ZEE board refuses Invesco’s calls for EGM meeting

The ZEE Entertainment Enterprises Limited board has reported refused to call an extraordinary general meeting from Invesco Developing Markets Funds and OFI Global China Fund, LLC.

In an exchange filing today, ZEE said, “The board deliberated, and unanimously concluded that the requisition notice is not valid, as it suffers from multiple legal infirmities. Accordingly, in the best interests of the company as a whole, including all its shareholders and stakeholders, we express our inability to convene the EGM.”

Invesco is yet to comment on the latest developments.