Please find the enclosed outcome of the board Meeting Held on 25.04.2025
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The board of Zinema Media & Entertainment approved increasing the authorised share capital from ₹8 crore to ₹31 crore and plans to seek shareholder approval via postal ballot (April 30 to May 29, 2025, record date May 6, 2025). It also approved a preferential issue of up to 1.10 crore equity shares at ₹10 each (₹11 crore total) to 16 non-promoter allottees. Additionally, the board approved the acquisition of Premier Futsal Management Pvt Ltd through an NCLT resolution plan, involving the allotment of 24.99 lakh equity shares at ₹10 each to its creditors. The company also plans to acquire up to 60% of Bontyme Technologies Pvt Ltd through a share swap and allot 1 lakh shares to Tulsea Media for consulting services. Sweat equity of 50 lakh shares each (₹5 crore total) was approved for Managing Director B. Sathya Prakash and Joint Managing Director Dinesh Raj as part of their three-year remuneration. Key appointments include a new CFO (Mr. Dinesh A), two independent directors, a new Company Secretary, and a Secretarial Auditor, while Director Kannabiran Navakumar resigned.
The substantial capital raise (₹11 crore preferential issue plus sweat equity) and multiple share allotments will lead to significant dilution of existing shareholders. The acquisitions in sports broadcasting and media technology signal a strategic expansion, but shareholders should closely watch the postal ballot outcome and the impact on earnings per share once new shares are issued.