Two proxy advisers split on Zee promoter warrant issue ahead of EGM
Mumbai: Two proxy advisory firms have issued contrasting recommendations to shareholders of Zee Entertainment Enterprises Ltd (ZEEL) ahead of the company’s extraordinary general meeting (EGM) on July 31, with InGovern urging investors to reject the proposed Rs 3,143.5-crore preferential issue of warrants to a promoter group entity, while Stakeholders Empowerment Services (SES) has recommended voting in favour of all three resolutions.
The company is seeking shareholder approval to issue up to 24.95 crore fully convertible warrants to promoter group entity Sunbright Mauritius Investments Ltd at Rs 126 per warrant.
