Bollore vows to continue fight for places on Aegis board |
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Published
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Wed, 04 Apr 2007 13:11
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LONDON (AFX) - Aegis Group PLC's biggest shareholder Vincent Bollore vowed to continue his bid for representation on the board of the UK media buying and market research group despite having two previous attempts rejected by shareholders last year.Addressing Aegis shareholders at an Extraordinary General Meeting called at his request, Bollore -- the chairman of French advertising group Havas who has a 29 pct stake in Aegis -- said he would call three EGMs per year at Aegis until his two nominated directors get a place on the group's board.'We will follow the votes and believe that one day the votes will come to us,' Bollore told journalists after the EGM.'My concern is that Group Bollore has put about 0.5 bln stg (of investment through its stake) into Aegis. We are not seeking to control Aegis. I want to put new blood into the board.'Bollore said in the event of failing to have his board nominations accepted he planned to force EGMs at the end of May and in September.Bollore again rejected the argument from the Aegis board that the nominees from a rival company represented an 'irreconcilable' conflict of interest and would undermine its independence.At EGMs last June and November, 94 pct of of non-Bollore Aegis shareholders investors voted against Bollore's nominations of Philippe Germond, a former executive at telecom giant Alcatel, and Roger Hatchuel, a former chairman of Pearl & Dean, the cinema advertising company.The results of the EGM vote is due later this afternoon.nick.huber@afxnews.comnh/sljCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Bollore to ask Aegis to hold EGM, intends to repeat request for 2 board seats 