Exicom Tele-Systems Limited’s stake in its material subsidiary, Exicom Power Solutions B.V., has been diluted from 92.23% to 90.29% following the conversion of debt instruments into equity. The dilution occurred after the Board of Directors of the Dutch entity approved the conversion of Optionally Convertible Debentures (OCDs) aggregating to USD 1.5 million (approximately EUR 1.31 million) into ordinary equity shares. This transaction marks the latest tranche in a broader capital restructuring, with total OCD conversions now reaching USD 7 million since the initial issuance.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The conversion was executed in accordance with the terms of the underlying agreements and subject to the completion of requisite formalities under applicable Dutch laws. Despite the reduction in ownership percentage, Exicom B.V. continues to qualify as a material subsidiary of the parent company under SEBI Listing Regulations.

Transaction Details

The OCDs were originally issued to a third-party foreign investor, who held the option to convert the debt into ordinary equity shares in one or more tranches. The recent conversion involved shares with a nominal value of EUR 1 each. There is no benefit to the promoter group or group companies from this restructuring.

Impact on Ownership Structure

The conversion alters the shareholding pattern of Exicom B.V., introducing a direct equity stake for the foreign investor. Previously, the investor’s exposure was limited to the debt instrument. Post-conversion, the foreign investor holds 9.71% of the subsidiary’s equity, while Exicom Tele-Systems retains a controlling interest at 90.29%. The company noted that this change does not affect the subsidiary’s status as a material entity for consolidation and reporting purposes under Indian listing norms.

What the Numbers Show

The dilution reflects a planned transition from debt to equity financing for the Dutch subsidiary. With USD 7 million of the original USD 10 million OCD issuance now converted, the remaining USD 3 million in convertible debt represents 30% of the initial facility. The retention of a 90.29% stake ensures that Exicom Tele-Systems maintains consolidated control over Exicom B.V.’s financial results and operational decisions, despite the increased equity participation by the foreign investor.

exicom tele-systems has accepted the resignation of Mr. Aman Sharma from the position of Head - IT and Applications, effective June 30, 2026. The resignation was submitted via a letter dated June 26, 2026, and marks the cessation of his role as a Senior Management Personnel with the company. Mr. Sharma cited a new career opportunity aligned with his aspirations as the reason for his departure, requesting to be relieved at the close of business hours on June 30, 2026.

The company placed on record its appreciation for his valuable contributions and services during his association with Exicom Tele-Systems Limited. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Resignation

The intimation was signed by Sangeeta Karnatak, Company Secretary & Compliance Officer. The filing included the necessary details required under Regulation 30 and Para A of Part A of Schedule III of the SEBI Listing Regulations, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.