Worthington Steel, Inc. (NYSE: WS) issued a statement ahead of an extraordinary general meeting (EGM) of Klöckner & Co SE, scheduled for Oct. 23, 2026, in Düsseldorf, Germany.

The EGM includes a vote on the implementation of a domination and profit and loss transfer agreement (DPLTA), which Worthington Steel and Klöckner & Co entered into on Sept. 8, 2026. The agreement requires approval by Klöckner shareholders and registration with the competent commercial register before taking effect.

Worthington Steel stated that if the DPLTA vote fails to reach the required 75% majority of capital represented, the company will not pursue another vote on the DPLTA implementation for at least one year from the date of the EGM.

Until the DPLTA becomes effective, Klöckner & Co continues to operate independently.