Invesco Developing Markets Fund Welcomes Bombay High Court’s Ruling
24.3.2022 01:21:00 EET | Business Wire | Press release
Invesco Developing Markets Fund (“Invesco”), Zee Entertainment’s (NSI: ZEEL) (“Zee” or the “Company”) largest shareholder with an ownership interest of nearly 18%, today issued the following statement on the Bombay High Court’s decision recognizing Invesco’s requisition for an extraordinary general meeting (“EGM”) as legally valid and upholding Invesco’s right to requisition an EGM at Zee:
We are pleased with the Bombay High Court’s ruling, which we view as an important reaffirmation of shareholder rights in India and the mechanisms under Indian law to hold Boards accountable to their shareholders. The ruling is a boon for corporate governance in India and a win for shareholder democracy.
Since we announced our intention to requisition an EGM and add six independent directors to Zee’s Board of Directors, Zee has entered into a merger agreement with Sony. We continue to believe this deal in its current form has great potential for Zee shareholders. We also recognize that, following the merger’s consummation, the board of the newly combined company will be substantially reconstituted, which will achieve our objective of strengthening board oversight of the company. Given these developments, and our desire to facilitate the transaction, we have decided not to pursue the EGM as per our requisition dated 11 September 2021.
Invesco will continue to monitor the proposed merger’s progress. If the merger is not completed as currently proposed, Invesco retains the right to requisition a fresh EGM.
About Invesco Ltd.
Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed $1.6 trillion in assets on behalf of clients worldwide as of December 31, 2021. For more information, visit www.invesco.com.
About Invesco Developing Markets Fund and Our Commitment to India
Invesco Developing Markets Fund is a US registered investment company which as of December 31, 2021, has approximately US 45.2 billion assets under management. Invesco Advisers, Inc. serves as the Fund’s investment adviser. Invesco Advisers, Inc. is an indirect wholly owned subsidiary of Invesco Ltd.
As of December 31, 2021, the Invesco Developing Markets strategy held investments totaling USD 7.9 billion (INR 59,000 crores approximately) in India – representing about 17.3% of our total assets under management worldwide. This exposure represents a significant over-weight in favor of India within our global allocation and signifies our continued conviction in the strength and vitality of India’s economic future. Further, these investments, including Zee, are almost all long dated and reflect our 15+ year history of investing in India.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220323005992/en/
Contact information
Jeaneen Terrio, jeaneen.terrio@invesco.com, 212-278-9205 and
Sid Panicker, Siddharth.panicker@edelman.com, +91 9820857522
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
LTM Launches BlueVerse™ Studio as a Hub for Enterprise Agentic AI Adoption28.4.2026 08:00:00 EEST | Press release
LTM, the Business Creativity partner to the world’s largest enterprises, today announced the launch of its BlueVerse Studio in Bengaluru, a hub designed to accelerate Enterprise Agentic AI adoption for clients and deliver measurable business outcomes. LTM continues to launch more studios globally to drive AI innovation and also has studios in London and Mumbai. As part of the company’s ongoing investment in bringing innovation closer to clients, the BlueVerse Studio was created to help clients scale AI solutions from experiments to practical applications while ensuring trust and control. It unites LTM’s strongest AI capabilities, including BlueVerse CraftStudio, physical AI showcases, and industry-centric AI offerings, within one ecosystem along with: Multiple BlueVerse-certified consulting and delivery professionals currently support enterprise-grade AI solutions. These certifications provide expertise in developing intelligent agents and managing unified AI platforms, ensuring secure
Microsoft and Postel: An Innovative New Data and AI-Driven Solution to Optimize Italian SMEs' Relationships with Their Customers28.4.2026 08:00:00 EEST | Press release
Microsoft and Postel, a Poste Italiane Group company, announce an evolution of their collaboration and of the agreements they have signed for the digitalization of Italian businesses, welcoming Audiencerate as technology partner in the Data and Direct & Digital Marketing space. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260427013396/en/ The Marketing Data Platform combines AI-powered market intelligence, first-party data and omnichannel activation to help SMEs analyze market trends and historical campaign performance, turning insights into audiences and increasingly targeted future actions. The agreement provides for the distribution of an integrated platform that combines Postel's omnichannel physical-and-digital communication capabilities with Audiencerate'sdata intelligence functionalities and Microsoft's AI and Cloud solutions. The solution enables SMEs to leverage and activate their own data across the entire custom
Helical Fusion Launches Helix Program “Official Partners” to Build Japan’s Industrial Coalition for Commercial Fusion Energy28.4.2026 06:00:00 EEST | Press release
Helical Fusion Co., Ltd., a fusion energy company developing a Helical stellarator power plant, today announced the launch of Helix Program Official Partners, a new strategic partnership framework designed to bring together long-term industrial collaborators committed to advancing fusion from laboratory progress to real-world fusion power deployment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260427596284/en/ Helical Fusion’s Integrated Demonstration Device, “Helix HARUKA,” currently under construction (photographed at the company’s dedicated workspace within the National Institute for Fusion Science in Gifu, Japan) The Helix Program is Helical Fusion’s core initiative to realize commercially viable fusion energy in the 2030s. Rather than starting from a reactor concept alone, the program works backward from the three essential requirements for commercial fusion power: net electricity, continuous operation, and high main
Investor Supporting Japan’s Entertainment Industry, Yoshihiro Shimamura, to Visit France Workshop to be Held During the Cannes Film Festival28.4.2026 05:00:00 EEST | Press release
Shimamura Yoshihiro Film Planning Inc. (Head Office: Osaka, Japan; CEO: Yoshihiro Shimamura), a company engaged in film production and investment, will host a workshop in France during this year’s Cannes Film Festival, as part of its commitment to further advancing the entertainment industry. The company invests in leading entertainment-related businesses in Japan and places strong emphasis on long-term value creation. It identifies the cultural and entertainment sectors as high-growth areas and is actively involved in international co-productions as a core part of its film production activities. As a recent investment, the company acquired 2,000,000 shares of Hankyu Hanshin Holdings, Inc.—a major Japanese entertainment conglomerate known for producing content enjoyed across generations—and became a major shareholder (as of March 25, 2026). Through such investments, the company aims to support the global expansion of Japanese entertainment while exploring synergies with its own interna
Alsym Energy Announces Na-Series Battery Success Developed With Physics-Informed AI Platform27.4.2026 22:25:00 EEST | Press release
Alsym Energy, a pioneer in non-flammable, high-performance sodium-ion batteries, today announced details of the proprietary physics-informed AI platform used to develop the company’s recently launched Na-Series sodium-ion batteries. By integrating fundamental physics models with AI, autonomous testing and proprietary molecular diagnostics in a closed-loop system, Alsym is accelerating the design of safer, inexpensive, commercialized batteries through all phases of the development cycle. As global demand for electricity surges, the limitations of lithium-ion batteries have become increasingly apparent, particularly around safety and supply chain constraints. Lithium-ion chemistry presents inherent challenges, including flammability and reliance on constrained global supply chains—issues that become more acute in large-scale energy storage, where higher energy densities considerably increase fire risks, and growing demand across sectors further strains the supply chain and imperils energ
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom