zeel Alicia Yi: ZEE shareholders reject reappointment of Alicia Yi as independent director

Shareholders of Zee Leisure Enterprises Ltd (ZEEL) have rejected a proposal for reappointment of Alicia Yi as an impartial director on the corporate board. The particular decision for reappointment of Alicia Yi obtained solely 42 per cent votes in favour as in comparison with 57.97 per cent in opposition to it.

“Primarily based on the votes forged by the members, the particular decision pertaining to reappointment of Alicia Yi as an impartial director of the corporate for a second time period of three years has didn’t obtain a requisite variety of votes in favour,” ZEEL mentioned in a late-night regulatory submitting on Thursday.

Therefore, she vacates the workplace of impartial director with impact from July 13, 2023, it added.

“The board shall take needed steps for complying with the requirement of the Firms Act, 2013 and Securities and Trade Board of India (Itemizing Obligations and Disclosure Necessities) Rules, 2015 for the aim of getting the optimum composition of Board of Administrators of the corporate,” it mentioned additional.

Alicia Yi is Vice Chairman, Shopper Marketplace for Korn Ferry, based mostly in Singapore.

In 2021, ZEEL introduced that it’ll merge with Culver Max Leisure (earlier often called Sony Photos Networks India). It has acquired approval from stakeholders and collectors and truthful commerce regulator CCI.

Nonetheless, it’s but to obtain the ultimate go-ahead from the Nationwide Firm Regulation Tribunal (NCLT), which earlier this week reserved its order on the problem.