5th Oct 2006 12:47
M&C Saatchi PLC05 October 2006 M&C Saatchi has today been informed that Charles Saatchi, one of its foundingpartners, has sold his 7.0% shareholding in the business. Charles Saatchi had not had an active involvement in the company, other than inhis capacity as a director, for several years prior to his resignation in July2004. He has not been involved since resignation. The existing executive teamremains unchanged - Chairman Jeremy Sinclair, Chief Executive David Kershaw,Finance Director Jerry Wales, and Directors Lord (Maurice) Saatchi and BillMuirhead. The company has taken the opportunity to buy back 700,000 ordinary shares at£1.12 per share. David Kershaw commented: "Charles has had no direct involvement in the Agency for several years now, andthe sale of his share of the business reflects that". This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
M&C Saatchi