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ZEE Entertainment Shares Rebound After Initial Plunge on Director’s Exit Ahead of AGM

Leave a Comment / By / Media Entertainment & Art Community

ZEE Entertainment Enterprises Ltd (ZEE) witnessed a brief setback as its shares tumbled by 9% during Thursday’s trading session following the unexpected exit of non-executive non-independent director Adesh Kumar Gupta from the board. However, the stock demonstrated resilience, recovering most of its losses as the session progressed. Gupta, who served as a crucial member of the audit committee and chairman of the risk management and stakeholders relationship committees, cited personal reasons and commitments for his departure ahead of the upcoming annual general meeting (AGM). The initial market reaction led to a decline of 8.79%, with the stock hitting a low of Rs 284.10 on the BSE. In his resignation letter, Gupta expressed regret for being unable to continue as a director due to personal reasons and commitments. He withdrew his re-appointment at the AGM but extended his best wishes for the company’s success, particularly emphasizing the completion of the pending merger with Sony. ZEE Entertainment responded by confirming Gupta’s exit from key committees after the AGM. The company’s 41st AGM is scheduled for Saturday, December 16, at 4:00 pm (IST). ZEE has announced that the AGM will be conducted through video conferencing and other audio-visual means, adhering to circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. Investors, initially concerned about the sudden exit, regained confidence as the trading session progressed, reflecting the market’s anticipation of a smooth AGM and positive outcomes for the pending merger with Sony.

Capgemini Unveils its Tenth Employee Share Ownership Program

Leave a Comment / By / Human Resource Community

Capgemini is taking significant steps to enhance employee development and performance by introducing a fresh Employee Share Ownership Plan (ESOP). This initiative is open to nearly 97% of the company’s workforce and will be implemented through a capital increase reserved exclusively for Capgemini employees, with a maximum allocation of 3,200,000 shares. Employees will have the opportunity to acquire Capgemini shares through subscription plans, including leveraged and guaranteed options. These plans will not only allow them to safeguard their invested amount until the shares become accessible but also ensure a certain level of protection. Furthermore, individuals holding these shares will have voting rights, which may vary depending on the specific plan and circumstances. These shareholders may include participants in the Fonds Commun de Placement d’Entreprise (FCPE), employees with direct share ownership, and/or the financial institution overseeing the offer or its affiliated parties. This marks the tenth installment in Capgemini’s ESOP offerings, aimed at maintaining employee shareholding at approximately 8% of Capgemini SE’s share capital. The timeline for this program is as follows: it will be open for participation from September 15 to October 4, 2023 (inclusive), followed by a subscription/revocation period from November 13 to November 15, 2023 (inclusive). The pricing for the new shares will be determined on November 10, 2023, and the increase in share capital will be completed on December 19, 2023. The implementation of the leveraged guaranteed offering will involve hedging transactions conducted by the financial institution responsible for organizing the offer. For this tenth program, Crédit Agricole Corporate and Investment Bank will be handling these transactions, which may take place in the market or off-market and may include actions such as buying and/or selling shares, acquiring call options, or any other relevant transactions.