Network18 Media & Investments Limited — Important, 20-12-2024: Updates

Network18 Media & Investments Limited disclosed the voting results from its 29th Annual General Meeting held via video conferencing. A total of 154,20,00,018 shares were eligible for voting, with a turnout of 106,24,99,005 shares, which is 68.90% of outstanding shares.

All resolutions were passed with a requisite majority. Notably, the adoption of both the audited financial statements and the consolidated financial statements for the year ending March 31, 2024 received over 99.99% support. Other resolutions, including the appointment of director Mr. Rahul Joshi and the ratification of the cost auditor’s remuneration, also achieved similar approval rates. Additionally, shareholders sanctioned the transition of Viacom18 to no longer be a subsidiary following a conversion of shares by Reliance Industries, with 99.93% backing.

This broad support at the AGM indicates solid shareholder confidence in the company's strategic direction. Investors should maintain a positive outlook, considering the overall approval of key business decisions.