Please find attached outcome of Board Meeting held today i.e. May 26, 2026
COCKERILL · price
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John Cockerill India Limited's board approved a material modification to its December 2025 Share Purchase Agreement with parent company John Cockerill SA (JCSA) for acquiring 100% stake in John Cockerill Metals International SA, Belgium. The revised purchase price is €24.32 million, structured as €5 million cash (by June 30, 2026) plus a share swap via issuance of 35,185 Non-Cumulative Compulsorily Convertible Preference Shares (CCPS) worth ~INR 204.17 crore to JCSA. Each CCPS is convertible into 10 equity shares within 18 months. The acquisition consolidates the metals business under the Indian listed entity. The 40th AGM is scheduled for June 25, 2026. All resolutions are subject to shareholder and regulatory approvals (including RBI).
Post-conversion of CCPS, JCSA's holding will increase from 70.33% to 72.30%, marginally strengthening promoter control. The share swap avoids cash outflow but dilutes equity. The acquisition consolidates a metals business with turnover of ~€7.3 million (FY26).