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Zee Ent board meeting to consider Q2 results to be held next week

Zee Entertainment Enterprises Ltd on Wednesday informed that its board meeting, which was cancelled last week due to ‘lack of quorum’, will be held next Thursday on November 11, 2021, to consider the earnings for the quarter ended September 2021. 

“a meeting of the board of directors of the company will be held on Thursday, November 11, 2021, inter alia, to consider and approve the unaudited financial results of the Company both on standalone and consolidated basis for the 2nd quarter and half year ended September 30, 2021,” Zee said in an exchange filing on the BSE.

The media giant had last week said that its board meeting to consider and approve the firm’s financial results for the second quarter has been cancelled due to lack of quorum. The Mumbai-headquartered company’s board meeting was scheduled on Wednesday, October 27.

Shares of Zee Ent were trading 0.7% lower at ₹311 apiece on the BSE in Wednesday’s afternoon deals.

The media company has been embroiled in a legal dispute regarding a board revamp and management changes with two Invesco-controlled funds, which together own nearly 18% of the firm. In September, Sony’s India entertainment unit announced a deal to buy a majority stake in Zee to become the country’s largest broadcaster.

US investment firm Invesco had publicly lashed out at Zee and objected to some terms of its proposed merger with Sony, weeks after the deal announcement.

 

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