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Crest Comm okays pref issue to promoters, foreign investment cap of 74%
MUMBAI: The board of directors of Crest Communication Ltd has approved the issue of 1.779 million convertible preference shares to the promoters of the company.
A company statement to The National Stock Exchange (NSE) says that the issue of preferential share capital is being made since the promoters’ holding in the company got diluted after the allotment of underlying equity shares towards global depository receipts (GDRs).
In its meeting held on 31 January, the board agreed that the shares would be issued to the promoters in two tranches, the statement says.
The company is also looking to increase the aggregate foreign investment limit to 74 per cent of the equity capital of the company. The Crest Communication board also approved of an amendment in the Articles of Association of the company.
Senior officials of the company were not available for comment.
In an earlier meeting on 28 January, the company’s board had approved an investment of $ 56.37 billion in the rights issue of Crest Communication Holdings Ltd Mauritius, a wholly owned subsidiary of the Company. This investment in 15,714 equity shares of $ 1 each will be made at a premium of $ 357.744 per equity share.
The company has convened an extraordinary general meeting on 5 March 2004 to get its shareholders’ nod for the above matters.
MAM
Omnicom Media appoints Bradley Rogers as CEO of OMD USA
Red Ventures president to lead OMD’s largest market as Chrissie Hanson exits
NEW YORK: Omnicom Media has named Bradley Rogers as chief executive officer of OMD Worldwide’s US business, handing him the reins of one of the world’s largest media agency operations. His appointment takes effect on March 23.
Rogers steps into the role with more than 25 years of experience across media, creative services and digital platforms. Over the years, he has held senior leadership roles at global organisations including McCann Worldgroup, Ogilvy, Mindshare and Red Ventures, working across global, regional and market level operations.
His career has also seen him build long standing partnerships with major brands such as IBM, Mastercard, Microsoft and Nestlé.
Announcing the move, Ralph Pardo, chief executive officer of Omnicom Media North America, said Rogers brings a rare mix of business acumen and cross discipline expertise shaped by leadership roles across media, creative services, commerce and consumer platforms.
Pardo noted that Rogers’ entrepreneurial mindset and ability to connect capabilities, teams and ideas makes him well suited to lead OMD as marketing grows more complex and outcome driven.
Rogers succeeds Chrissie Hanson, who is stepping down after four years as chief executive officer of OMD USA. Pardo credited Hanson with strengthening the agency’s market leadership and deepening the value delivered to clients during her tenure.
Before joining OMD, Rogers served as president at Red Ventures, a digital marketing and large scale customer acquisition company recognised by Inc. Magazine as one of the fastest growing private companies. Prior to that, he was global president and chief operating officer at MRM, part of McCann Worldgroup, where he oversaw global operations across 16 markets and managed relationships with several of the world’s largest brands.
In his new role, Rogers will lead the US arm of OMD, the largest market within the global media agency network.
Commenting on his appointment, Rogers said that as marketing organisations navigate rapid change, agencies must work closely with clients to understand both the pressures they face and the opportunities ahead. He added that his focus will be on delivering measurable outcomes while unlocking Omnicom Media’s strengths in scale, data, identity, commerce and talent to drive growth for the brands it serves.
