Zee Media Corporation Limited has disclosed the resignation of two Senior Management Personnel to the stock exchanges on May 11, 2026, pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosures pertain to the departures of the company's Chief Brand Officer – Campaigns & IPs and Head – Marketing.

Senior Management Departures

The company has notified the exchanges of two separate resignations from its senior leadership. The details of both departures are summarised below:

Details of Individual Resignations

Aditya Tandon – Chief Brand Officer – Campaigns & IPs

Mr. Aditya Tandon submitted his resignation letter dated May 4, 2026, addressed to the Chief Executive Officer of Zee Media Corporation Limited. In his letter, Mr. Tandon stated that his decision was made after careful consideration and was driven solely by his intent to explore new opportunities supporting his professional growth. He confirmed that there are no other reasons, material or otherwise, beyond those stated. His resignation as part of the Senior Management of the company will be effective from the close of business hours on May 31, 2026.

Anindya Khare – Head – Marketing

Mr. Anindya Khare submitted his resignation letter dated May 10, 2026, also addressed to the Chief Executive Officer. Mr. Khare cited personal commitments and evolving career priorities as the reasons for his decision to step down. He confirmed that there are no other reasons, material or otherwise, for his resignation beyond those stated. His departure from the Senior Management of the company will be effective from the close of business hours on June 30, 2026.

Regulatory Disclosure

The disclosures were made by Ranjit Srivastava, Company Secretary & Compliance Officer of Zee Media Corporation Limited, in accordance with the applicable provisions of the SEBI Listing Regulations. Copies of the respective resignation letters have been enclosed as annexures to the regulatory filing. Both individuals were part of the Senior Management Personnel of the company, and the disclosures were made as required under the relevant circulars and the Industry Standard on Regulation 30 of the Listing Regulations issued by SEBI.

Zee Media Corporation Limited has disclosed the formal lapse of 13,33,33,333 fully convertible warrants and the consequent forfeiture of the upfront subscription amount, following the failure of three Foreign Portfolio Investors (FPIs) to remit the balance 75% consideration within the stipulated timeline. The Board of Directors, at its meeting held on May 8, 2026, approved the cancellation of the warrants and the forfeiture of the upfront amount. The disclosure was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Background of the Warrant Issuance

The development follows a series of earlier intimations dated September 27, 2024, September 30, 2024, October 22, 2024, and November 7, 2024, pertaining to the issuance and allotment of fully convertible warrants to three FPIs — UNICO Global Opportunities Fund Limited, Ebisu Global Opportunities Fund Limited, and AL Maha Investment Fund PCC – Onyx Strategy — on a preferential basis under the Non-Promoter / Non-Promoter Group category. The key details of the original warrant issuance are summarised below:

Lapse and Forfeiture of Warrants

As per the terms of issue and in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the warrant holders were required to exercise the option to convert the warrants into equity shares within 18 months from the date of allotment, i.e., on or before May 7, 2026. On May 6, 2026, Zee Media had received communications from all three FPIs expressing their unwillingness to exercise the conversion option. Subsequently, the company did not receive the balance 75% consideration from the warrant holders within the stipulated timeline. Accordingly, the warrants lapsed upon expiry of the exercise period with effect from May 8, 2026, and stand cancelled under applicable provisions.

Consequently, the upfront subscription amount — being 25% of the Warrant Issue Price at Rs. 3.75/- per Warrant — aggregating to Rs. 49,99,99,999/- (Rupees Forty Nine Crores Ninety Nine Lakhs Ninety Nine Thousand Nine Hundred and Ninety Nine Only), received by the company at the time of allotment, stands forfeited. The forfeited amount shall be accounted for in accordance with applicable accounting standards. The following table provides a detailed breakdown of the lapsed warrants by investor:

Key Outcomes and Capital Structure

Following the lapse of the warrants, the warrant holders cease to have any rights or entitlement to equity shares of Zee Media Corporation insofar as these warrants are concerned. Importantly, there is no change in the paid-up share capital of the company as a result of this development. The Board meeting at which these resolutions were approved commenced at 1700 Hrs and concluded at 1800 Hrs on May 8, 2026.

Regulatory Disclosure

The disclosure was made by Ranjit Srivastava, Company Secretary and Compliance Officer of Zee Media Corporation Limited, in accordance with the applicable provisions of the Listing Regulations. The filing was addressed to both the National Stock Exchange of India Limited and BSE Limited, fulfilling the company's obligations under the regulatory framework governing listed entities in India.