• search

Zee Telefilms okays share swap for demerger of ZNL at 137:100 ratio

Written by: Staff

Mumbai, Mar 30 (UNI) The Board of Directors of Zee Telefilms has approved the share swap ratio pertaining to the demerger of its News business Zee News Ltd (ZNL) consequent to its restructuring of the various businesses of the Company.

Accordingly, the Board meet of Zee Telefilms held yesterday cleared the share swap ratio for ZNL which shall allot 137 fully paid up equity shares of Re one each for every 100 equity shares of Re one each held in the Company.

Informing the BSE, the Company said if on the record date, FIIs hold more than 32 per cent shares of the Company, then such class of FIIs, holding more than 0.5 per cent shares of the Company, would be allotted preference shares for such excess holding. The excess holding will be 1,781 fully paid up preference share of Re one each for every 100 equity shares held in the Zee Telefilms.

The Company clarified that if by proportionate allotment of preference shares to FIIs holding more than 0.5 per cent of the equity capital of the Company the FII holding in it exceeds 26 per cent, then the Board of Directors of Zee Telefilms, pursuant to the authority vested under the Scheme of Arrangement, shall decide on such class of FIIs who holds even less than 0.5 per cent in the Company for such proportionate allotment preference shares.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more