Kothari Industrial Corporation Limited has issued a regulatory clarification to BSE Limited regarding media reports about its potential acquisition of the iconic French footwear brand Kickers. The clarification was submitted on 30 January 2026 in response to a news item published in The Hindu newspaper with the headline "KICL in talks to buy iconic French footwear brand Kickers."

Regulatory Clarification Details

The company's response, signed by Company Secretary and Compliance Officer Anil Kumar Padhiali, addressed the BSE's request for clarification under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Approval and Due Diligence Requirements

Kothari Industrial Corporation emphasized that any decision related to acquiring the Kickers brand will be subject to specific conditions and approvals. The company outlined the following key requirements:

• Board of Directors' consent and approval mandatory for finalization
• Completion of comprehensive due diligence process required
• Adherence to statutory and contractual formalities necessary
• No binding commitments made at current stage

Legal and Regulatory Status

The company provided clear confirmation regarding its current legal standing in relation to the potential acquisition. Kothari Industrial Corporation stated that there are no regulatory or legal proceedings initiated or pending in connection with the Kickers brand acquisition matter.

Future Disclosure Commitments

The company outlined its commitment to maintaining transparency and regulatory compliance throughout the process. Kothari Industrial Corporation confirmed that appropriate disclosures will be made to stock exchanges in accordance with applicable regulations after board approval and upon finalization of any binding agreement, if and when such events occur.

The company also confirmed that as of the clarification date, there is no information or event pending for disclosure to the stock exchange under Regulation 30 of the SEBI (LODR) Regulations, 2015. The clarification reinforces the company's commitment to making appropriate disclosures as and when any material events occur in accordance with regulatory requirements.

Kothari Industrial Corporation Limited conducted its Extra Ordinary General Meeting (EGM) on January 27, 2026, at 11.00 A.M. through Video Conference/Other Audio-Visual Means (VC/OAVM). The meeting was chaired by Mr. Rafiq Ahmed and concluded at 11.07 A.M.

Meeting Structure and Compliance

The EGM was conducted in accordance with circulars issued by the Ministry of Corporate Affairs and Securities & Exchange Board of India. The Company Secretary confirmed the presence of required board members, including the Chairman and members of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. The required quorum was declared present before proceeding with the agenda.

Key Agenda Items

The EGM addressed two special business items requiring shareholder approval:

Voting Process and Compliance

The company provided comprehensive voting facilities to ensure shareholder participation:

• Remote e-voting period: January 24-26, 2026
• Cut-off date: January 20, 2026
• Additional e-voting: Available during EGM through CDSL platform
• E-voting window closure: 15 minutes after EGM conclusion

The voting process was conducted in compliance with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Proceedings

The EGM notice was distributed via email to all shareholders who had registered their email addresses with the company or Registrar and Share Transfer Agents within the statutory time period. No speakers were registered for the meeting, though the Chairman informed members they could submit queries via email for prompt responses.

Results and Next Steps

The Company Secretary announced that scrutinizers had been appointed for the e-voting process, and voting results would be declared within 2 working days from the meeting's conclusion. The proceedings represent a summary and should not be regarded as the official minutes of the meeting.