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
Haleon Strengthens Commitment to China as Consumers Focus on Better Everyday Health11.3.2026 11:00:00 EET | Press release
Haleon, a consumer company that is solely focused on better everyday health, is investing £65 million in a new state-of-the-art oral health manufacturing site in Shanghai. The facility will support the expansion of its oral care portfolio – which includes the global brands Sensodyne and parodontax – into China’s fast-growing tier 2 and tier 3 cities, where rising incomes, growing awareness of everyday health and a shift towards trusted, branded products are reshaping consumer behaviour. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260311389622/en/ parodontax, Haleon's clinically proven gum health brand, is expanding across China As part of this shift, more consumers are embedding preventative oral care into their daily self-care routines, and demand for premium, science-backed solutions is accelerating at a rapid pace. This investment strengthens Haleon’s local manufacturing footprint and positions the business to capture
Eurofins Biomnis Launches New Clinical LC‑MS/MS Method for the Detection of Cereulide Toxin in Stool Samples11.3.2026 10:00:00 EET | Press release
Eurofins Biomnis, a leading European provider of specialised clinical diagnostics services, and part of the global network of Eurofins laboratories, announces the successful development and validation of a new liquid chromatography tandem mass spectrometry (LC‑MS/MS) method for the detection and quantification of cereulide toxin in human stool samples. This innovation underlines Eurofins Biomnis’ diagnostic innovation, and its commitment to contributing its expertise to reducing diagnostic uncertainty with solutions that support clinicians and laboratories nationwide and internationally. Eurofins Biomnis has fully validated the method for human stool samples, taking into account matrix effects and meeting the requirements of ISO 15189 (with the exception of inter‑method comparison on pathological clinical samples). Cereulide, a toxin produced by specific strains of Bacillus cereus, has recently raised significant public attention following contamination events involving infant formula
1NCE and Netmore Combine Cellular and LoRaWAN Access to Deliver Global IoT Coverage11.3.2026 09:40:00 EET | Press release
1NCE, a company offering a plug-and-play platform for creating and managing the world’s best IoT products, today opened access for its customers to the LoRaWAN® services of Netmore, the world’s leading low power wide area network operator for massive IoT. With growing demand for low power long range connectivity, the Netmore LoRaWAN Network Server (LNS) Plugin provides 1NCE customers access to cellular and LoRaWAN IoT coverage options through one platform. The launch of the Netmore Plugin marks the beginning of strategic collaboration to expand the combined offering of the two biggest massive IoT network specialists — 1NCE, the biggest private IoT network in the cloud and Netmore, the largest LoRaWAN network and platform provider in the world. 1NCE’s software and connectivity platform has become a new industry standard. Working together to support their respective customer bases with both cellular and LoRaWAN technology delivers a powerful layer of redundancy to cover the hardest to re
1NCE and Netmore Combine Cellular and LoRaWAN Access to Deliver Global IoT Coverage11.3.2026 09:40:00 EET | Press release
1NCE, a company offering a plug-and-play platform for creating and managing the world’s best IoT products, today opened access for its customers to the LoRaWAN® services of Netmore, the world’s leading low power wide area network operator for massive IoT. With growing demand for low power long range connectivity, the Netmore LoRaWAN Network Server (LNS) Plugin provides 1NCE customers access to cellular and LoRaWAN IoT coverage options through one platform. The launch of the Netmore Plugin marks the beginning of strategic collaboration to expand the combined offering of the two biggest massive IoT network specialists — 1NCE, the biggest private IoT network in the cloud and Netmore, the largest LoRaWAN network and platform provider in the world. 1NCE’s software and connectivity platform has become a new industry standard. Working together to support their respective customer bases with both cellular and LoRaWAN technology delivers a powerful layer of redundancy to cover the hardest to re
Codethink Opens Early Access to IEC 61508 Mapping for the Eclipse Trustable Software Framework11.3.2026 09:07:00 EET | Press release
EMBEDDED WORLD--Codethink today opened early access to its mapping between the Eclipse Trustable Software Framework (TSF) and IEC 61508, the international standard governing the functional safety of electrical and electronic systems. The mapping establishes a transparent relationship between the engineering principles of the Trustable Software Framework and the objectives defined in IEC 61508. By making this work available as an early preview, Codethink is inviting organisations interested in applying open source approaches to functional safety to review and begin working with the mapping while the work continues to mature. IEC 61508 forms the foundation of many domain-specific safety standards, including ISO 26262 for automotive systems. The early access reflects Codethink’s long-standing commitment to open development of software engineering methods. “This preview release reflects our belief that trust in software must be engineered in the open," said Paul Sherwood, Codethink’s Chair
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