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Bollore Nominees Rejected Again
Shareholders of Synovate parent Aegis Group Plc have once again voted down an attempt by Havas Chairman Vincent Bollore to get his nominees appointed to the group's board. Percentages for and against at today's EGM were much the same as at the June AGM.
Frenchman Bollore, who has built up a 29.2% stake in Aegis at a cost of approximately Euros 600m, nominated the same two candidates, Philippe Germond and Roger Hatchuel, as additions to the 12-strong Aegis board.
Aegis Chairman Colin Sharman today reiterated the group's position that representation on the board for a shareholder with close ties to a competitor was 'inappropriate', creating conflicts of interest. Today the percentage of shareholders voting against the nominations was fractionally higher than at the June meeting.
Bollore says his company, Group Bollore, will continue to seek seats on the board, with another meeting possible in 'two or three months', preceded by activity to persuade shareholders that the appointments will add experience and increase the company's value.
Aegis is online at www.aegisplc.com .
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