Aegis shareholders have rebuffed the group’s largest shareholder, Vincent Bollor», a fourth consecutive time over his request for board representation. At the media company’s annual general meeting (AGM) today, 95% of non-Groupe Bollor» shareholders opposed its proposals for two representatives to the Aegis board.
Chairman Colin Sharman has urged Groupe Bollor» to listen to its fellow shareholders and drop its request. He says: “The outcome of today’s AGM is not a surprise. Shareholders have seen no change in circumstances to alter their opposition to board representation for Groupe Bollor» – reflecting the importance they attach to keeping the Aegis Board completely independent of a competitor.”
Bollor» is chairman and chief shareholder of rival marketing services group Havas but holds a 29% stake in Aegis.
Prior to the AGM Aegis announced it was on track for a further year of “outperforming” the industry and said that it “continues to see a healthy outlook” for the advertising and market research markets.
Organic revenue growth at Aegis Media, the group’s media planning and buying arm, was at 8.4% for the first quarter of the year, on the back of a strong performance in Asia-Pacific and Europe, Middle East and Africa, Aegis says. Synovate, the group’s market research division, recorded organic revenue growth of 8.7%.