Vincent Bollore has failed in his third attempt to win representation on the Aegis board, with the firm’s shareholders rejecting his proposals at an extraordinary general meeting held today.
In today’s vote, 93% of shares not controlled by Groupe Bollore were voted against the two resolutions.
Bollore currently has a 29.1% share in Aegis. His previous two attempts to have Philippe Germond and Roger Hatchuel placed on the board also ended in defeat (see Bollore Fails Again In Aegis Board Bid).
Prior to this third EGM, the board of Aegis advised shareholders to vote against the proposals, saying that Bollore’s 25% stake in rival company Havas constitutes a conflict of interest (see Aegis Announces EGM Date).
Lord Sharman, chairman of Aegis, said: “Over 90% of independent shareholders have now rejected these proposals three times in ten months. They see Board representation for a direct competitor as an unacceptable conflict of interest. We hope that Groupe Bollore will come to respect this democratically expressed point of view.
“In the meantime, our attention remains on developing our business for the benefit of all shareholders – building on ten years of market out-performance and the fastest growth of any global marketing services group.”
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