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
Hollywood Chamber of Commerce Expands Into Luxury Hospitality20.7.2026 19:30:00 EEST | Press release
The Hollywood Chamber of Commerce, known for the iconic Hollywood Sign® and Hollywood Walk of Fame®, is expanding into luxury hospitality through a strategic partnership with The Scene Hotels & Resorts to launch Hollywood Hotels & Residences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260720026178/en/ The Scene Hotels & Resorts, with 40+ years of combined expertise in hospitality, travel, and brand development, will lead the brand’s development and management. The partnership will bring the Hollywood lifestyle to luxury hotels and branded residences around the world, creating immersive destinations inspired by the world's entertainment capital. "This partnership represents far more than an expansion of the Hollywood brand—it reflects our vision of Hollywood as the world's premier hub for entertainment, creativity, and commerce," said Ron Frierson, President & CEO of the Hollywood Chamber of Commerce. "By deepening our in
Epic Flight Academy Agrees to Purchase up to 50 Pipistrel Voyager Aircraft, Supplementing Its Fleet of Trainers as It Supports Continued Pilot Training20.7.2026 18:38:00 EEST | Press release
Pipistrel, a Textron Inc. (NYSE: TXT) company and an affiliate of Textron Aviation Inc., today announced Epic Flight Academy as the launch customer for the Pipistrel Voyager during Textron Aviation’s press conference at EAA AirVenture 2026. The company has signed a purchase agreement for up to 50 Voyager aircraft, with an order for 10 initial deliveries beginning in 2027, and options for up to 20 additional aircraft in 2028 and 20 in 2029, supporting the continued expansion of its training fleet and growing demand for pilot training. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260720003143/en/ Epic Flight Academy agrees to purchase up to 50 Pipistrel Voyager aircraft, supplementing its fleet of trainers as it supports continued pilot training (Photo Credit: Pipistrel, a Textron Inc. company and an affiliate of Textron Aviation Inc.) Epic Flight Academy is a Florida-based flight training provider offering FAA Part 141 and
New Pipistrel Voyager Brings Next Generation Training Capabilities and Access to Flight Schools20.7.2026 16:00:00 EEST | Press release
Pipistrel, a Textron Inc. (NYSE: TXT) company and an affiliate of Textron Aviation Inc., today introduced the Pipistrel Voyager, a next-generation training aircraft designed to expand capability for flight schools while maintaining the efficiency and simplicity owners and operators expect from Pipistrel. Purpose-built for evolving pilot training requirements, the Voyager is designed to align with anticipated Modernization of Special Airworthiness Certification (MOSAIC) regulations. This positions the aircraft to support broader training missions while improving access to pilot development. The aircraft is expected to enter into service in 2027. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260720673571/en/ New Pipistrel Voyager brings next generation training capabilities and access to flight schools (Photo Credit: Pipistrel, a Textron Inc. company and an affiliate of Textron Aviation Inc.) The Voyager is making its world d
Expensify Launches Corporate Card in Europe20.7.2026 16:00:00 EEST | Press release
Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, corporate cards, and travel, today announced that the Expensify Card is available to businesses of all sizes in the UK and select European markets, including Spain, Ireland, Poland, and the Netherlands. “The Expensify Card works quietly in the background to keep your business spend controlled, compliant, and ready for accounting,” said David Barrett, founder and CEO of Expensify. “It’s a preaccounting assistant that eliminates hours of reconciling transactions, chasing receipts, and reimbursing employees. One of our US customers, Pivot Bio, cut down on their expense report audit times by 90%. We can’t wait to share that same time savings with millions of businesses in the UK and EU.” Key benefits of the Expensify Card include: Real-time spend visibility: Transactions appear instantly in Expensify, so finance teams aren't waiting until month-end to see what was spent. Auto-categorization and receipt matching: Concierge
86% Of Enterprises Have Deployed AI Agents. Just 34% Trust Them, Boomi Study Finds.20.7.2026 16:00:00 EEST | Press release
Boomi, the data activation company for AI, today announced new research conducted by Forrester Consulting on behalf of Boomi showing that despite rapid enterprise adoption of AI agents, trust hasn't kept pace with ambition. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260720652115/en/ Boomi-commissioned independent study finds integration, not smarter models, separates enterprises that trust their AI agents from those stuck in “agentic chaos” The Forrester survey of 409 director-and-above IT and technology decision-makers across North America, Europe, and APAC found that 86% of organizations have moved beyond the AI agent pilot stage, yet just 34% say they trust the actions their AI agents are taking. Among organizations in a state of "agentic chaos" (the bottom quartile for operational readiness across governance, integration, API/MCP management, and other categories), 77% are moving into production anyway, exposing thems
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