Zee Entertainment Enterprise announces incorporation of Zee UK Max

Zee Entertainment Enterprise (ZEEL) has incorporated a wholly-owned step-down subsidiary company, Zee UK Max (ZUML).

In a company filing, ZEEL said that it incorporated ZUML UK Max on September 28, 2023, with an initial share capital of 25,000 pounds divided into 25,000 ordinary shares of one pound each fully paid up.

"ZUML is a wholly owned step-down subsidiary company and therefore it is a related party of the Company. This transaction does not fall within related party transactions. The promoter/promoter group/group companies do not have any interest in this transaction," ZEEL said.

ZUML is yet to commence its business operations. However, this entity is incorporated with the objective of media and entertainment business. ZUML is incorporated with the objective of Media and Entertainment Business to evaluate rationalisation and restructuring, the company said.

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