Cable TV

Den Networks receives shareholder nod for borrowings and issue of ESOPS

BENGALURU: Scrutinizers NKJ & Associates have informed the Den Networks Limited (Den Networks) board that its shareholders have approved by a very healthy majority the nine special resolutions by it for borrowing against hypothecation of its assets and issuance of employee stock options (ESOP) to the employees of Den Networks and directors of its associates and subsidiary companies

13,22,09310 valid votes were received by ballot paper and through e-voting. In the two resolutions pertaining to Den Networks to borrow against hypothecation of its assets, 13,21,89,110 votes or 99.98 per cent valid votes were received in favour, with only 20,200 or 0.2 per cent of the votes against. 97.54 per cent (12,89,44,699 votes) voted in favour of a resolution for change in Den Networks Memorandum of Articles, with 2.46 per cent (3464611 votes) voting against this resolution.

Over 95 per cent of the votes were in favour of the six resolutions proposed by Den Networks board pertaining to issuance of more than 1 per cent ESOPS to the employees of the multi system operator (MSO) and directors of associate and subsidiary companies through new shares as well as by procurement of shares from the secondary market.

Refer to the attached notice filed by Den Networks on the bourses.

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