSG to fully unlock the value of its stock, we are now calling for the Company to move its primary listing to the US, a key growth market around which WOSG is already pursuing an ambitious growth strategy. As a result of this, we expect WOSG to generate the majority of its future revenues from the US market; now is the time for this listing change.

The move would also bring additional benefits, including:

A fresh opportunity to highlight the Company's exposure to the growing market for fine watches and branded jewellery in the US and no exposure to the luxury slowdown in Asia;Access to deeper pools of capital and long-term growth investors with a deep understanding of the US, the key growth market for WOSG;Higher valuations that more accurately reflect the Company's intrinsic value; andSignificantly greater liquidity.

Liad Meidar, Managing Partner at Gatemore, said: "Watches of Switzerland has established itself as the leading retailer of premium watches. It is an exceptional business, providing customers a premium experience and boasting longstanding partnerships with some of the strongest brands in the world. With a clear leading position in the UK market, the Company is now well positioned to unlock additional growth in the massive and underpenetrated US market.

We are impressed with the track record and ambition of the management team, and we call on them to consider a listing in the US to fulfil WOSG's potential and help unlock the intrinsic value of this  business."

Gatemore's presentation on WOSG at 13D Monitor can be found here.

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About Gatemore Capital Management

Gatemore Capital Management manages an activist strategy focused on companies across consumer, industrial, healthcare, sports, media, and technology sectors. Gatemore primarily targets fundamentally sound businesses that are underperforming and/or undervalued but have strong potential for recovery and growth. Gatemore's strategy is to influence outcomes and drive outperformance through thought leadership and deep engagement, aiming to effect positive change and unlock value within the companies in which they invest.

Learn more about Gatemore here.

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