Mumbai: Zee Entertainment Enterprises Ltd (‘Z’) – the country’s leading content and technology powerhouse – on Friday secured the requisite support of its shareholders for the resolution to issue fully convertible warrants to a promoter group entity on a preferential basis.Shareholders present at the media giant’s extraordinary general meeting (EGM) also approved the resolutions to implement the ‘Truly Yours’ Employee Stock Option Plan (ESOP) for the Human Capital of ‘Z’ and its subsidiary companies.&nbsp;In a regulatory filing, ‘Z’ said the approvals for all the resolutions mark a firm step forward for the company in strengthening its financial foundation to pursue value-accretive opportunities and build a robust trajectory for the future.&nbsp;'Z' said it garnered unequivocal support from its shareholders, reinforcing their confidence in the company’s strategic growth aspirations and its ability to generate higher value going forward.&nbsp;&nbsp;It further said in the filing that the trust reposed by the shareholders serves as a firm testament to the Board and management team’s ability to ensure higher value generation in the future.&nbsp;As a result, the company will have access to higher growth capital, which it will invest in amplifying its new strategic growth avenues and enhancing the capabilities within its existing business segments.&nbsp;The approval will further enable ‘Z’ to accelerate its growth plans and enhance long-term value creation, in an increasingly competitive and evolving entertainment landscape.&nbsp;&nbsp;<h2>Promoter warrants</h2>&nbsp;Following the approval, ‘Z’ will issue 24,94,85,563 warrants to promoter group entity on a preferential basis, at Rs. 126 per warrant.The promoters will invest Rs. 3143.5 crores in the company, eventually increasing total promoter shareholding to 23.79%.&nbsp;<h2>‘Truly Yours’ Employee Stock Option Plan</h2>&nbsp;‘Z’ will also implement the ‘Truly Yours’ Employee Stock Option Plan (ESOP) by granting 3,74,22,835 stock options to eligible employees of ‘Z’ and its subsidiary companies, having face value of Re. 1/- each, in one or more tranches.&nbsp;The approval of both key resolutions reinforces the shareholders’ confidence in the company’s long-term potential and ensures leadership continuity with enhanced promoter skin in the game.&nbsp;&nbsp;The trust reposed by the shareholders serves as a firm testament to the Board and management team’s ability to ensure higher value-generation in future and enables the human capital to participate meaningfully in the company’s growth journey, as true co-owners.The ESOP framework aligns the growth ambitions of the company’s talent with the long-term shareholder aspirations to ensure sustained value-creation for all stakeholders.&nbsp;<h2>Management speak</h2>&nbsp;R. Gopalan, Chairman, Zee Entertainment Enterprises Ltd. expressed his gratitude towards the shareholders and said, “This approval is a clear reflection of the shareholders’ belief in the company and its management. The Board’s decision and the subsequent shareholder approval, to enhance the foundation and resilience of the company through promoter fund infusion, will further enable ‘Z’ to stay ahead of competition and generate higher value for all its stakeholders.”&nbsp;“I would also like to thank the shareholders for recognizing the immense contributions of ‘Z’s Human Capital and approving the Employee Stock Option Plan, that will only spur higher innovation and accountability to drive the Company forward. The Board firmly believes that robust growth capital coupled with enhanced promoter alignment, will serve as key enablers in ensuring long-term profitability in a dynamic business environment,” he added.&nbsp;“With the approval of the key resolutions, the Company is on a furthermore solid footing to execute its future growth plans effectively,” Gopalan said further.&nbsp;The company said that the whole-hearted support of the shareholders on the board decisions enables it to take the necessary steps forward to achieve its strategic growth ambitions.&nbsp;In its previous meetings, the Board of Directors had reviewed the Company’s growth plans for the future.&nbsp;&nbsp;‘Z’ has presence in more than 190 countries and a reach of over 1.4 billion people across the globe. It brings diverse stories and experiences to life through linear television, digital platforms, movies, music and live entertainment across languages.

After the approval of resolutions by shareholders, ‘Z’ will have access to higher growth capital, which it will invest in amplifying its new strategic growth avenues and enhancing the capabilities within its existing business segments.

Mumbai: Zee Entertainment Enterprises Ltd (‘Z’) – the country’s leading content and technology powerhouse – on Friday secured the requisite support of its shareholders for the resolution to issue fully convertible warrants to a promoter group entity on a preferential basis. Shareholders present at the media giant’s extraordinary general meeting (EGM) also approved the resolutions to implement the ‘Truly Yours’ Employee Stock Option Plan (ESOP) for the Human Capital of ‘Z’ and its subsidiary companies. In a regulatory filing, ‘Z’ said the approvals for all the resolutions mark a firm step forward for the company in strengthening its financial foundation to pursue value-accretive opportunities and build a robust trajectory for the future. 'Z' said it garnered unequivocal support from its shareholders, reinforcing their confidence in the company’s strategic growth aspirations and its ability to generate higher value going forward. It further said in the filing that the trust reposed by the shareholders serves as a firm testament to the Board and management team’s ability to ensure higher value generation in the future. As a result, the company will have access to higher growth capital, which it will invest in amplifying its new strategic growth avenues and enhancing the capabilities within its existing business segments. The approval will further enable ‘Z’ to accelerate its growth plans and enhance long-term value creation, in an increasingly competitive and evolving entertainment landscape. Promoter warrants Following the approval, ‘Z’ will issue 24,94,85,563 warrants to promoter group entity on a preferential basis, at Rs. 126 per warrant. The promoters will invest Rs. 3143.5 crores in the company, eventually increasing total promoter shareholding to 23.79%. ‘Truly Yours’ Employee Stock Option Plan ‘Z’ will also implement the ‘Truly Yours’ Employee Stock Option Plan (ESOP) by granting 3,74,22,835 stock options to eligible employees of ‘Z’ and its subsidiary companies, having face value of Re. 1/- each, in one or more tranches. The approval of both key resolutions reinforces the shareholders’ confidence in the company’s long-term potential and ensures leadership continuity with enhanced promoter skin in the game. The trust reposed by the shareholders serves as a firm testament to the Board and management team’s ability to ensure higher value-generation in future and enables the human capital to participate meaningfully in the company’s growth journey, as true co-owners. The ESOP framework aligns the growth ambitions of the company’s talent with the long-term shareholder aspirations to ensure sustained value-creation for all stakeholders. Management speak R. Gopalan, Chairman, Zee Entertainment Enterprises Ltd. expressed his gratitude towards the shareholders and said, “This approval is a clear reflection of the shareholders’ belief in the company and its management. The Board’s decision and the subsequent shareholder approval, to enhance the foundation and resilience of the company through promoter fund infusion, will further enable ‘Z’ to stay ahead of competition and generate higher value for all its stakeholders.” “I would also like to thank the shareholders for recognizing the immense contributions of ‘Z’s Human Capital and approving the Employee Stock Option Plan, that will only spur higher innovation and accountability to drive the Company forward. The Board firmly believes that robust growth capital coupled with enhanced promoter alignment, will serve as key enablers in ensuring long-term profitability in a dynamic business environment,” he added. “With the approval of the key resolutions, the Company is on a furthermore solid footing to execute its future growth plans effectively,” Gopalan said further. The company said that the whole-hearted support of the shareholders on the board decisions enables it to take the necessary steps forward to achieve its strategic growth ambitions. In its previous meetings, the Board of Directors had reviewed the Company’s growth plans for the future. ‘Z’ has presence in more than 190 countries and a reach of over 1.4 billion people across the globe. It brings diverse stories and experiences to life through linear television, digital platforms, movies, music and live entertainment across languages.

After the approval of resolutions by shareholders, ‘Z’ will have access to higher growth capital, which it will invest in amplifying its new strategic growth avenues and enhancing the capabilities within its existing business segments.

‘Z’ shareholders approve resolutions for promoter warrants, ESOP at EGM

CaratLane employees are expected to&nbsp;receive Rs 340 crore to Rs 380 crore in employee stock ownership plan (ESOP) payouts as Titan is in course of acquiring the remaining stake in the jewellery start up, Moneycontrol reported.

In total, CaratLane has about 1,500 employees, the most of whom work in the manufacturing and retail segments, and do not hold stock in the company. Instead, they receive bonuses and promotions.

About 400 workers make up the startup’s corporate team, where providing ESOPs was a more common practice. 75 of the 400 employees own shares in CaratLane, which are currently valued between Rs 340 and Rs 380 crore, or roughly 1.72 per cent of the company.

Employees at CaratLane will have their shares purchased by Titan, which plans to acquire a 100 per cent stake in the enterprise. It has been raising its investment already. Titan now owns 71.09 per cent of CaratLane and is getting ready to pay Rs 4,621 crore to acquire the remaining 27.18 per cent from the company’s founder and CEO, Mithun Sanchetti and his family. This will bring Titan’s total ownership in the jewellery firm to 98.28 percent. The acquisition is expected to be complete by October 31, 2023, following regulatory approvals.

For Titan to acquire complete ownership of CaratLane, just the ESOP pool will be remaining.

“The ESOP component (of 1.72 percent in the company) will also be bought out at the same time by the end of October. A bunch of it will be done by then and whatever remains, Titan will buy as and when the vesting happens,” Moneycontrol quoted Sanchetti as saying.

The rationale behind the acquisition

The Tata group firm Titan Co Ltd had initially acquired 62 per cent stake in CaratLane for Rs 357.24 crore on July 14, 2023. Titan gave an explanation regarding its decision, saying: “We believe the synergies with the jewellery business of Titan Co is very high.”

It further stated that CaratLane is a well-known brand and company in the online jewelry market that serves a distinct clientele and has strong internal capacities in design, manufacturing, technology, and e-commerce.

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CaratLane employees are expected to receive Rs 340 crore to Rs 380 crore in employee stock ownership plan (ESOP) payouts as Titan is in course of acquiring the remaining stake in the jewellery start up, Moneycontrol reported.

CaratLane employees are expected to receive Rs 340 crore to Rs 380 crore in employee stock ownership plan (ESOP) payouts as Titan is in course of acquiring the remaining stake in the jewellery start up, Moneycontrol reported. In total, CaratLane has about 1,500 employees, the most of whom work in the manufacturing and retail segments, and do not hold stock in the company. Instead, they receive bonuses and promotions. About 400 workers make up the startup’s corporate team, where providing ESOPs was a more common practice. 75 of the 400 employees own shares in CaratLane, which are currently valued between Rs 340 and Rs 380 crore, or roughly 1.72 per cent of the company. Employees at CaratLane will have their shares purchased by Titan, which plans to acquire a 100 per cent stake in the enterprise. It has been raising its investment already. Titan now owns 71.09 per cent of CaratLane and is getting ready to pay Rs 4,621 crore to acquire the remaining 27.18 per cent from the company’s founder and CEO, Mithun Sanchetti and his family. This will bring Titan’s total ownership in the jewellery firm to 98.28 percent. The acquisition is expected to be complete by October 31, 2023, following regulatory approvals. For Titan to acquire complete ownership of CaratLane, just the ESOP pool will be remaining. “The ESOP component (of 1.72 percent in the company) will also be bought out at the same time by the end of October. A bunch of it will be done by then and whatever remains, Titan will buy as and when the vesting happens,” Moneycontrol quoted Sanchetti as saying. The rationale behind the acquisition The Tata group firm Titan Co Ltd had initially acquired 62 per cent stake in CaratLane for Rs 357.24 crore on July 14, 2023. Titan gave an explanation regarding its decision, saying: “We believe the synergies with the jewellery business of Titan Co is very high.” It further stated that CaratLane is a well-known brand and company in the online jewelry market that serves a distinct clientele and has strong internal capacities in design, manufacturing, technology, and e-commerce. WATCH WION LIVE HERE

CaratLane employees to receive Rs 340-380 crore from ESOPs, after sale to Titan

Flipkart will repurchase employee stock&nbsp;options (ESOP) worth US$ 100 million.&nbsp;&nbsp;

Flipkart employees will be allowed to sell a certain percentage of their shares.&nbsp;

The Economic Times reported that the buy-back is one of the largest-such programmes to date in the Indian startup scene.&nbsp;

The Economic Times reported sources familiar with the matter as saying the move would benefit close to 6,000 current and former Flipkart employees, and that some people would walk away with &quot;tens of crores&quot;.&nbsp;&nbsp;

The repurchase programme is expected to close by December 2017.&nbsp;

Giving out employee stock options is a way of retaining high-level employees.

Also read: <a href="http://www.wionews.com/science-tech/flipkart-finalised-a-new-offer-for-snapdeal-18044" target="_blank">Flipkart offers between $900-950 million to buy Snapdeal</a>

Also read:<a href="http://www.wionews.com/science-tech/flipkart-raises-14-billion-from-ebay-microsoft-tencent-acquires-ebay-india-14385" target="_blank"> Flipkart raises $1.4 billion from eBay, Microsoft, Tencent; acquires eBay India</a>

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Employees will be allowed to sell a certain percentage of their shares

Flipkart will repurchase employee stock options (ESOP) worth US$ 100 million. Flipkart employees will be allowed to sell a certain percentage of their shares. The Economic Times reported that the buy-back is one of the largest-such programmes to date in the Indian startup scene. The Economic Times reported sources familiar with the matter as saying the move would benefit close to 6,000 current and former Flipkart employees, and that some people would walk away with "tens of crores". The repurchase programme is expected to close by December 2017. Giving out employee stock options is a way of retaining high-level employees. Also read: Flipkart offers between $900-950 million to buy Snapdeal Also read: Flipkart raises $1.4 billion from eBay, Microsoft, Tencent; acquires eBay India

Flipkart to buy back ESOPs worth $100 million

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