Tribunal admits Thomas Cook restructuring at 81:100 share ratio

Demerger ratio announcedCore business divestedScheme filed with the NCLTStrategic Transactions View source PDF Explain this filing

THOMASCOOK · price

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Price reactionminutes from the announcement price · days from the prior close

+5.9%Reaction day

₹89.90

prior close

₹94.71

announcement price

In-mkt

timing

Nifty Microcap 250marketpendingvs market: pending

Tour Travel Related Services peers, median of 6sector+2.7%+3.1% vs sector

On the reaction day the stock moved 3.1 pts more than its Tour Travel Related Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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30m

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Reaction day

+5.9pendingpending+2.7+3.1

Next day

+12.3pendingpending+2.9+9.4

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15d

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UpDownMarket · Nifty Microcap 250Sector · Tour Travel Related Services peers, median of 6Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The National Company Law Tribunal admitted Thomas Cook's restructuring application on November 4. The plan moves the resort business into wholly owned Sterling Holiday Resorts. The exchange ratio is 81 Sterling shares of Rs 10 each for every 100 Thomas Cook shares of Rs 1 each. Three dormant subsidiaries will merge into Thomas Cook. Shareholder and creditor votes are due within 60 days, and final approval remains pending.

Likely market impact

Shareholders would receive 81 Sterling shares per 100 Thomas Cook shares. The resort business may be separately listed, but approvals remain pending.