Zee's board of directors is considering providing equity-linked instruments to its promoters in response to a proposal from a promoter group firm to invest more in the company.
10 November, 2021
According to reports, Zee Media Corporation Limited's board of directors is considering providing equity-linked instruments to its promoters in response to a proposal from a promoter group firm to invest more in the company.
According to media sources, Zee Media's board meeting on November 12 "would also be discussing the proposal to issue equity shares or equity-linked instruments warrants convertible into equity shares of the firm," according to a regulatory filing.
This would be paid out in one or more tranches to a Promoter Group firm on a preferential basis, as the Board sees fit, according to reports.
The change will need to be approved.
Your e-mail information will not be shared with anyone else. And it will be used only to send out our latest news.
BW Communities is an array of business news websites targeted towards niche communities and readers across various industries