Zee Ent shareholders reject proposal for reappointment of Alicia Yi as independent director

14 Jul 2023 , 01:54 PM

Zee Entertainment Enterprises Ltd (ZEEL) informed the bourses that its shareholders rejected a proposal to reappoint Alicia Yi as an independent director on the company’s board.

The special resolution affecting the reappointment of Alicia Yi as an independent director received only 42% votes in favour as against 57.97% votes against it.

Following this development, Zee Entertainment’s counter was trading 3.82% higher at Rs 206.50, against the previous close of Rs 198.90 on NSE. The counter touched an intraday high of Rs 207.95.

‘According to the votes cast by the members, the special resolution outlining the reappointment of Alicia Yi as an independent director of the company for a second term of three years has not received the required number of votes in favour,’ stated the company in its filing with the bourses.

Consequently, Alicia vacated the office of independent director with effect from July 13, 2023.

Alicia Yi is currently the Vice Chairman of the Consumer Market for Singapore-based Korn Ferry.

ZEEL announced a merger with Culver Max Entertainment (previously known as Sony Pictures Networks India) in 2021, which has received the stakeholders’, CCI, and creditors’ approval.

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