Sharewatch: Aegis Dips Following Shareholder Revolt

Global advertising network Aegis dipped 0.28% to 87ž yesterday following a rejection of proposed remuneration packages by the company’s shareholders. The proposed deal would have seen Aegis chief executive Doug Flynn receive a £2.35 million pay-off but was halted by investors at the company’s AGM on Wednesday (see Aegis Boss Has Pay-Off Turned Down By Shareholders).

Elsewhere Highbury House Communications continued to see shareprice rise, climbing by 2.56% to 20p following increased profit announced by the group earlier in the week (see Highbury House Reaps Benefits of 2003 Acquisitions).

Rival publisher Emap also scored an increase, pushing up 0.06% as the company unveiled a six-figure sponsorship deal between beer brand Beck’s and Arena magazine to create the Beck’s Agenda entertainment guide (see Emap Signs Becks For Year Long Arena Promotion).

Excitement in the city over speculation that high street stalwart Marks and Spencer could be sold to retail heavyweight Philip Green fuelled a rise for the FTSE 100, closing up 0.3% at 4,453.6 while the FTSE 250 dipped marginally, sliding less than 1% to 6,031.9.

The closing prices of media company shares on Thursday were:

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