Mumbai: Jet Airways has amended its shareholders agreement with Etihad, the Abu Dhabi-based carrier, with the aim of assuaging concerns expressed by various authorities such as Sebi and the Foreign Investment Promotion Board. Significant changes in the new agreement include the removal of a clause that stipulated the promoter (Jet Airways) and the investor (Etihad) could vote together as persons acting in concert.
Further, the latest version of the shareholders agreement stipulates that Etihad has to maintain a minimum 15% shareholding at all times. This change is intended to align Etihad's power to appoint three directors with its shareholding. The original agreement contained no stipulation of a minimum shareholding.
20/06/13 Economic Times
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Further, the latest version of the shareholders agreement stipulates that Etihad has to maintain a minimum 15% shareholding at all times. This change is intended to align Etihad's power to appoint three directors with its shareholding. The original agreement contained no stipulation of a minimum shareholding.
20/06/13 Economic Times
