Please find the enclosed outcome of Extra Ordinary General Meeting held on 28th May 2025
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Zinema Media & Entertainment held an EGM on May 28, 2025 via video conferencing where all 9 resolutions were passed by members with the required majority. Key approvals included an increase in authorised share capital with a corresponding amendment to the Memorandum of Association, and expansion of the company's objects clause to include sports-related activities. Two new independent directors — Shivani Marda and Uma Maheswari — were appointed for a five-year term, and Mr. Dinesh Raj's designation was changed from Director to Joint Managing Director. As special business, shareholders approved the issuance of equity shares on a preferential basis, allotment of sweat equity shares to Managing Directors B. Sathya Prakash and Dinesh Raj along with their remuneration, and the acquisition of Premier Futsal Management Pvt Ltd and up to 60% equity in Bontyme Technologies Pvt Ltd. Additionally, 1,00,000 equity shares were approved for allotment to Tulsea Media Pvt Ltd as consideration for consulting services.
The EGM clears several dilution events (preferential issue, sweat equity, and shares-for-services allotment) that will increase the share count, alongside acquisitions signalling entry into sports and technology businesses. Shareholders should expect material changes to the capital structure and track forthcoming disclosures on allotment pricing and acquisition completion, both of which can affect the stock price.