Titan N.V. issued annual report

The Hague - Titan N.V. has issued its annual report for FY 2024 (period October 1, 2023 – September 30, 2024). The Company proposes to distribute an amount of € 2,825k as dividend, subject to approval by the shareholders at the upcoming General Meeting. This corresponds to an amount of € 1.38 per share.

About Titan N.V.

Titan N.V. is a company without business activities and without staff as per September 13, 2023. As per September 13, 2023 Titan N.V. , previously called TIE Kinetix N.V., has transferred all of its activities and operations to SPS International Inc., a wholly owned subsidiary of SPS Commerce, Inc. in exchange for a consideration of € 68,35 million. Titan N.V. has subsequently distributed an amount of € 62,5 million as dividend to its shareholders on September 20, 2023. Since then, Titan N.V. is without business activities and staff. As at 30 September 2024, its primary asset is a receivable of € 2.8 million. The receivable was put in an escrow account with escrow agent Intertrust Escrow and Settlements B.V., and served as collateral against which certain representations and warranties can be claimed under the Share purchase Agreement with SPS International Inc. The escrow has been released on 1 November 2024.

Notice

This document is unaudited. All figures are stated in thousands of euro, unless indicated otherwise.

Cautionary statement regarding forward-looking information

This document may contain expectations about the financial state of affairs and results of the activities of Titan N.V. as well as certain related plans and objectives, and may be expressed in a variety of ways, such as ‘expects’, ‘projects’, ‘anticipates’, ‘intends’ or similar words. Titan N.V. has based these forward-looking statements on its current expectations and projections about future events. Such expectations for the future are naturally associated with risks and uncertainties because they relate to future events, and as such depend on certain circumstances that may not arise in future. Various factors may cause real results and developments to deviate considerably from explicitly or implicitly made statements about future expectations. Such factors may for instance be changes in expenditure by companies in important markets, in statutory changes and changes in financial markets, in the salary levels of employees, in future borrowing costs, in future take-overs or divestitures and the pace of technological developments. Titan N.V. therefore cannot guarantee that the expectations will be realized. Titan N.V. also refuses to accept any obligation to update statements made in this document.

The report can be downloaded from its website titan-nv.com.