Group Press Releases
Posting of 2007 Annual Report and Accounts and 2008 AGM Notice
23 April 2008
Aegis Board recommends shareholders
oppose
Groupe Bolloré resolutions in fifth vote
Aegis Group plc (“Aegis”), the marketing communications group, announces that it has posted its 2007 Annual Report and Notice of Annual General Meeting (“Notice”) to shareholders. The AGM will be held on 23 May 2008.
The Notice includes two resolutions requisitioned on behalf of Groupe Bolloré: the proposed election of Philippe Germond and Roger Hatchuel as directors of Aegis. By law it is required that these resolutions be put to a vote of Aegis shareholders, in spite of their having been defeated four times previously in under two years by over 90% of non-Groupe Bolloré shareholders voting.
The Board of Aegis strongly recommends that shareholders vote against the Groupe Bolloré resolutions for a fifth time. It notes once again that the appointment of representatives to the Aegis Board by a competitor’s largest shareholder (also its chairman) would be a clear-cut conflict of interest, constituting a major breach of good corporate governance principles. The Board is strongly opposed to adding directors who may favour one particular shareholder over the interests of shareholders as a whole.
Lord Sharman, chairman of Aegis, said:
“As we approach a fifth vote on exactly the same two resolutions, Groupe Bolloré remains a shareholder in Havas. And Havas remains a competitor to Aegis. Shareholders have shown four times now that they want to keep the Aegis Board free of a competitor’s nominees.
“Our primary concern now is that a sizeable majority of Aegis shareholders should make their views plain once again, and protect their investment in Aegis. Every single vote remains as important now as on previous occasions.”
Enquiries
Charlotte Elston / Hannah Bailey
Aegis Group plc
+44 (0) 7730 546 821 / (0) 20 7070 7725
Charles Palmer / Tim Spratt
Financial Dynamics
+44 (0) 20 7831 3113
Matthias Leridon / Lawrence Knights
Tilder
+33 (0)1 44 14 99 99
Notes to editors
1. Groupe Bolloré is a major shareholder in Aegis, with 29.9%. It is also a major shareholder in Aegis’s competitor Havas, owning 32.9%. In addition, Vincent Bolloré, the chairman and controlling shareholder of Groupe Bolloré, is chairman of Havas.
2. Copies of Aegis' 2007 Annual Report and Accounts and 2008 Notice of Annual General Meeting have been submitted to the UK Listing Authority and are available for inspection at the UK Listing Authority's Document Viewing Facility at The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.
