SPE will indirectly hold a majority stake of 50.86 per cent of the combined company.
The regulator has asked Zeel to exercise due diligence in the timeliness of disclosures.
The company posted ad revenue growth of 20.1 per cent and 18.9 per cent on YoY and QoQ basis.
The board will approve the unaudited financial results for Q2’22.
Zeel has also cancelled its board meeting scheduled on 27 October citing a lack of quorum.
